Npower News: How The Soft Loan Will Be Disbursed By The CBN | News Nigeria 24

Npower News: How The Soft Loan Will Be Disbursed By The CBN

Npower news
Npower news

The Npower EXIT package is a soft loan that will be given to Npower volunteers, according to Npower News on News Nigeria 24. That has completed the Npower NEXIT training and has obtained their Npower Nexit training certificates. Before the Npower volunteers receive the soft loan exit package, there are basic criteria that must be met by the Npower volunteers. See more Npower news below.

The following are the criteria;

1) Npower volunteers must have completed the one-week Npower NEXIT training.

2) Npower volunteers must have completed their business plans and these business plans must have been submitted by the Npower NEXIT training state coordinators.

3) Npower volunteers must have obtained the Npower NEXIT training certificate after the one-week Npower NEXIT training program.

4) Npower volunteers must have an active bank account.

5) Other criteria as communicated by the Central Bank of Nigeria.

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Npower news
Npower news

The Npower exit package, which is the soft loan, will be disbursed in the following ways below:

1) The Npower Nexit training consultants will adjust the financial details of the business plans, details to be adjusted include cost of equipments, cost of land, cost of materials, cost of payment to employees, cost of buildings, and financial plans and other details required for the business.

2) The business plan after being carefully adjusted will be forwarded to the Central Bank of Nigeria.

3) The Central Bank of Nigeria will receive all business plans of all Npower volunteers from Npower Nexit state training coordinators.

4) The Central Bank of Nigeria will use a flexible system to disburse the soft loan, the Nigeria Micro Finance Bank will be a major intermediary.

5) Npower volunteers will receive will receive ₦500,000 to ₦3,000,000 depending on the category of business and the loan amount stated in the final business plan, some equipments might be procured on behalf of the Npower volunteers.

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