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Nairaland Forum / Nairaland / General / Business / CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday (644988 Views)
SCAM ALERT: Theobarth grant disbursement / CBN’s N50bn COVID-19 Fund Disbursement June Applicants / How To Apply For NIRSAL Microfinance Bank CBN N50bn COVID-19 Loan. (2) (3) (4)
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Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by jamesbridget13(f): 9:42pm On Jan 23, 2021 |
CaSttLe:nirsal office is a distance from here. |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by jamesbridget13(f): 9:43pm On Jan 23, 2021 |
prince4pro2:I told her that as well. Thanks |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by Nobody: 9:49pm On Jan 23, 2021 |
Na alert me dey wait for.....my source gave me this secret info - 28th day of January, expect massive disbursement!! Fg warned Nmfb against holding onto beneficials money till next month. |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by ausproxi(m): 9:56pm On Jan 23, 2021 |
ausproxi: Seem nobody have an answer to this. Nawa o |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by omojesu202(m): 11:03pm On Jan 23, 2021 |
jamesbridget13: let this kind thing not happen to me ooo, smooth sailing I pray like the majority. which kind wahala be that |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by omojesu202(m): 11:06pm On Jan 23, 2021 |
ausproxi: you're lucky ooo. if I dey your shoe now na to dey thank God |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by stacyadams: 11:28pm On Jan 23, 2021 |
CaSttLe: ![]() I got mine last year bro ![]() 1 Like |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by Nobody: 11:40pm On Jan 23, 2021 |
mtcheew. |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by Kabiyesi12(m): 11:51pm On Jan 23, 2021 |
Stacyadam my person!
I just check ooo but still BVN does not exist. |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by stacyadams: 12:09am On Jan 24, 2021 |
Kabiyesi12: No worries bro..its on the way....kip checking 1 Like |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by jamesbridget13(f): 6:22am On Jan 24, 2021 |
omojesu202:my brother. It's so unfortunate honestly. Her joy just melted when she saw does not exist |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by merbenko: 6:45am On Jan 24, 2021 |
God when will our own approve, BVN details doesn't exist, Haba Baba God of Approval locate us please 4 Likes |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by meetgaya: 8:08am On Jan 24, 2021 |
ausproxi:I don't know what you want to know. is it the calculation? assuming you received N500,000.00 as a loan and to be paid in 3 years that is 36 months. your monthly principal repayment will be 500,000÷36months=13,888.89 every months for 36 months this what you are paying it doesn't change. it is your principal the money you collected from them. now interest on 500,000.00 the first month of 36 months you will pay 4% 500,000x4/100 =20,000 13888.89+20,000=33888.89 first month 2nd month 500,000-13,888.89=486,111.11 486,111.11*4/100=19,444.44 19,444.44+13888.89 33,333.33 for 2nd month and so till 36 months expires. this how commercial banks calculate their interest and make people to complain seriously. but may be NIRSAL will decide to take only 4% at the end of each year is not what I don't know. ie they take first calculation for the first year and 2nd calculation for the 2nd year until 3 years elapse which favourable. Note: principal is constant while interest changes by decreasing you can prove this by using Excel sheet thank you |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by meetgaya: 8:18am On Jan 24, 2021 |
meetgaya: note also if NIRSAL is going calculate at the end of the year your principal is got to be divided by 3 years not 36 months ie 500,000÷3 166666.67 every year I stand to be corrected thank you |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by ausproxi(m): 8:26am On Jan 24, 2021 |
meetgaya: Thank you very much for this. But what of the 4% that was removed from the initial principal during disbursement. Will that have any effect on the payback? I don't seem to understand that. |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by ausproxi(m): 8:31am On Jan 24, 2021 |
100trillion: Thank you sir but I was actually credited 473,500. I don't know how they did their own calculation.
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Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by Nobody: 9:02am On Jan 24, 2021 |
meetgaya:cc: ausproxi I think you're wrong. He is going to pay 9% interest...that 4% has been deducted already (read his offer letter) Btw, the value of interest and principal changes becos it's an amortized loan. Take note that your monthly payment doesn't changes (I'll refer you to Nmfb offer letter), he is gonna pay N15,899.00 for 36 mnths. I stand to be corrected tho. |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by Nobody: 9:07am On Jan 24, 2021 |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by meetgaya: 10:11am On Jan 24, 2021 |
ausproxi:as for this you are going to pay the principal. I just answer your question about 4% interest you asked based calculation |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by meetgaya: 10:14am On Jan 24, 2021 |
100trillion: I answered him based for 4% interest and based 500k loan and interest calculated in the bank. If you are going to 9% is still the same method |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by meetgaya: 10:17am On Jan 24, 2021 |
100trillion: note that there are two payments 1. principal 2. interest principal is constant while interest decrees except if there is increase in interest rate I don't know which payment you are talking about |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by Nobody: 10:29am On Jan 24, 2021 |
meetgaya:Read that offer letter again. Goodbye. |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by Nobody: 10:32am On Jan 24, 2021 |
meetgaya:It's an amortized loan. Principal ain't constant! Interest goes downward. |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by meetgaya: 10:40am On Jan 24, 2021 |
100trillion: I didn't answered him based on offer letter but on on his questions. I even began with "what do you want to know...." before answering his questions with assumption |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by meetgaya: 10:41am On Jan 24, 2021 |
100trillion: please answer his questions since you understood what he asked |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by stacyadams: 12:49pm On Jan 24, 2021 |
O |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by OgwuEgo: 2:36pm On Jan 24, 2021 |
you too like money, slow down on that. 100trillion: |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by DrTims(m): 4:02pm On Jan 24, 2021 |
No mind am ![]() OgwuEgo: |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by Nobody: 4:03pm On Jan 24, 2021 |
OgwuEgo:Imagine life without money........abeg, I'm in love with money, nigga ain't slowing down on it ![]() |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by ausproxi(m): 6:23pm On Jan 24, 2021 |
meetgaya: Thanks to you bosses for the explanations. cc: 100trillion cc: meetgaya |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by excess4luv: 6:30pm On Jan 24, 2021 |
For those getting "BVN does not exit" after receiving approval SMS please try both SME and household, it happened to me and my sister. We've been paid Wishing everyone success in the next batch of payment. Peace 2 Likes |
Re: CBN’s N50bn COVID-19 Fund Disbursement Begins Thursday by Lucil(f): 7:28pm On Jan 24, 2021 |
I actually got the approval text, next thing I input my bvn for validation and the page that popped up was saying so and so amount has been approved. My confusion here is I didn't see where to input my account details. Please who has passed through this �� |
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