The federal government has mandated all applicants of the presidential trade grant programme to link their National Identification Numbers (NIN) to their bank accounts to be eligible for the proposed grants.
The Minister of Industry, Trade and Investment, Doris Uzoka-Anite, made this announcement on Sunday.
The Minister stated that this requirement complies with the Central Bank of Nigeria (CBN)’s recent directive on account verification with NIN.
She therefore explained that the ministry intends to send a text message through “FGGRANTLOAN” to applicants, asking for their NIN to be submitted for verification through a secure link.
- “The Ministry of Industry, Trade and Investment thanks all applicants for their interest in the Presidential Conditional Grant Programme and assures that applications are being thoroughly processed.
- “Due to new regulations from Central Bank of Nigeria, it is now required for all applicants to link their National Identification Numbers (NIN) with their bank accounts. We currently do not have a record of the NINs of those who applied.
- “Therefore all applicants will receive an SMS from ‘FGGRANTLOAN’ with instructions to submit this information via a secure link. This step is essential for the continuation of the application process.
- “Only verified applicants will receive this notification, and NINs must match applicant’s name for the process to proceed,” she said.
Backstory
Earlier in December 2023, the Federal Government of Nigeria released an application portal for its Presidential Conditional Grant for Nano Businesses under the Presidential Palliative Program.
- The scheme offers a grant of N50,000.00 per beneficiary, aiming to support one million nano businesses across the 774 local government areas.
- To select beneficiaries for its latest initiative, the Federal government said it will work alongside State Governments, Ministers, NASME, Senators, and House of Representative Members.
- It also plans to allocate 70% of spots to women and youth, 10% to individuals with disabilities, 5% to senior citizens, and 15% to other groups based on specific selection criteria.
