No fee charged on COVID-19 loan applications -CBN

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The Central Bank of Nigeria says the apex bank does not charge any fee on COVID-19 loan applications as claimed in false reports circulated on social media.
That is according to the Director of Corporate Communications Department of the CBN, Isaac Okorafor, in a fresh statement.
Mr Okorafor explained that procedures for accessing the N50 billion Targeted Credit Facility stimulus package for households and Micro, Small and Medium Enterprises affected by the pandemic were clearly spelt out.
He advised Prospective applicants to approach NIRSAL Micro Finance Bank or the CBN branch nearest to them for clarification on the procedure for accessing any of the bank’s related loans.
It also noted that any observed irregularity should be reported to the Consumer Protection department of the CBN.

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