BREAKING: CBN Denies Charging Small Businesses N10,000 for COVID-19 Loans

The Central Bank of Nigeria (CBN) has denied charging N10,000 to give out COVID-19 Intervention Loans to small businesses.

We can confirm that NIRSAL Microfinance Bank, administrator of the loan for the CBN, is charging N10,000 for what it described as a “business plan link” compulsory for all applicants if they want their entries reviewed.

The CBN’s Director of Corporate Communications, Isaac Okorafor, on Monday said the apex bank would not demand money from anybody and urged customers with complaints to report to its consumer protection department.

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