NEXIT: How To Check When The Loan Disbursement Will Commence

Loan disbursement is a process whereby Npower volunteers of the batch A and B Npower programme, is given loans by the Central Bank of Nigeria.

The loan will be disbursed by the Central Bank of Nigeria, this loan disbursement will be based on the loan amount in the business plans of the Npower volunteers.

The loan disbursement process will start when all the business plans of all 230,000 exited Npower volunteers have been received by the Central Bank of Nigeria, once the Central Bank of Nigeria receives the business plans, the apex bank of Nigeria will go through the business plans one at a time and approve the business plans based on the following criteria;

1) The loan amount in the business plan

2) The type of business

3) The financial plan

4) The management plan

5) Profitability of the business 

6) Viability of the business 

7) Feasibility of the business

And other factors will be considered in the business plan.

Exited Npower volunteers that qualify for the loan will be contacted by the Microfinance Bank chosen when completing the business plan, the loan disbursement process will only begin after the second batch of the Npower NEXIT training have been completed, when the second batch of the Npower NEXIT training have been completed, the business plans of the Npower volunteers that have completed the Npower NEXIT training will be sent to the Central Bank of Nigeria, the Central Bank of Nigeria will vet the business plans as earlier stated then commence the process of disbursing the loan to exited Npower volunteers.

With the above processes exited Npower volunteers should have an idea of when the loan disbursement will commence.