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New NMFB NON-INTEREST AGSMEIS Portal Now Open |Apply Now

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NMFB NON-INTEREST AGSMEIS: The Central Bank of Nigeria is giving collateral-free loans of up to N3,000,000 (Three million Naira) to small businesses in a scheme called; Agric-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS). Apply Here

Introduction

The Scheme supports governments policy measures for the promotion of agricultural businesses, micro, small and medium enterprises (MSMEs) as vehicles for sustainable economic development and employment generation.

Objectives of the Scheme

  • To improve access to affordable and sustainable finance by Agri-businesses, Micro, Small, and Medium Enterprises (MSMEs).
  • Create employment opportunities in Nigeria.
  • Boost the managerial capacity of agri-businesses and MSMEs to grow the enterprises into large corporate organizations in line with the Federal Government’s agenda to develop the real sector and promote inclusive growth.
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Eligible sectors/businesses

  1. Agriculture & Agro-allied Processing
  2. Art & Entertainment
  3. Automobile Services
  4. Fashion and Dressmaking
  5. Catering & Event Management
  6. Courier & Delivery Services
  7. Creative Industry
  8. Apparels and Textiles
  9. I.C.T
  10. Cottage Industry
  11. Media
  12. Publishing
  13. Telecommunications
  14. Hospitality
  15. Health Services
  16. Welding and fabrication
  17. Animal Husbandry
  18. Cosmetics, Beauty, and Makeup Artistry
  19. Electrical and Electronics
  20. POP and Tiling
  21. Carpentry
  22. Masonry
  23. Kerbs and Electric Pole making
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Modalities

  • Financing under the Scheme shall be for start-ups, business expansion, or revival of ailing companies. The terms of the loans shall be as follows:
  • Loan amount: Up to N3,000,000
  • Interest: 5% per annum for regular and 0% for non interest AGSMEIS
  • Tenor: Up to 7 years (depending on nature/gestation period of the project)
  • Moratorium: Maximum of 18 months for principal and 6 months on interest.

To access the AGMEIS loan, there are some conditions that must be met:

  1. Interested Applicants must undergo training by a CBN certified Entrepreneurship Development Institution (EDI)
  2. Interested Applicants will apply for the loan through the CBN accredited EDI
  3. The application will then be sent to CBN through NIRSAL MFB by the EDI, for processing.
  4. Those qualified will be contacted and given the loan.
  5. Fill clearly the form with all the details required, sign, and get them authenticated by the EDI.

Requirements either during the application or before final approval/disbursement

  1. BVN
  2. Certificate issued by a CBN certified EDI
  3. Details of two (2) Guarantors
  4. Valid ID card
  5. A Business Plan provided by the EDI

 

PLEASE NOTE:

  • We do not charge any application, processing, training, interviewing, testing or other fee in connection with the application or recruitment process. Should you receive a solicitation for the payment of a fee, please disregard it. Furthermore, please note that emblems, logos, names and addresses are easily copied and reproduced. Therefore, you are advised to apply particular care when submitting personal information on the web
  •  We are an equal opportunity employer and value diversity inclusion. We do not discriminate on grounds of colour, race, nationality, religion, age, ethnic origin, disability, gender, marital status, or sexual orientation in our employment practices
  •  Our people are all equally gifted in unique ways: we come from diverse traditions, personal experiences and points of view. And we want to include yours, Are you ready to inspire us with your ideas?
  • We encourage all applicants to apply and does not practice any discrimination in any recruitment process.
  • Applications submitted after the deadline will not be considered.
  • Due to the urgency of the position, we have the right to recruit a candidate who matches the required profile before the above deadline
  • Only qualified candidates will be invited for interview
See Also: INEC Online 2022/2023 Recruitment OF AD-HOC Staff | How to Apply

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Important Notice

  • The above statements are intended to describe the general nature and level of work to be performed by people assigned to it.
  • They are not to be construed as an exhaustive list of all responsibilities, duties and skills required of personnel so classified.
  • All personnel may be required to perform other responsibilities in addition to those specified from time to time, as needed.
  • We do not charge any application, processing, training, interviewing, testing or other fee in connection with the application or recruitment process. Should you receive a solicitation for the payment of a fee, please disregard it.
  • Furthermore, please note that emblems, logos, names and addresses are easily copied and reproduced. Therefore, you are advised to apply particular care when submitting personal information on the web.
  • We are an equal opportunity employer and value diversity inclusion. We do not discriminate on grounds of colour, race, nationality, religion, age, ethnic origin, disability, gender, marital status, or sexual orientation in our employment practices
  • Our people are all equally gifted in unique ways: we come from diverse traditions, personal experiences and points of view. And we want to include yours, Are you ready to inspire us with your ideas?
  • We encourage all applicants to apply and does not practice any discrimination in any recruitment process.
  • Applications submitted after the deadline will not be considered.
  • Due to the urgency of the position, we have the right to recruit a candidate who matches the required profile before the above deadline
  • Only qualified candidates will be invited for interview
Recommended: Ongoing Massive Recruitment for Academic & Non-Academic Staff at the University of Ibadan

Please Note: 

  • PINNACLE REPORT Is A Nigeria Online Media Platform, That share daily updates on available Jobs, vacancies, local and international scholarships, Government/international organization loans and grants.
  • we can not assist any applicant secure a job, loan, grant or scholarship. We only share the information for interested persons to apply.
  • Our admins will never call any applicant requesting for payment of my kind or request for any OTP code. Our services are absolutely free of charge. Beware of fraudsters

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