LINKS conducted a review of the Central Bank of Nigeria (CBN) N50 billion Targeted Credit Facility (TCF) loan being disbursed by the NIRSAL Micro Finance Bank (NMFB) through an online application process. The loan will support households and micro, small and medium enterprises (MSMEs) affected by the COVID-19 pandemic.
The review identified transparency, poor communication, digital application portal challenges, collateral requirements and other barriers that will exclude millions of MSMEs in northern Nigeria from the stimulus package.
LINKS presented the findings and recommendations from the review in a position paper to the Jigawa State Governor who held consultations with NMFB and the Northern Governors’ Forum as part of the advocacy for improving inclusion in NIRSAL TCF.