The federal government recently announced that applicants for the presidential trade grant program must link their National Identification Numbers (NIN) to their bank accounts to qualify for the proposed grants.
Ministry’s Announcement
The Minister of Industry, Trade, and Investment, Doris Uzoka-Anite, conveyed this directive on Sunday, highlighting its alignment with the recent Central Bank of Nigeria (CBN) directive on NIN-based account verification.
Verification Process
To comply, the ministry plans to send SMS messages via “FGGRANTLOAN” to applicants, requesting their NIN submission through a secure link. This step aims to ensure the continuation of the application process and verify applicants’ eligibility.
Minister’s Statement
Expressing gratitude for applicants’ interest in the Presidential Conditional Grant Program, the Minister emphasized the necessity of NIN linkage for application processing. Only verified applicants will proceed through the process, with NINs needing to match applicants’ names.
Background Information
In December 2023, the Federal Government initiated the Presidential Conditional Grant for Nano Businesses under the Presidential Palliative Program.
Selection Criteria
The program aims to support one million nano businesses across Nigeria’s 774 local government areas, with a grant of N50,000.00 per beneficiary. Beneficiary selection will prioritize women, youth, individuals with disabilities, senior citizens, and other groups based on specific criteria.
Collaborative Efforts
Beneficiary selection will involve collaboration between the Federal Government, State Governments, Ministers, NASME, Senators, and House of Representatives Members.
These measures underscore the government’s commitment to supporting small businesses and ensuring inclusivity in its grant distribution.
