Access Bank announces N50 billion interest-free loan for Nigerian businesses

In light of the recent occurrences in Nigeria, Access Bank has announced a 50 Billion Naira fund to support Nigerian communities and businesses with grants and interest-free loans.

Tochukwu Egesi
Tochukwu Egesi

Following the impact of the Covid-19 pandemic, and the hijacked #EndSARS protests that led to the looting and destruction of businesses which has thrown Nigerians and business owners into debts, Access Bank Nigeria Plc. has announced a N50 billion support facility in form of interest-free loans and grants to support Nigerian communities, youths, and micro, small and medium-scale businesses.

Disclosing this via its official LinkedIn page, Access Bank stated that the fund is expected to serve as a rehabilitation kickstart to affected businesses, people and communities, businesses.

Image Source: LinkedIn

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Nigeria In Focus:

Population: 206.6 million (Compared to South Africa's 59.6 million)

GDP: $504.57 billion (Compared to South Africa's $369.85 billion)

GDP Per Capita: $2,465 (Compared to South Africa's $6,193)

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Tochukwu Egesi

Associate: Genesis Analytics | Digital and Financial Services Strategy in Africa (Scribing in Personal Capacity)