NEXIT Loan: Exited beneficiaries report to SERAP, seek immediate intervention | NEXIT Loan Training Latest Update Today 19th August 2022

The exited beneficiaries of the Batch A and B Npower Programme have commenced filing of complaints to the Socio-Economic Rights and Accountability Project (SERAP).

The Beneficiaries took the approach as a result of the continued delay in the implimentation of the NEXIT Loan Programme which its Training was flagged off by the Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar Farouk, on 15th March 2022.

During the Flag-off of the NEXIT Loan Training, the Minister noted that "Out of 467,183 trainees who indicated interest, 75,600 will participate in the first phase of the orientation programme expected to lead up to collection of loans of up to three million Naira from the Central Bank of Nigeria if they qualify"

"It has been my desire that the exited batches A and B N-Power graduate beneficiaries will not be left unattended to. In different channels,I kept on assuring these teaming youths that the Ministry of Humanitarian Affairs, Disaster Management and Social Development has worked very closely with the Central Bank of Nigeria to realize this dream.

"Today marks the beginning of the fulfilment of this awaited training that will enable those beneficiaries that indicated interest to participate in the CBN empowerment programme.

"For ease of coordination, this training programme will be conducted in phases. Let me also inform you that all the 36 States and FCI are participating in this long awaited NEXIT training programme. A total

of 75,600 participants are in this first batch of the training. We will continue to train the remaining batches in no distant time.

"The Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development is committed to ensuring that the strategic objectives of all the social intervention programmes are harnessed to achieve the desired goals and objectives.

"The N-Power programme is a critical part of the National Social Investment Programmes domiciled in the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development designed to achieve the National objectives of poverty reduction and job creation. The N-Power programme is key to helping young Nigerians acquire and develop life-long skills that ensure they become solution providers and entrepreneurs in their communities", Farouk added.

Several months after the 1st Batch of the NEXIT Loan Training which ended on 19th March 2022, the NEXIT Loan has neither been disbursed to the trained beneficiaries nor the remaining beneficiaries trained to access the loan.

Seeking SERAP's Intervention, the exited Beneficiaries have begun filing of complaints to SERAP through https://serap-nigeria.org and email: info@serap-nigeria.org.

Among other complaints filled to SERAP by the exired beneficiaries are the 5 Months owed Backlogs, Device for Batch B Npower beneficiaries, inability of some Batch A and B Npower beneficiaries enrolling for the NEXIT Loan Training, Continued "FAILED Payments" to Batch C Stream 1 Npower beneficiaries.  

NEXIT (N-EXIT) popularly known as NEXIT Loan Programme is an Exit or Transition Plan which is meant to train and grant soft Loans to Npower beneficiaries after completing their duration in the Npower Programme, according to the Federal Ministry of Humanitarian Affairs, Disaster Management and Social Development.

It is organised by the Ministry in collaboration with the Central Bank of Nigeria, to offer Loan amounts between N250,000 - N3million as obtainable in the CBN Intervention Programmes such as COVID-19 Targeted Credit Facility Loan, AGSMEIS Loan, and the Nigeria Youth Investment Fund Loan Scheme.

The Loan is a soft Loan of expected 7 years maximum Duration.

NEXIT Loan as the name implies is starting with the exited Batch A and B beneficiaries of the Npower programme, and will progress to the Batch C Npower beneficiaries as indicated by the Ministry.

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