2,000 people benefit from CBN COVID-19 loan in South-East, South-South

*Loan has helped SMEs, households to survive harsh impacts of pandemic ─Facilitator

*Beneficiaries in household category each got about N500,000 repayable after three years

Isola Moses | ConsumerConnect

At least 2,000 persons have benefited from the facility of Central Bank of Nigeria (CBN) COVID-19 loan facility in the South-East and South-South regions of the country.

Mr. Isaac Nkole, National Chairman, Isun Multipurpose Cooperative Society, Umuahia, Abia State capital, said this in a statement Tuesday, June 23, according to agency report.

He disclosed that the facility had provided succour to benefiting small and medium enterprises (SMEs) and households in the two zones.

The loan has helped a number of households and SMEs to remain afloat, in spite of the harsh impact of COVID-19 pandemic, said Nkole.

He stated: “This is the first time poor masses in Nigeria are getting interest-free federal loans without stress.

“It is amazing and it has restored the hope of many homes today.

The facilitator of the loan facility in the regions explained that each beneficiary in the household category got about N500,000 repayable after three years.

He advised the beneficiaries to invest the money wisely, in order to grow their businesses and economy, saying that “this is a loan and not grant.”