Targeted Credit Facility for the COVID-19 Pandemic

The Coronavirus pandemic (COVID-19) has caused unprecedented disturbances in global supply chains, a dramatic drop in global crude oil prices, instability in global stock and financial markets, and restrictions on people’s movements in many countries.

As a result of a drop in global demand, decreased consumer trust, and a downturn in productivity, these outcomes have had serious implications for households’ livelihoods and business activities.

In this regard, the Central Bank of Nigeria (CBN) launched the N50 billion Targeted Credit Facility (TCF) as a stimulus package to help households and Micro, Small, and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic.

Who is Eligible

House Hold

Households with verifiable evidence of livelihood adversely impacted by COVID-19.

Microenterprises

Existing enterprises with verifiable evidence of business activities adversely affected as a result of the COVID-19 pandemic.

SMEs

Enterprises with bankable plans to take advantage of opportunities arising from the COVID-19 pandemic

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