Covid19: Lost Your Job, No Money at Home or Your Business is Down? Apply for CBN Stimulus Package Here

Many households, families or even businesses most especially startups may have been affected by the COVID-19 Pandemics that forces everyone to be on compulsory lockdown to curb the spread of the virus.

In this light, the Central Bank of Nigeria (CBN) has introduced a stimulus package to support households and Micro, Small and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic.

The Coronavirus Disease (COVID-19) pandemic has led to unprecedented disruptions to global supply chains, sharp drop in global crude oil prices, turmoil in global stock and financial markets, massive cancellation of sporting and entertainment event, the lockdown of large swaths movements of persons in many countries, and intercontinental travel bans/restrictions across critical air routes across the world.

cbn stimulus package

These outcomes have had severe consequences on households’ livelihoods and business activities, resulting from a drop in global demand, declined consumer confidence and slowdown in production.

In this respect, the Central Bank of Nigeria (CBN) introduced the N50 billion Targeted Credit Facility (TCF) as a stimulus package to support households and Micro, Small and Medium Enterprises (MSMEs) affected by the COVID-19 pandemic.

Who is Eligible?

Household: with verifiable evidence of livelihood affected by the coronavirus. (Apply here)

MSMEs: Existing enterprises with verifiable evidence of business activities adversely affected as a result of the COVID-19 pandemic (Apply here)

Corporate Enterprise: Enterprises with bankable plans to take advantage of opportunities arising from the COVID-19 pandemic (Apply here)

Application Guideline

Household – Download guideline here

MSMEs – Download guideline here

Corporate Enterprise – Download guideline here

How Does it Work?

CBN Stimulus package


>>First of all, visit this link here and download the application form that fits into the category you belong

>>Carefully fill and submit your applications to NIRSAL Microfinance Bank (NMFB)

>>Your application will be reviewed, and then forwarded to CBN

>>CBN will review your application and then begin disbursement.

If your household is affected or source of income is affected, kindly visit the link above and apply for the stimulus package from CBN.


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16 thoughts on “Covid19: Lost Your Job, No Money at Home or Your Business is Down? Apply for CBN Stimulus Package Here”

  1. Wow. Thank you so much for this very important information. Prof. Yomi, you’re the best! ♥ 😘

  2. Thank you Mr you for heads up, pls I will like know more is there any terms and conditions attached to it or is a money Free

  3. Loan? With the funds made available to the government for the fight against this pandemic and the ease of our suffering???
    And they say there’ll ever be hope for this joke of a country

  4. We need grant and not loan…..
    Nigeria government is a big time joke…
    So for you to get money in this season of not working you have to apply for q loan.. Then they’ll access it and consider you.. Haaaa this country sha

  5. Everybody wants free money but I seriously believe if you have a business to resuscitate due to the COVID-19 downtime you’d rush to take the loan because it’s the best loan rate you’d ever get in the country. I mean 5% peranum & yet pple still complain the money is not free what else do you want?
    Btw, the money IS NOT the relief contributions funds from philanthropists.
    This is a CBN intervention fund that has been in existence for years now.

  6. This is scam, please dont fill it. I tried filling it and was stock at a point. Today i was called with a number and they told me my BVN trying to get other information cos i was unable to fill that thing to the last bfor i got stocked. When i interrogated the idiot, i dropped the call and never picked my call again. Its a scam.

  7. After filling the form’s, they replied after 2 days demanding automatic processing fee of 5,000 naira without which it can’t be processed. This is crazy. CBN should do something as I called CBN to complain but all the lines are not responding.

  8. This is a pure scam. Organised scam/fraud. I filled the form and was contacted via a mail few hours later. The mail says I need to pay sum of 5k for automated business plan for the credit loan of which I don’t understand it. This is pure outrageous for nirsal microfinance in conjunction with FG wants to charge Nigerians 5000 each before proceessing the loan of which might be declined at some point.
    I had to contact them via Twitter, till now no feedback.
    Imagine 10,000 Nigerians pays this 5k for this shit, that will amount to 50m.
    This is organised scam… Nigeria is a failed state.

  9. Please Yomi you should always check the authenticity of this kind of offers before sharing them, how can you charge a hungry Nigeria 5000 to process a loan?, which govt in the world does that”? I guess this is an organized scam, I don’t believe it from the federal govt…


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