CBN denies charges on COVID-19 loan applications
The Central Bank of Nigeria (CBN) has denied reports making rounds that it charges fees on its loan application.
The CBN, in a statement by Isaac Okoroafor, Director of Communications at the apex bank, on Monday, said that its attention has been drawn to false reports in the social media circles that loan seekers and owners of small-scale businesses who apply for loans provided to cushion the effects of COVID-19 are required to pay a certain amount as application processing fee.
“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),” it said.
The CBN, however, urged Nigerians especially households and owners of small-scale businesses, to disregard any message requiring them to pay any amount to process their applications.
In view of this, intending applicants are advised to approach NIRSAL Microfinance Bank or the CBN branch nearest to them for clarification on the procedure for accessing any of the CBN-related loans.
