The CBN/NIRSAL Microfinance Bank Plc AEGMIS Program


AEGMIS Program


Under this program, the CBN conceptualized this program with N150 Billion for the SME space in the country at a 9% interest rate, with 4% remitted back upon disbursement, giving a real interest rate of 5%. The maximum funding limit is N10 Million with a three (3) year tenor. The program is collateral free, although a lien would be taken on equipment purchased (if a fixed asset acquisition facility) with the use guarantors as a second level of security. Under this program, prospective applicants must undergo a financial literacy training with a nationally recognized Entrepreneurial Development Institute (EDI) of which Enugu SME Center is one.  After the training program (which costs N10,000) of which each applicant is offered a certificate upon of the program. Subsequently, said applicant puts together a business plan, at a cost (as agreed with a consultant) and submits their application with the Enugu SME Center for further submission to the CBN for approval. The program application is now fully digitized, The Enugu SME Center facilitates the indigenes in Enugu State to benefit from this Program


Most frequent questions and answers

There were delays caused by both internal and external factors but we are moving on now.

The new process is such that all trained applicants must be uploaded into NIRSAL MFB portal   for approval.

Enugu SME Center, Enugu is one of the accredited and approved EDI whose role or duty is to counsel, groom, train, guide and admit/approve necessary documents for prospective AGSMEIS Loan applicants.

The new process involves three (3) stages:

Stage 1:  Creation and upload of personal details of trained loan applicants into the NIRSAL MFB Portal. This is supposed to be done by the trained participants or loan applicant.

Stage 2: Correction and Acceptance of the uploaded details by the EDI

Stage 3: Upload of Business plan and other business details of the applicants.

The applicants are to come for the upload at Enugu SME Center, Enugu and they are to come based on their respective days on the Timetable/Schedule approved by management.

Both batched of 1 & 2are being attended to at the same time. The batched are not separated but merged together.

The N5, 000 payments is for payable to NIRSAL MFB consultant for the business plan portal and they are paid with applicants debit card as online transaction.

The structure of EDM has been scraped and all upload processes are stated in the process flow. The applicant collects the AGSMEIS loan from the reception and proceeds to the upload room with the entire necessary document. They collect all they need from their files which would be made available by the designated staff to the applicants.

For emphasis sake, no counseling, clarification, explanation is to be done in any staff office but must be done in mini conference room.

The things needed are copies of : CAC documents, Training Certificate, Performa invoices, Tax Identification Number (TIN),BVN, Account number both personal and corporate.

Kindly visit to get any other information needed. Also you can join the CBN/AEGMIS/NIRSAL Loan WhatsApp Groups by leaving your contact information at the reception.