CBN set to begin the disbursement of Nexit loans to 300,000 N-POWER beneficiaries

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The Federal Government, on Thursday, said that there was an exit programme for about 300,000 N-Power beneficiaries to get loans from the Central Bank of Nigeria, CBN.

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The Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajia Sadiya Umar Farouk, made the disclosure during the weekly ministerial media briefing organized by the Presidential Communications Team, at the Presidential Villa, Abuja.

She said the government had a plan of putting about 300,000 applicants on a training programme while the CBN will provide them with loans.

SEE ALSO:  Npower News: Sadiya Umar Farouk set a new date for NEXIT loan training

The minister said: “On the N-Power, thank you for bringing that up and you asked another question if anybody really benefited from the N-POWER programme.

“We have 500,000 that have been on the programme with Batch A and Batch B being on the programme for four years and two years.

“The Batch A was on the program for about four years and we were giving them N30,000 stipends monthly. And the Batch B benefited for two years.

SEE ALSO: Npower Announces payment of Batches A-B 5 Months Backlog Payment

“So yes, the N-power beneficiaries have benefited because these are people who were not employed who had nothing to do, were engaged and were being paid stipends to use to earn a decent living.

“On the exit programme. Yes, we have an exit strategy in partnership with the Central Bank of Nigeria.

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Originally published by Newsway

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