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| The Minister of Humanitarian Affairs, Disaster Management and Social Development. |
NASIMS has outlined the criteria for accessing the NEXIT AGSMEIS loan that Npower beneficiaries of batches A and B are being trained for.
The criteria are same for anyone seeking loan in a commercial bank should meet before applying for such loans.
Normally, any person who is seeking loan from a commercial bank or any other financial institution ought not to be owing another financial institution.
If you are guilty of the following, kindly withdraw from the programme
1. Those who benefited from COVID-19 LOAN may not be allowed to collect another loan from NIRSAL MFB. This is because NIRSAL Microfinance Bank is the only bank disbursing both the COVID-19 Loan and the AGSMEIS Loan and had revealed earlier that beneficiaries of any of their loans that remained unpaid should not expect another loan from them.
2. Those with blacklisted BVN: Are you wondering how your Bank Verification Number BVN is blacklisted? This is why and how; when you take a loan from any financial institution and had defaulted, for example, if the said loan was taken without security (collateral) the institution can not confiscate your property so they simply submit your bank details to Credit Bureau who will tag it as a chronic defaulter.
For another financial institution to give you another loan they will check your credit history and if your BVN is found to have this tag they may reduce the amount or deny you the loan.
3. Lastly those who refused to take the NEXIT training will by no means get the Loan. This is because, the Central Bank of Nigeria (CBN) had given the conditions for those who should benefit from the AGSMEIS Loan that started in 2017.
As an Npower beneficiary if you are not free from any of the above kindly withdraw from the vain hustle because its of no benefit to you.
