Access Bank To Provide N50bn Interest-Free Loans To SMEs Affected By #EndSARS Protests

Access Bank to provide N50bn Interest-free loans to SMEs affected by #EndSARS protests
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Nigeria’s leading tier 1 lender and largest by customer size, Access Bank Nigeria Plc., has announced its offer of N50billion interest-free credit facility to businesses and youths affected by the EndSARS crisis.

The bank made the announcement over the weekend via its official LinkedIn page. It said the facility and grant are to support communities, the youths, and micro, small and medium-sized businesses.

The statement said: “Now more than ever, we remain committed to our purpose of impacting lives positively. In light of the recent occurrences, we will be supporting Nigerian businesses with 50 Billion Naira interest-free loans and grants. Watch this space for more information,”.

Meanwhile, the bank has also said it will issue a guideline for accessing the facility by Monday 26th October 2020. Mr. Herbert Wigwe, Access Bank Group managing director/CEO disclosed this to BusinessDay by phone interview at the weekend.

He said “Before Monday we will push out the guidelines so that it will start next week. It is for those small and medium-scale enterprises who have suffered from the #EndSARS crisis, to give them to help to rebuild at zero interest and also it will be available to the youth,”.

The #EndSARS protest last week saw businesses shut down, lives lost and several properties destroyed after the hoodlums hijacked the peaceful protest against the Special Anti-Robbery Unit (SARS) and Nigerian Police brutality by the youth across the country.

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