The Ministry of Industry, Trade, and Investment has mandated applicants of the Presidential Conditional Grant Scheme to include their National Identification Numbers (NIN) as part of the essential criteria for accessing grants designed to alleviate the effects of recent economic reforms on businesses in the country.
The Editor understands that the Bank of Industry, on behalf of the government, disclosed its intention to distribute N200 billion across three funding categories to bolster manufacturers and businesses throughout the nation.
The adoption of the new rule was prompted by regulatory updates from the Central Bank of Nigeria, which necessitated Nigerians to link their National Identification Numbers with their bank accounts.
The Trade Minister, Doris Aniete, issued the new directive in a post on her official social media account on Sunday.
The post, titled “Update on the Presidential Conditional Grant Programme Application Process,” detailed that applicants would receive an SMS from ‘FGGRANTLOAN’ with guidelines to provide information via a secure link, highlighting the necessity of this action for the application process to proceed.
Furthermore, it specified that only verified applicants would receive this notification, emphasizing that National Identification Numbers (NINs) must match the applicant’s name for the process to move forward.
The post reads, “Dear Esteemed Applicants, The Ministry of Industry, Trade, and Investment thanks all applicants for their interest in the Presidential Conditional Grant Programme and assures that applications are being thoroughly processed.
“Due to new regulations from the Central Bank of Nigeria, it is now required for applicants to link their National Identification Numbers with their bank accounts. We currently do not have a record of the NINs of those who applied.
“Therefore, all applicants will receive an SMS from ‘FGGRANTLOAN’ with instructions to submit this information via a secure link. This step is essential for the continuation of the application process.
“Only verified applicants will receive this notification, and NINs must match the applicant’s name for the process to proceed.
“We appreciate your patience and cooperation, and we will keep you updated on your application’s progress. Thank you for your participation and contribution to national growth.”
The recent setback represents yet another postponement in the grant distribution unveiled by President Bola Tinubu during a nationwide speech in August 2023, aimed at supporting manufacturers and small businesses.
