CBN – Agricultural Stimulus Grant/Loan From CBN – Agricultural Credit Guarantee Scheme Fund (ACGSF)
This page will tell you all you need to know about Agricultural Credit Guarantee Scheme Fund (ACGSF) and other issues of Central Bank of Nigeria.
This page will also tell you how you can complete a different application.
Contents
₦250,000 FG Loan by NDE
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Federal Government SMEDAN Loan
Amount: ₦1,000,000 per Individual
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Lagos State MSME Recovery Fund
Amount: ₦1,000,000 per Individual
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CBN Covid-19 Loan
Amount: ₦1,000,000 to ₦25,000,000 per Individual
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Nigeria Youth Investment Fund
Amount: ₦250,000 to ₦500,000 per Individual
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ACGSF is established by this Act. 20 of 1977. You may want to know that these ideas started working in April 1978.
At that time, start-up capital and paid-up capital were N100 million and N85.6 million, respectively. The federal government has 60% and the Nigerian central bank has 40%. By March 2001, the approved capital of the project had risen to N3 billion.
These funds guarantee the loans to farmers provided by the bank up to 75% of the illegal money for security.
These funds are administered by the Central Bank of Nigeria, which oversees the day-to-day operations of the campaign. The process identifies the qualified companies whose certifications can be issued according to the standards.
Between 1978 and 1989, when the government introduced lending to banks under this scheme, there was an increase in bank lending for agriculture, and even bank support for agriculture.
The second winner will receive a certificate and a cash prize of N75,000,00 and N50,000, respectively.
How to apply for an ACGSF plan
HOW TO APPLY FOR THE ACGSF SCHEME
Application forms under the Scheme are obtainable from various branches of participating banks throughout the country. The various forms normally completed in the operation of the Scheme by banks can be downloaded from the list below:
- Application for credit facilities
- Application for Guarantee
- Application for Enhancement
- Application for Extension
- Notice of Default
- Guarantee Claims;