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COVID-19 loan: Applicants should expect payment in 2 days

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The Central Bank of Nigeria has said all successful applicants that have submitted their account details for the COVID-19 Targeted Credit Facility should expect to be credited within 48 hours.

The Director, Corporate Communications of CBN, Isaac Okorafor, disclosed this in a statement on Monday.

The applicants are households and small and medium enterprises hard hit by the COVID-19 pandemic, according to the CBN,

Okoroafor advised all successful applicants whose accounts had not been credited to visit the website of NIRSAL Microfinance Bank and input their account details.

He said “any successful applicant that does not receive a credit alert within 48 hours” should call for resolution.

He noted that the CBN had waived the requirements for the provision of guarantors by households and small and medium enterprises applying for the facility worth N50bn.

Okorafor said the bank’s move was meant to assuage the concerns of those who had fulfilled all requirements for the loan but were yet to have their accounts credited, particularly as other persons had begun to receive credit alerts.

He reiterated that the palliatives being disbursed were loans and should not be taken as grants.

The apex bank’s spokesman urged eligible households and small businesses to take advantage of the palliative to revive their businesses and contribute to steering Nigeria away from recession.

The CBN had on March 23 unveiled guidelines for the implementation of the N50bn Targeted Credit Facility as a stimulus package to support households and micro, small and medium enterprises hit by the COVID-19 pandemic.

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Business

BREAKING: Gas explosion rocks in Ipaja, Lagos

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An explosion has rocked a gas station in the Baruwa area of Ipaja in Lagos State.

It was gathered that the incident occurred around 05:45am.

First responders including men of the Lagos Fire Service and the Lagos State Emergency Management Agency have been drafted to the area.

Details later…

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Just-in: Fire guts fuel tankers, vehicles in Lagos

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There is a fire outbreak, which has gutted a fuel tanker, at Anthony inward Gbagada, Lagos State.

This was disclosed by the Federal Fire Service via its Twitter handle on Friday evening. The incident, which occurred around 10 pm, has razed at least two vehicles.

The agency urged road users to avoid the area and take alternative routes.

Also, the Director-General of the Lagos State Emergency Agency, Dr Olufemi Oke-Osanyintolu, confirmed the incident.

He said, “The Agency responded to distress calls and upon arrival at the scene of incident, it was discovered that a tanker with unknown registration number conveying PMS lost control while in motion and subsequently fell sideways.

“This led to an explosion in which two unidentified vehicles were burnt.”

A joint team of responders led by the Federal Fire Service, LASEMA, LASG fire service, LRU fire unit, Nigeria Police and LASTMA are working together to curb the inferno from escalating further.

Details soon …

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Business

Arik Air’s operation shut by Aviation unions

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Arik Air operation has been shut down by Aviation unions over the airline’s alleged failure to pay seven months’ salary arrears of workers.

This was disclosed by a source in the airline, who claimed anonymity because he is not permitted to speak on behalf of Arik Air.

According to him, aggrieved unions, the National Union of Air Transport Employees and the Air Transport Services Senior Staff Association of Nigeria decided to withdraw their services due to an alleged increment of Terminal levy by Bi- Courtney and other anti-labour practice.

Details later …

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