CBN: Covid-19 TCF N50B Loan

It will be recalled that the CBN on March 23, 2020, unveiled guidelines for the implementation of the N50bn Targeted Credit Facility as a stimulus package to support households and micro, small and medium enterprises affected by the COVID-19 pandemic.

A couple of weeks back now, the Central Bank of Nigeria (CBN) assured that all successful applicants under its COVID-19 Targeted Credit Facility (TCF) will have their accounts credited within 48hrs.
If you are part of successful applicants you should have received your loan in your account already.

We’ve heard news of Some people that applied have gotten theirs. If you have got yours too, please help clear the doubts about the program Thomas by sharing your testimony via the comment box below this post.

The CBN advised the successful applicants whose accounts have not been credited, to visit the website of NIRSAL Micro Finance Bank ( and input their account details.

Though as at this post was written, there was difficulty connecting with the home page due to their server but thankfully they launched an App for easy access

The CBN Director, Corporate Communications Department, Isaac Okorafor, who gave the assurances in a statement urged all successful household and SME applicants that have submitted their account details for the facility, but do does not receive a credit alert within 48 hours to call mobile number: 09010026900 for resolution.

If you know that your business was kicked badly by the lockdown or ongoing COVID-19 pandemic, but still pondering on whether to apply or not, we advise you to utilize the opportunity to awake your business before it is too late and do not hesitate to contact me if you need any ideas from me relating to online business.
It is important to take note of the information in the image below.

If you are yet to apply, you can apply here and make sure you complete your applications and submit. See more details about eligibility Here.

You can also download the NIRSAL Android app Here for easy access.

If your application was successful, you’ll get disbursement in the coming weeks. The loan amount would be determined based on the activity, cash flow, and industry size of the beneficiary, subject to a maximum of N25m for SMEs.

Households can access a maximum of N3m while working capital would be a maximum of 25 percent of the average of the previous three years’ annual turnover.

If you applied and the money has been paid to your account, let us know via the comment section.

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