COVID19: NDE approves two months moratorium to beneficiaries

The National Directorate of Employment (NDE) has given a grace of two months to about 72, 000 beneficiaries of micro loans for loan repayments. This is coming shortly after the lockdown of some affected parts of the country resulting from the dreaded COVID19 pandemic. The Director-General of the NDE, Dr. Nasir Mohammed Ladan Argungu, disclosed […]

The National Directorate of Employment (NDE) has given a grace of two months to about 72, 000 beneficiaries of micro loans for loan repayments.

This is coming shortly after the lockdown of some affected parts of the country resulting from the dreaded COVID19 pandemic.

The Director-General of the NDE, Dr. Nasir Mohammed Ladan Argungu, disclosed that the NDE executive management gave the approval of two months moratorium for the beneficiaries.

A debt moratorium is a delay in the payment of debts or obligations.

The NDE boss noted that the beneficiaries are expected to continue with the payment from June.

Daily Trust reports that, considering the challenges of COVID19 pandemic, business activities have stalled within the country.

The disbursement had been carried out through the agency’s Micro Economic Enhancement Scheme (MEES) where the beneficiaries were given a sum of N10, 000 each.

Meanwhile, the NDE’s management further urged the over 40,000 beneficiaries, who were about to be empowered with loans, to be patience.

Dr. Nasir assured them that disbursement of loans and other resettlement packs would continue after the national lockdown due to the challenges of the coronavirus pandemic.