CBN Interest-Free Loan 2023 Application Guide

The Central Bank of Nigeria and NIRSAL have joined forces to launch an innovative loan program – the non-interest loan facility.

Designed to empower and support Nigerian households, AGSMEIS (Agriculture Gradual and Small Business Enterprise Scheme) and MSMEs (Micro, Small and Medium Enterprises), this loan offers a unique opportunity for those who fit the criteria to access financing without the constraints of traditional interest-based loans.


The TCF, or Non-Interest Targeted Credit Facility, is a ray of hope for Nigeria’s households and businesses – particularly the Micro, Small and Medium Enterprises – who’ve been hard hit by the COVID-19 pandemic.

These interest free grants are designed to provide much needed funding for businesses to get back on their feet, and to offer support to households still struggling to make ends meet.

How To Apply For CBN Non-Interest Loan

If you want to apply for a CBN Non-interest loan for households and SMEs:

    • First, start by going to the NIRSAL microfinance website

    • Next, tap on “Apply for Non-Interest Facility”. When you tap that, it will provide you with two options. These options are “NON-INTEREST TCF” and “NON_INTEREST AGSMEIS“. Click on the “NON-INTEREST TCF” tab.

    • Once you tab the NON-INTEREST TCF tab, you will see two options: Household facility and SME facility. Pick the option that is most appropriate for you. Thereafter, you can start the registration properly.

    • You will be asked if you are just a new applicant or returning to your previous application. If you are applying for the first time, select “New Applicant”.

    • Next, move ahead to input your BVN. This will automatically produce some of your details. Fill in the empty fields required with your other details.

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