Survival Fund Update: 3 Things To Do

The Micro, Small, and Medium Enterprise(MSMEs), is one of the categories of Survival Fund program that was designed by the Federal government to help reduce the effect cause by Coronavirus pandemic on Nigerian entrepreneurs.

However, over 50,000 of Nigerians have benefited from this program while some are yet to be benefited as the Federal government are still making plans for second disbursement.

Certainly, Applicants whose account was Successfully verified are the next in line to receive their payment, as this will mark the final stage of the program.

Therefore, in this article, I would like to share three important things every applicant that have pass through the account Verification process should consider before the fund disbursement.

Below are three things to consider if your account was Successfully verified:

1. Your payment may be reduced

recall that the amount received by the first batch of beneficiaries compared to the one received by the second batch was different as that of the second batch beneficiaries was lower than that of the first. Although, the same amount was given, but the number of months was reduced(I.e; only two months was paid to the second batch beneficiaries instead of three months as that of the first batch). Therefore, the same thing may be applicable to the third batch.

2. Consider the number of staffs in the verification form

During the application, a form was also given to all the business owners to put in the names of their staffs respectively. Therefore, the proprietor of the business must revisit the Survival Fund portal https://www.survivalfund.gov.ng to check the number of staffs that was given. According to the management, the only accepted number of staffs that was advisable was from 5-10, therefore giving beyond the exact number may lead to you not receiving the fund.

3. Correct Bank Verification Details

This is one of the most important thing which everyone must consider as mismatch of either personal or bank details can lead to disqualification. For instance, if the Bank Verification Number you used for the registration doesn’t match with your date of birth, you may also be disqualified.

In conclusion, applicants are to exercise patience as the Federal government are still making plans for the next disbursement. Applicants shouldn’t cease in checking their dashboard in the official portal.

I hope the article was helpful?

Don’t hesitate to issue any complaints regarding the survival fund program via the comment section.

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