300,000 NPower exited beneficiaries to get CBN loan soon
The federal government has said that about 300,000 N-Power beneficiaries will be able to avail loan facilities from the Central Bank of Nigeria (CBN) after completing vocational training.
This was stated by the Minister for Humanitarian Services, Disaster Management and Social Development, Hajia Sadia Omar Farooq during a weekly ministerial briefing organized by the President’s Media Team on Thursday.
He said: “Yes, we have an exit strategy, which we partner with the Central Bank of Nigeria. And out of this 500,000, approximately 300,000 interest is to be invested in an exit program where you can be trained in different skills, skills of their choice and they will be given a loan by the Central Bank of Nigeria to start their own business. .
“It simply came to our notice then. We are in the process of training those who have shown interest. And I am confident that before the end of this quarter, these people will repay these loans through CBN.
“Ministry as a government agency, we do not lend. Therefore, we need to partner with organizations that can do that.
“Unfortunately, some of these people were not very wise in their savings but for anyone who is really serious, most of them have saved.
About 109,000 N-Power beneficiaries have become entrepreneurs. They now own Labor and we have evidence that can be provided to you.
“It’s a very commendable program, and the people have benefited and the people are being supported. And we have an exit strategy. And we continue and it is a continuous process. ”