Nirsel Has Now Started Giving Loan To Individuals, Here’s The Guide On How To Apply
Aliyu Abbati Abdulhameed, Chairman of the Central Bank of Nigeria (NIRSAL), said the agency has now started providing loans to farmers and all those involved in agriculture to provide food security in Nigeria.
The announcement comes as many African countries seek ways to boost agriculture for food security in their countries.
Aliyu said that in the case of agriculture, the commission could lend from one person to N1 billion.
NIRSAL was established in 2011 to provide loans to all investors and investors in agriculture.
“What we mean by agriculture is not just farming or poultry farming or animal husbandry, all the activities related to farming and herding from processing to transportation and sales we will give them loans from banks or and investors from N1 to N1 billion, ”said Aliyu Abdulhameed.
The chairman of NIRSAL added that if a bank or investor deposits his money, if there is a loss NIRSAL will pay.
NIRSAL Loan Steps
1. Apply for a loan from one of the NIRSEL Nigerian banks and apply for a loan from NIRSAL.
2. The bank will review the application form and send all required documents to NIRSAL on behalf of the borrower.
3. NIRSAL will review the documents submitted to it by the bank and verify their authenticity and completeness.
4. When the bank and NIRSAL confirm that all the documents are complete, they visit the lender’s farm or business.
5. If the agency and the bank are confident in the quality of the farming or dairying or business ventures planned by the individual, NIRSAL shall provide the loan to the borrower through a bank.
6. The bank then gives the borrower the money to start a business, and NIRSAL monitors it.
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