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Business Finance Info & Updates

MSMEs survival fund reopened for 30 states

Minister of State, Federal Ministry of Industry, Trade and Investment, Ambassador Mariam Katagum, yesterday said the Micro Small and Medium Enterprises (MSMEs) Survival Fund payroll support portal would be reopened for the remaining 30 states that have not met their quota.
Katagum also explained that Benue, Plateau, Bauchi, Kano, Kaduna, Rivers and the Federal Capital Territory (FCT) are not eligible to participate in the reopening exercise, as they had already met their quota.
The Steering Committee said in a statement that the portal would be reopened from January 27th to February 2nd, 2021 and the payroll support portal would cut across education, hospitality and general sector.
“The public is reminded of the following qualification requirements: businesses must have CAC registration; businesses must have a minimum of 10 and a maximum of 50 staff; business must be owned by Nigerians; must have verifiable BVN.
“The Scheme provides for 45 per cent female participation and 5 per cent Special Needs participation. The payroll Support Track of the MSME Survival Fund Scheme is a component under the Nigeria Economic Sustainability Plan, which was flagged off on the 21st of September 2020, is aimed at supporting vulnerable MSMEs in the payroll obligations of over 500,000 employees for a period of 3 Months. Kindly note that registration for this scheme is FREE. Beware of Fraudsters.”

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