Nigeria to begin disbursing SEIFAC loan to applicants any time soon

The Federal Government will begin to disburse over 12.5Billion naira SEIFAC loan to applicants any time soon, payments were delayed due to the non-activation of applicants account.

All is set for FG to disburse Funds meant for SEIFAC applicants who were successfully shortlisted and verified.

The FG will, in no distant time disburse funds to all Shortlisted Persons in the SEIFAC Loan program.

According to FG, SEIFAC Loan will be disbursed in 3 weeks’ time, meaning massive disbursement will commence by September/October 2021.

The disbursement of funds to members will kick off and last for three weeks, after proper investigations and monitoring of member’s accounts.

Applicants are expected to visit their respective banks for account upgrades, as some members may fail to receive their funds due to the inability of their account to receive huge amounts of money.

Applicants can also visit their state or Local government SEIFAC coordinators to collect their ATM cards, for easy activation.

Members are entitled to farm on three crops which includes; maize, cassava, and rice. The management will also provide machines and fertilizers to help fasten the farming conclusion.

All members have three weeks from today to regularize numbers of the hectare requested, fill and submit all forms and payment of dues.

The CBN will provide this support to qualified members directly to their SEIFAC Project Operational Accounts. However, qualified beneficiaries will not be able to access this fund for anything other than what it was intended for, that is, subscribing with the SEIFAC for specific crop and Hectare(s) which the funds provides for.

After weeks, members should expect their funds in their respective wallets for their Agricultural business.

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