It's no longer news the Federal government under president Muhammad Buhari, launched a N75 billion survival fund scheme, which was flagged-off in Abuja on Thursday September 2020 by the Minister of State for Industry, Trade and Investment, Ambassador Mariam Katagum.
The MSME Survival Fund, was designed to cushion the effect of COVID-19 on vulnerable SMEs. Starting with the Payroll Support targeting 100,000 businesses and 500,000 beneficiaries for salaries ranging from N30,000 to N50,000.
Also about 333,000 artisans and transport operators was said to get N30,000 grants to support them to reduce the effects of income loss.
Also, part of the fund was designated to be used to support 250,000 new businesses to formalise their business with the Corporate Affairs Commission (CAC).
The news of this initiative was broke out by many of the Special Advisers to president Muhammad Buhari, shortly after it was launched. Notable amongst them were Laureth Onoche, S.A on social media and Mr Anjuri Ngilali, S.A on public affairs. Both of whom had communicated this via Twitter platform and a telephone call on cool FM kano respectively.
Ever since the online application was closed and disbursement of funds commenced as at 23rd of November 2020, where the the first batch of beneficiaries were paid to the tone of about #10 billion naira, with the second batch being paid same two weeks later, the scheme had in a secular issued afterwards, urged the rest whom were yet to be paid in either batches, to exercise patience as payment for all will be completed upon completing verification. It further stated that the Payments will be done on or before the end of December 2020.
In the light of the above, the scehme had in a tweet yesterday, informed beneficiaries that anyone who had received a confirmation call but is yet to be paid, kindly remain patient.
Below is a screenshot of the tweet.
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