In Nigeria, the Central Bank of Nigeria (CBN) regularly rolls out intervention funds and grants aimed at supporting small businesses, youth entrepreneurs, farmers, and specific sectors of the economy. These funds are designed to ease access to financing, boost job creation, encourage innovation, and strengthen Nigeria’s economic development.
From healthcare support to creative industry financing and agricultural loans, CBN’s grants and intervention programs are administered either directly or through participating financial institutions like commercial banks, microfinance banks, and development finance institutions (DFIs).
If you’re a Nigerian entrepreneur or business owner hoping to access these financial opportunities, here’s a detailed, practical guide on how to successfully apply.
Types of CBN Grants & Intervention Funds Available
- Agric Small and Medium Enterprises Investment Scheme (AGSMEIS)
- Creative Industry Financing Initiative (CIFI)
- Targeted Credit Facility (TCF) for COVID-19 Relief
- Healthcare Sector Research & Development Intervention Scheme (HSRDIS)
- Nigeria Youth Investment Fund (NYIF)
- Accelerated Agricultural Development Scheme (AADS)
- NIRSAL Microfinance Bank Business Loans
How to Apply for CBN Grants & Intervention Funds
1. Identify the Suitable Grant or Fund
Visit the official Central Bank of Nigeria website or NIRSAL Microfinance Bank for current programs, eligibility criteria, and requirements.
2. Prepare Required Documents
Typical documentation includes:
- Business Plan
- Certificate of Business Registration (CAC)
- Bank Verification Number (BVN)
- Valid ID Card
- Tax Identification Number (TIN)
- Financial records or cash flow projections
3. Apply Through the Right Channel
Applications are submitted via:
- The CBN directly (for select funds)
- NIRSAL Microfinance Bank portals
- Participating commercial or microfinance banks
- Designated intervention fund websites
4. Attend Mandatory Training (If Applicable)
Some grants like AGSMEIS and NYIF require beneficiaries to attend an approved entrepreneurship training program before applying.
5. Track Application Status
After submission, you can track your application status via the respective application portal or designated helplines.
Important Notes:
- Most grants are non-refundable while intervention funds are typically low-interest loans with a tenure of 5–7 years.
- Ensure all documentation is accurate and up to date to avoid disqualification.
- Avoid third-party agents demanding unofficial fees.
CBN grants and intervention funds remain one of the most accessible ways for Nigerian entrepreneurs and SMEs to access business financing. With proper documentation, eligibility, and adherence to guidelines, you can position your business for growth using these opportunities.
