The Ministry of Industry, Trade, and Investment, in response to the impact of recent economic reforms on businesses, has mandated applicants of the Presidential Conditional Grant Scheme to furnish their National Identification Numbers (NINs) as a prerequisite for accessing the grant. This measure aims to mitigate the challenges faced by businesses in the country.
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Under the initiative, the government, through the Bank of Industry, has pledged to disburse a total of N200 billion across three funding categories to bolster support for manufacturers and businesses nationwide.
This directive aligns with recent regulations from the Central Bank of Nigeria, which require Nigerians to link their NINs with their bank accounts.
The trade minister, Doris Aniete, announced the new requirement via her official social media platform, X (formerly Twitter), on Sunday.
“Due to new regulations from the Central Bank of Nigeria, it is now required for applicants to link their National Identification Numbers with their bank accounts. We currently do not have a record of the NINs of those who applied. Therefore all applicants will receive an SMS from ‘FGGRANTLOAN’ with instructions to submit this information via a secure link. This step is essential for the continuation of the application process.
“Only verified applicants will receive this notification, and NINs must match the applicant’s name for the process to proceed.
“We appreciate your patience and cooperation, and we will keep you updated on your application’s progress. Thank you for your participation and contribution to national growth.”