ARE YOU A MICRO, SMALL OR MEDIUM,BUSINESS OWNER??? DO YOU NEED FINANCAL ASSISTANCE FROM CBN TO START UP YOUR OWN BUSINESS ??? DO YOU NEED MORE FUND TO GROW YOUR BUSINESS??? THEN HERE ARE THE GUIDELINES YOU NEED TO FOLLOW TO QUALIFY YOU TO GET ASSISTANCE FROM CBN. CONTD

secondment, mentoring and registration with Mix Market, sponsorship of ratings, credit bureau and movable asset registry. The Fund shall review all proposals taking into account the capacity, organisation and the proposed programs of all applicants before they are considered for the Grant. Priority shall be accorded to PFIs based in the rural areas to promote financial inclusion. In addition, special consideration shall be given to PFIs that have signed Memorandum of Understanding (MoU) with the Central Bank of Nigeria’s Entrepreneurship Development Centres (EDCs) to provide financial services to its graduates.

1.5.2 Selection Criteria

 a) PFIs shall submit request to the Fund in a format which shall be prescribed by the CBN from time to time..

 b) Applications shall be processed on receipt of complete documentation.

 c) The CBN shall communicate the terms and conditions for the approved Grant within one month of submission. 

1.6 Management and Administration of the Fund  
The Fund shall be managed by the CBN under the terms and conditions defined in the Guidelines. In addition, the office that is responsible for the administration of the women component of the Fund shall be headed by a woman. The Fund shall have a Steering Committee constituted in line with its approved shareholding structure and chaired by the Governor, Central Bank of Nigeria. Other members shall include:

1. The Deputy Governor, Financial Systems Stability Representatives of: 

2. Federal Ministry of Finance Incorporated (MoFI) 

3. Federal Ministry of Agriculture and Rural Development (FMA&RD) - RUFI
4. Nigeria Deposit Insurance Corporation (NDIC) 
5. National Association of Microfinance Banks (NAMB) 
6. Association of Non-Bank Microfinance Institutions of Nigeria (ANMFIN) 
7. Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) 
8. The Banker’s Committee
9. Ministry of Women Affairs and Social Development (MWA&SD) 
10. Director, Development Finance Department of CBN 
11. Head, MSME Development Fund Office, Development Finance Department, CBN (Secretary)