How to Apply/Register for CBN Farmers Loan via Nirsal nmfb.gov.ng portal

How to Apply/Register for CBN Farmers Loan via Nirsal nmfb.gov.ng portal – N75billion has been allocated by CBN to NIRSAL (Nigerian Incentive-Based Risk Sharing in Agricultural Lending) to give out loans or grants to farmers who are interested to improve their farm or agricultural activities. This loan is for all the 36 states in Nigeria plus FCT. To register/apply for the CBN Nirsal loan for Farmers, you ought to be a farmer or have farming idea. Also, if you are into any farming or agricultural business, you can still apply. USE THE APPLICATION LINK OR PORTAL BELOW TO APPLY FOR CBN FARMERS LOAN THROUGH NIRSAL

About Nirsal CBN Loan

The loan guarantee scheme is a public-private sector initiative set up to transform the country’s agricultural sector. It was initiated by the apex bank, the Bankers’ Committee and the Federal Ministry of Agriculture and Rural Development (FMARD), to guarantee 75 per cent loans provided by Deposit Money Banks (DPB) to farmers as part of efforts to transform the country’s agricultural sector.

How Farmers will access the CBN Nirsal Loan

The grant or loan would be issued to farmers through commercial banks and other financial institutions.

Also Read; Apply/Register for CBN Agric Fund Loan 2020/2021: Steps on How Access AGSMEIS Loan

Who can Apply/Register for Nirsal CBN Farmers Loan

The following sectors in agriculture can apply or register for CBN Nirsal Loan for farmers:

• Input producers
• Farmers
• Agro dealers
• Agro processors and
• Industrial manufacturers with agricultural financing value chains – loan product development, credit distribution, loan origination, managing and pricing for risk, and loan disbursement.

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Requirements for Nirsal CBN Loan for Farmers

• Applicant must be a citizen of Nigeria
• Applicant must have proof of Local Government Identification Letter
• Bank Verification Number (BVN) is required
• Valid Email address and Phone number for further communication
• Applicant is expected to be a farmer or into agricultural activities as listed in the outline above
• Applicant should be able to tell what he/she would use the loan to do and how it can improve his or her farm produce.

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How the Nirsal CBN Loan work – How the 75billion is shared

The integration is driven by NIRSAL’s 5 pillars, particularly the Risk Sharing Pillar and the Technical Assistance pillars, such that:

• Risk sharing Facility is allocated 45 billion
• Insurance Facility is allocated 4.5 billion
• Technical assistance facility is allocated 9 billion
• Agricultural bank rating scheme is allocated 1.5 billion
• Bank incentive mechanism is allocated 15 billion.

All these sum up to N75billion approved by CBN.

Duration of Nirsal CBN Loan

The loan duration is between 24 – 28 months.

How to apply or register for Nirsal CBN Loan for Farmers

To apply or register online, Click https://nmfb.com.ng/ or https://nirsalmfb.caderp.com/account/landingpage

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