Npower News: Fifteen Frequently Asked Questions With Respect To The Federal Government Grant

According to Npower News, the handlers of the federal government grant have compiled a list of frequently asked questions to clear the air on some questions that applicants of the federal government grant have been asking.

According to Npower News many applicants for the federal government grant have already received their federal government grants. The management of the federal government grant pleaded with those waiting for their federal government grant to be patient.

Below are list of answers to questions being asked by beneficiaries, applicants and prospective applicants of the federal government grant 

Q. What was the eligibility criteria for businesses to qualify for the ₦50,000,000,000 federal government grant from the Bank of Industry?

A. Eligible businesses are nano businesses seeking to expand. They have to be willing to formally register their businesses and hire at least one additional person as their turnover increased. Requirements included personal and banking information such as BVN and NIN.

Q. Has application for the federal government grant closed?

A. Yes the application portal was closed at midnight on April 17th 2024.

Q. Why was the application portal closed for the federal government grant?

A. The federal government grant portal was closed due to an overwhelming number of applications, totaling over 3.6 million.

Q. How will the Bank of Industry (BOI) ensure transparency and accountability in the disbursement process of the ₦50,000,000,000 federal government grant?

A. The Bank of Industry (BOI) uses NIN, BVN, and bank account details for beneficiary verification to prevent duplication. They also perform physical enumeration to reverify information, including taking live photos of beneficiaries.

A. What is the time frame for the disbursement of the ₦50,000,000,000 federal grant?

Q. The federal government grant disbursement is currently in progress and processed in batches. Federal government grant disbursement is expected to be completed by the end of May 2024.

Q. Are there specific criteria or priorities for determining the order of the federal government grant disbursement to businesses?

A. The federal government grant disbursements are not based on any specific criteria but in the order the federal government grant applications are verified. The target is to reach an estimated 1290 beneficiaries of the federal government grant per Local Government Area across the country totaling 1,000,000.

Q. Why are some people getting their federal government grant but not me, even though i applied for the federal government grant earlier?

A. The Federal Government Grant disbursement is subject to verification of NIN, which became mandatory after the initial application phase which required only BVN. The selection is random, without human intervention, from those who have passed both their NIN and BVN verification.

Q How do I know if I have been verified?

A. Verification is a digital process. Individuals will not need to be contacted after verification, but federal government grant disbursements will happen automatically if they passed.

Q. Will everyone who applied receive the federal government grant?

A. No, of over 3,600,000 applications 1,000,000 will receive the federal government grant. This is the threshold based on the amount budgeted for nano businesses.

Q. Why can't you verify and pay everyone the federal government grant at the same time?

A. The verification process for over 3,000,000 applications has been thorough and therefore time-consuming, conducted in batches to minimize errors.

Q. Why are some states receiving the federal government grant, but nobody in my state has received the federal government grant?

A. Federal Government Grant have been issued in all states, proceeding one local government at a time.

Q. How are the federal government grant disbursements happening? Is it per state or alphabetical?

A. The federal government grant disbursements are based on verified applications, state by state, and local government by local government.

Q. Will you publish the list of beneficiaries for the federal government grant?

A. The federal government grant list will be available at the end of the process, with the option to check the status via BVN and last name.

Q. If I am not successful this time, will there be another federal government grant issued?

A. Currently, there are no plans for another federal government grant. The decision for any further federal government grant will depend on the President’s discretion.

Q. My details have changed since I made the federal government grant application. What do I do?

A. The details captured during the federal government grant application are final and cannot be changed, but this will not affect the disbursement of the federal government grant as long as the bank account remains valid and matches your BVN and NIN.