Nexit Scheme: 300k applicants to enjoy CBN loan

As FG set to conduct Nexit training for the exited Npower batches A and B beneficiaries this February, FG has said that 300k Nexit Scheme Applicants To Enjoy CBN Loan. Read details below:

IDOMA VOICE reports that the Ministry of Humanitarian Affairs, Disaster Management and Social Development Minister, Hajiya Sadiya Umar Farouk, stated this on Thursday during the weekly ministerial brie ng organized by the presidential media team that the Federal Government will be providing 300,000 N-Power exited beneficiaries with loan facilities from the Central Bank of Nigeria (CBN) after Nexit vocational training.

She said: “Yes, we have an exit strategy, which we partner with the Central Bank of Nigeria. And out of this 500,000, about 300,000 indicated interest to be put on an exit programme where you can be trained on different skills, skills of their choice and they will be given loans by the Central Bank of Nigeria, for them to start their businesses.

This we have gone far. We are in the process of training those that have indicated interest. And I’m sure before the end of this quarter, these people the end of this quarter, these people will be giving these loans by the CBN.

As a government agency the ministry, we do not give loans. So, we have to partner with those institutions that can do that.

Unfortunately, some of these people were not very wise in their savings but for anybody that’s really serious, most of them have saved.

About 109,000 of the N-Power beneficiaries have become entrepreneurs. They are now employers of Labour and we have evidence of that which can be provided to you.

This is a very laudable programme, and people have bene ted and people are being supported. And we have an exit strategy. And we are on and it’s a continuous process.