CBN’s N220 Billion MSME Development Fund- How to Access it.

Finally, the Central Bank of Nigeria has published the procedure for accessing the fund. Find text below.

1.0 Is your business in any of the following areas?
. Agriculture
. Manufacturing
. Cottage Industries
. Artisanship
. Services
. Trade and general Commerce
. Renewable energy/energy efficient products and technologies
. Other income generating projects as may be prescribed by the CBN

2.0 If “Yes”….
2.1 Prepare your business plan or statement on how much you want for your business
2.2. You can get loan of up to:
(a) N500,000.00 for your micro-business; and
(b). N50 million for Small & Medium Enterprise (SME)

2.3. Go to your bank or any of the following institutions to access the Fund:
. Microfinance Banks
. Commercial Banks
. Cooperatives
. Finance Companies
. NGO-Microfinance Institutions
. Development Finance Institutions, i.e. Bank of Industry and Bank of Agriculture

3.0. Tell your bank how much you need

4.0. Your bank will discuss your request and provide you the money
4.1 The maximum interest rate of 9.0% p.a (charges inclusive) is applicable to all loans

5.0. Period for the repayment of the loan:
a) For micro business, it is a maximum of one year
b). For small and medium enterprises, it is a maximum of three years

NOTE: 60% of the Fund is reserved for enterprises owned by women; 2% for persons living with disability and 10% for start-up businesses.

There have been reports of bank branches claiming ignorance of the fund. In that eventuality or for more information, please send e-mail:
msmedf@cbn.gov.ng

-Source: CENBANK

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Mobile Payment Agent recruitment and training In Nigeria Registration Rivers

Mobile Payment Agent recruitment and training In Nigeria Registration Here Central Bank of Nigeria will be licensing firms in the next few weeks to provide mobile payments in Nigeria for an addressable of 140 million people where only 22 million are banked with more than 70 million mobile subscribers. Mobile payment license will cover mobile Banking, payments, savings, person to person payments, remittances and other mobile related commerce which are currently lacking in the Nigerian economy. Mobile payment agents are the main actors for any successful mobile payment deployment and Nigeria will require minimum of 60,000 agents to cover the 34 states and 744 local governments. VCASH VTN is actively leading the trail in opening up in sector all over Africa by providing media, event, news and education in the emerging sector. The training event will empower potential agents to understand how mobile payment works, their role and benefits as a Business Venture in the emerging industry.This is a certificate training course. Areas of focus: • Understanding mobile payments. • Types of technologies,applications,Handset management. • How it works. • Agent recruitment. • Agent point branding. • Managing Operations at Agent locations – efloat and Till management. • Security and Fraud management. • Operational risk for agents. • Basic Accounting for agents. The training will also showcase technologies and applications from players in the industry in Nigeria and attendees will also get listed in agent database for providers in Nigeria. For whom: Merchants, Store owners, Pharmacy and drug stores, Retired teachers (Rural and Urban areas), entrepreneurs, airtime dealers, Micro finance Banks, Loan and thrift societies, cooperative societies, Transport hub managers, Gas stations owners, Eateries, Hotels, Lottery operators, Retail distributors, retail store owners and others. Mobile Payment Agents Recruitment and Training any where in Nigeria . to register send your Name,city and GSM no

Phone: 07034057634

Skype: benmulele

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