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CBN Denies Charging Fee On COVID-19 Loan Application


The Central Bank of Nigeria has denied reports that it charges a fee on COVID-19 loan applications as claimed in some reports on social media.

Mr Isaac Okorafor, the Director of Corporate Communications Department, CBN in a fresh statement explained the procedures for accessing the N50 billion Targeted Credit Facility stimulus package for households and Micro, Small and Medium Enterprises.

READ ALSO: CBN, Dangote, NNPC, United Nations, Coordinate Multi-Billion Donations To Fight COVID-19 – FG

He urged 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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