CBN Loan Scheme For Npower Beneficiaries Makes Debut

CBN Loan Scheme For Npower Beneficiaries has made its debut.

Newsonline reports that the Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Farouq, has kicked off the NEXIT/CBN Agri-Business Small and Medium Enterprises Investment scheme for exited N-Power beneficiaries.

Hajia Farouq said of the 467,183 trainees, who indicated an interest in the scheme,  75,600 will participate in the first phase of the orientation, adding that at the end of the five-day training, beneficiaries who qualify would receive loans of up to N3 million from the Central Bank of Nigeria (CBN) with a maximum tenure of seven years.

She said: “I have desired that the exited batches A and B N-Power graduate beneficiaries will not be left unattended to.

“In different channels, I kept on assuring these teaming youths that the ministry has worked very closely with the Central Bank of Nigeria to realize this dream and marks the beginning of the fulfilment of this long awaited training that will enable those beneficiaries that indicated interest to participate in the CBN empowerment programme.

“For ease of coordination, this training programme will be conducted in phases. Let me also inform you that all 36 states and FCT are participating in this long-awaited NEXIT training programme, stating that a total of 75,600 participants are in this first batch of the training. We will continue to train the remaining batches in no distant time.’’

Hajia Farouq said the N-Power programme is key to helping young Nigerians acquire and develop life-long skills that ensure they become solution providers and entrepreneurs in their communities.

The Coordinator, National Social Investment Programmes, Dr Umar Bindir, also advised the beneficiaries to take advantage of the CBN package to be self-reliant.