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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OMG!!! BASKETMOUTH GOES MAD DURING A SHOW IN LONDON. PHOTO.

Is hard for me to believe because I love this guy so much and seeing him go mad in a show is the least thing I want to hear. I hear from a private close pal that the Nigerian Born Famous Comedian almost went mad performing in a just concluded Valentine Show in London. 

Abeg na true!

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Lance Gross & Rebecca welcome Baby Girl | PHOTOS!.

After HOTTEST Pregnancy Shoot Ever.

Aww! There’s nothing like two beautiful and multi-talented parents. Actor Lance Gross took these stunning photos of his fiancee (rumoured-to-be wife) Rebecca and shared them on Instagram over the past few weeks.

The parents also shared first photos of their bundle of joy -Berkeley Brynn Gross, born on the 20th of November, this weekend. Aww!

Some photos from the maternity shoot…

First photos of the baby!

Photo Credit: Instagram.com/LanceGross | BecJefferson / Belle Naija...akacoms.com | be informed to perform... 

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