FG mandates NIN for grant applicants amid economic reforms

To simplify the application process for the Presidential Conditional Grant Scheme, the Ministry of Industry, Trade, and Investment now mandates applicants to provide their National Identification Numbers (NIN).

The government, along with the Bank of Industry, has committed N200 billion across three funding categories to support manufacturers and businesses nationwide.

This decision aligns with new guidelines from the Central Bank of Nigeria, which require linking NINs with bank accounts.

Trade Minister Doris Aniete announced this directive on social media, emphasising its importance. Applicants will receive SMS notifications from ‘FGGRANTLOAN’ with instructions to securely submit their NINs. Only verified applicants whose NINs match their names will proceed.

Attention, applicants of the Presidential Conditional Grant Programme: Please watch out for an SMS from FGGRANTLOAN to link your NIN to your application. Prompt action ensures your application progresses. NINs must be in your name. No NIN update, no processing. Thanks for your… pic.twitter.com/nPt3ghyOVn

— Hon (Dr) Doris Nkiruka Uzoka-Anite MD,CFA (@DrDorisAnite) March 24, 2024

Despite President Bola Tinubu’s announcement in August 2023, where he pledged N75 billion to support 75 enterprises by March 2024, the grant’s distribution has faced delays.

Femi Egbesola, President of the Association of Small Business Owners, expressed frustration over the lack of communication about the fund’s status.

The delay underscores the need for clearer communication and faster efforts to provide much-needed financial aid to struggling businesses.