DG, SMEDAN, Dr Dikko Umaru Radda
By Anthony Maliki
The Director-General, Small and Medium Enterprises Development Agency of Nigeria, (SMEDAN), Dr Dikko Umaru Radda said the Agency has once again extended the moratorium it granted to the One Local Government One Product (OLOP) beneficiaries from three months to one year with effect from April this year.
A press statement from the Corporate Affairs Unit of the Agency quoted the Director General as saying that conscious of the fact that the MSMEs are critical to the sustenance of the nations economy, SMEDAN at the beginning of the year granted OLOP beneficiaries a 3 months moratorium extension on their repayments.
Dr. Radda, however, stressed that management after studying the current trends regarding the COVID-19 pandemic as it has affected Nigeria, it agreed to further extend the moratorium to one year with effect from April this year.
He, howeve, urged participating Micro Finance Banks (MFBS) to take note for compliance.
Similarly, Dr. Radda appealed to MSMEs in the country to avail themselves of the CBN-N50 billion COVID-19 fund for households and SMEs.
He said the CBN has waived some requirements meant for obtaining the loan as such MSMEs should capitalise on the waiver and access the loan.
