Before proceeding with today’s update on NEXIT Loan, let me first clear some of our readers who kept asking what NEXIT Loan is all about.
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NEXIT (N-EXIT) popularly known as NEXIT Loan Programme is an Exit or Transition Plan which is meant to train and grant soft Loans to Npower beneficiaries after completing their duration in the Npower Programme, according to the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development.
It is organised by the Ministry in collaboration with the Central Bank of Nigeria, to offer Loan amounts between N250,000 – N3million as obtainable in the CBN Intervention Programmes such as COVID-19 Targeted Credit Facility Loan, AGSMEIS Loan, and the Nigeria Youth Investment Fund Loan Scheme.
NEXIT Loan as the name implies is starting with the exited Batch A and B beneficiaries of the Npower programme and will progress to the Batch C Npower beneficiaries as indicated by the Ministry.
The Batch C1 Npower beneficiaries will form another batch of the NEXIT Loan Programme which will be communicated by the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development.
| SEE ALSO: Why Npower Batch C2 Posting Letter Download Link Is Blank |
Application for the NEXIT Loan begins with a registration process which will be done using the NASIMS service portal www.nasims.gov.ng.
A key process in the NEXIT Loan Programme is compulsory NEXIT Loan Training.
The Ministry uses the USSD Code *45665# for enrolment into the NEXIT Loan Training Enrolment, with the deduction of N30 Airtime for each trial.
Procedure for NEXIT Loan Training Enrolment and Availability Confirmation
- Just dial the USSD Code *45665# with any MTN (or other networks) line
- Select 2 (NEXIT) from the Menu by replying with the number “2”.
- Select 1 from the Next Menu to Check Eligibility Status.
- Enter your Npower Phone Number or BVN, then Send.
- Accept for N30 to be deducted from your Airtime, then it will say Thank you.
- Just wait a moment, you will get a text message about your Status from Npower.
- If shortlisted, go back and redial the *45665# code again and repeat number 2.
- Select 2 in the Next menu to Confirm availability for the NEXIT Loan Training.
- Repeat numbers 4, 5 & 6, you will get a text message saying you have successfully confirmed your availability for the NEXIT Loan Training.
| SEE ALSO: COVID-19 TCF/AGSMEIS Loan: CBN vows to recover loan from beneficiaries, slows down on Intervention loan Approval |
However, the Batch C1 Npower beneficiaries will utilize the NASIMS Portal for the NEXIT Loan Enrolment as their data is already contained in the portal.
But for ease when an applicant can not access the Internet, the USSD Code can be used.
The NEXIT Loan Training is conducted by approved Entrepreneurship Development Institutions (EDI) which will be chosen by the Ministry.
It is usually a one-week Entrepreneurship Development Training.
Another key process in accessing the NEXIT Loan is the writing and submission of the Business Plan.
The Loan Amount an applicant can access depends on the Applicant’s business plan. If the Business Plan is feasible bases on evaluation, it will be given higher loan amounts, up to N3million.
Originally published by Myinfoclock
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