According to the Ministry of Humanitarian Affairs, the Nigerian Government has substantially approved a 3 million naira loan strategy for NPower beneficiaries who were eligible to register for the Nexit program at the time of registration.
Meanwhile, the Nexit program will issue a significant number of loans to qualifying applicants from non-receiving Enforced Beneficiaries.
This is according to the current information we obtained
The CBN finance initiative aims to help beneficiaries who have graduated from the Npower program to create their own lucrative businesses. It has been a long dream come true for many of the impacted beneficiaries, with some losing interest and others having their fortunes assured.
According to Npower’s official media page @NpowerLagos, a large sum of money would be given to the beneficiaries who will be leaving soon, with strong plans already in place. Furthermore, Npower Lagos advised outgoing beneficiaries to have patience while waiting for credit approval.
Recall how an NPower manager responded to an inquiry from an exiting beneficiary about Batch A and B beneficiaries being forgotten? They had not gone unnoticed, and they had already begun their preparations. Something is clearly going to happen sooner than expected.
Beneficiaries should also note that one of the prerequisites used to determine if a Nexit applicant is appropriate for a Nexit loan is a well-written business plan.
Because CBN demands a written document that describes the outline of your business or startup, as well as whether you can achieve its goals, a business plan is essential for a CBN Nexit loan. What you aim to accomplish and how you plan to do it.
How do you know if you are qualified for the CBN Nexit loan?
To check if you are qualified for the loan, kindly follow the steps below:
Step 1: Log in to your account using the email address and password you used to register
Step 2: Navigate to your dashboard
Step 3: Tap the menu at the top left corner to expand it
Step 4: Preview your status, if you see all green that means you’re qualified. You’re to wait for further instructions from Nexit.
When will CBN disburse the Nexit loan to qualified applicants?
As we said, the loan has already been approved by the Nigerian government through the Ministry of Humanitarian Affairs, and the loan will be disbursed in batches. So you are advised to check out for the latest information on this website.