How to Access 10 Million Naira Collateral-free CBN AGSMEIS Loan


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How to Access 10 Million Naira Collateral-free CBN AGSMEIS Loan: The Central Bank of Nigeria is giving collateral-free loans of up to N10,000,000 (Ten million Naira) to small businesses in a scheme called; Agric-Business/Small and Medium Enterprises Investment Scheme (AGSMEIS).

CBN AGSMEIS Loan: The sum of 66.72 Billion Naira has been disbursed under AGSMEIS to 17,624 beneficiaries as of October 30, 2020.

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10 Million Naira Collateral-free CBN AGSMEIS Loan.

The Scheme supports governments policy measures for the promotion of agricultural businesses, micro, small and medium enterprises (MSMEs) as vehicles for sustainable economic development and employment generation.

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Objectives of the Scheme

The objectives of the Scheme include :

  • To ensure Small and Medium Enterprises (SMEs)have access to finance
  • To generate much-needed employment opportunities in Nigeria
  • To develop agricultural value chain and ensure sustainable agricultural practices.
  • To boost the managerial capacity of Agri-Business/SMEs as pipelines of growing enterprises that can become huge corporate organizations.

CBN AGSMEIS Loan Application Eligible Sectors/Businesses

MSMEs in the following sectors are eligible:

  • Education
  • Health
  • Agriculture & Agro-allied Processing
  • Art & Entertainment
  • Automobile Services
  • Fashion and Dressmaking
  • Catering & Event Management
  • Courier & Delivery Services
  • Creative Industry
  • Apparels and Textiles
  • I.C.T
  • Cottage Industry
  • Media
  • Publishing
  • Telecommunications
  • Hospitality
  • Health Services
  • Welding and fabrication
  • Animal Husbandry
  • Cosmetics, Beauty and Makeup Artistry
  • Electrical and Electronics
  • POP and Tiling
  • Carpentry
  • Masonry
  • Kerbs and Electric Pole making
  • etc


Financing under the Scheme shall be for start-ups, business expansion or revival of ailing companies. The terms of the loans shall be as follows:

  • Loan amount:  Up to N10,000,000
  • Interest: 5% per annum
  • Tenor: Up to 7 years (depending on nature/gestation period of the project)
  • Moratorium: Maximum of 18 months for principal and 6 months on interest.
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Eligible applicants shall pick-up and submit a completed application form to the EDIs.

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Requirements for CBN AGMEIS Loan.

The following are the Requirements necessary either during application or before final approval of the CBN AGMEIS loan application and final disbursement of funds to an applicant.

  1. Registered business with CAC
  2. Evidence of tax payments
  3. BVN
  4. Letter of Introduction
  5. Letter of Guaranty
  6. Certification by an EDI
  7. Passport photo of you and guarantor
  8. Valid ID card

How to Access CBN AGSMEIS Loan.

To access the AGMEIS loan, there are some conditions that must be met:

  1. Visit the online application portal via
  2. Interested Applicants must undergo training by a CBN certified Entrepreneurship Development Institution (EDI)
  3. Interested Applicants will apply for the loan through the CBN accredited EDI
  4. The application will then be sent to CBN for processing.
  5. Applicants will be called for an interview regarding their business.
  6. Those qualified will be contacted and given the loan.
  7. Fill clearly the form with all the details required, sign and get them authenticated by the EDI –
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Important note:

Apart from training and certifying you, the EDI also guides and assists you in getting all necessary documents required to secure the loan, including a business plan.

The EDI shall collate, appraise and submit applications and business plans to CBN for Applicants.

Due to COVID-19, most of the EDIs are conducting training online as follows:

Fee: N25,000

Please note that the loan application itself is 100% FREE. The N25,000 only fee covers for the compulsory Training, Writing of Business Plan, other support services such as uploading of your documents to the CBN portal, etc.

Other AGSMEIS Opportunities.

  • Business Support Providers: You can register with NIRSAL and offer your support services to the beneficiaries.
  • Vendors and Suppliers: Register and supply good quality products/equipment to the beneficiaries.
  • Visit to register.

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