The Central Bank of Nigeria (CBN) has refuted claims in the social media circles that loan seekers and owners of small-scale businesses who apply for COVID-19 loans are required to pay a certain amount as application processing fee.
In a statement, its CBN Director, Corporate Communications, Isaac Okorafor, said: “For the avoidance of doubt, there are clearly spelt out procedures for accessing the N50 billion Targeted Credit Facility (TCF) stimulus package to support households and micro, small and medium enterprises (MSMEs) affected by the COVID-19 pandemic, which are disbursed through the NIRSAL Microfinance Bank (NMFB).
