News from NPower: The EXIT package is a soft loan that will be given to Npower volunteers who have completed the NEXIT training and obtained their Nexit training certificates. However, there are some basic criteria that must be met before the Npower volunteers can receive the soft loan exit package, which are listed below.
1) Npower volunteers must have completed the NEXIT training program, which lasts one week.
2) Npower volunteers must have completed and submitted their business plans to the NEXIT training state coordinators.
3) After completing the one-week NEXIT training program, Npower volunteers must have obtained the NEXIT training certificate.
4) Npower volunteers must have a bank account that is active.
5) Other criteria as communicated by the Nigerian Central Bank
HOW WILL THE CENTRAL BANK OF NIGERIA DISBURSE THE NPOWER EXIT PACKAGE SOFT LOAN?
The soft loan portion of the Npower exit package will be distributed in the following ways:
1) The Npower Nexit training consultants will adjust the financial details of the business plans, such as the cost of equipment, the cost of land, the cost of materials, the cost of employee pay, the cost of buildings, and other details required for the business.
2) The business plan will be sent to the Nigerian Central Bank after it has been fine-tuned.
3) All business plans of all volunteers will be sent to the Central Bank of Nigeria by Nexit state training coordinators.
4) The Nigerian Central Bank will disburse the soft loan using a flexible system, with the Nigeria Micro Finance Bank serving as a major intermediary.
5) Npower volunteers will receive between $500,000 and $3,000,000, depending on the type of business and the loan amount specified in the final business plan; some equipment may be purchased on their behalf.