Following the onset of the global pandemic that is currently ravaging the world and crippling economies, various world leaders have come up with stratagem to support her citizens with Nigeria not left out as the Federal Government through the Central Bank of Nigeria and the Federal Ministry of Finance, Budget and National Planning had announced fiscal measures to mitigate the impact of the pandemic on the economy and households.

This was in form of a N50 billion Targeted Credit Facility (TCF) introduced by the Central Bank of Nigeria as a stimulus package to support and cushion the effects on households affected by the pandemic and disburse cash to micro, small and medium enterprises (MSMEs) through the Nigerian Incentive-Based Risk Sharing System For Agricultural Lending (NIRSAL).

With the managing director of NIRSAL microfinance bank, Mr Abubakar Kure stating at a briefing in April that it had received 80,000 applications for the facility of which 40,000 were households and with the bank affirming in a run-up to the disbursement, that it had informed stakeholders that they do not charge any fee, either for application or processing, it has come as a rude shock that investigations carried out to check the accountability of the disbursement by NIRSAL revealed ongoing corruption and...

Read more at: https://secretsreporter.com/intervention-fraud-applicants-for-n50billion-cbn-covid-19-intervention-fund-allegedly-asked-to-pay-n20000-by-nirsal/