Central Bank of Nigeria (CBN) introduced the N50 billion
Targeted Credit Facility (TCF) as a stimulus package to support households and
micro, small and medium enterprises (MSMEs) affected by the COVID-19
pandemic.
This Guidelines outlines the operational modalities for the Scheme.
2.0 Objectives of the Facility
The broad objectives of the CBN’s N50 billion Targeted Credit Facility include:
i. Cushion the adverse effects of COVID-19 on households and MSMEs;
ii. Support households and MSMEs whose economic activities have been
significantly disrupted by the COVID-19 pandemic.
iii. Stimulate credit to MSMEs to expand their productive capacity through
equipment upgrade, and research and development.
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Classified as Confidential
3.0 Eligible Participants
i. Households with verifiable evidence of livelihood adversely impacted by
COVID-19; and
ii. Existing enterprises with verifiable evidence of business activities
adversely affected as a result of the COVID-19 pandemic.
iii. Enterprises with bankable plans to take advantage of opportunities
arising from the COVID-19 pandemic.
4.0 Activities Covered
Eligible activities under the Scheme include:
i. Agricultural value chain activities
ii. Hospitality (accommodation and food services)
iii. Health (pharmaceuticals and medical supplies)
iv. Airline service providers
v. Manufacturing/value addition
vi. Trading
vii. Any other income generating activities as may be prescribed by the CBN.
5.0 Funding
The Scheme shall be financed from the Micro, Small and Medium Enterprises
Development Fund (MSMEDF).
6.0 Participating Financial Institution
The eligible participating financial institution for the Scheme is NIRSAL
Microfinance Bank (NMFB).
