CBN AGSMEIS Loan 2019: How To Apply Without Collateral

The Central Bank Of Nigeria CBN is issuing loans to small and medium enterprises under the AGSMEIS Loan scheme 2019.

Agric, Small and Medium Enterprise Scheme AGSMEIS is the Bankers’ Committee’s initiative aimed at complementing the efforts of the Federal Government to promote agri-business as well as small and medium-sized enterprises as a vehicle for sustainable economic development and job creation.

From the AGSMEIS, you can access up to N10M at 5 percent per year– without collateral.

Objectives of the Agric, Small and Medium Enterprise Scheme (AGSMEIS)

The Scheme’s goals include:

  • To create much-needed job possibilities in Nigeria
  • To improve the agricultural value chain and guarantee sustainable farming practices.
  • To guarantee access to finance for small and medium-sized enterprises (SMEs)
  • To boost the managerial capacity of Agri-Business/SMEs as pipelines of fast growing enterprises that can evolve into corporate organizations.

Who is eligible for AGSMEIS Loan

MSMEs are eligible in the following industries:

  1. Agriculture,
  2. Education,
  3. Healthcare,
  4. Services,(Hospitality, Restaurants, Catering, Services, etc.),
  5. ICT,
  6. Manufacturing / Production,
  7. Mining, Creative Industry (Fashion, Design, Crafts, Entertainment, etc.), etc.

How to apply for AGSMEIS Loan In Nigeria Without Collateral

Step 1: Get trained

Train at a CBN-certified Entrepreneurship Development Institute (EDI) for a one-week mandatory training course.

Step 2: Apply for the Loan.

The Entrepreneurship Development Institute (EDI) will guide you and help you get all the papers you need to secure your credit.

You can obtain the current application form from the CBN EDC that trained you.

Step 3: Receive funds

For eligible applications, funds are paid into the beneficiaries’ account.

Feedback is provided to unqualified applicants.

Step 4: Get Business Support Services

The Entrepreneurship Development Institute will assist you in implementing the business plan and commercially delivering business support services.

Step 5: Make Sales

Sell products and services for reimbursement and profit.

Step 6: Reimbursement

Run your business, keep records, monitor sales and expenses to maximize profit and repay the loan.

What is the interest rate for AGSMEIS Loan?

This is the question any serious prospective entrepreneur should ask. The AGSMEIS charges as little as five (5) percent interest for the first five(5) years on overall capital.

In other words, if you get One Million Naira(N1,000,000), you will be required to reimburse One Million Fifty Thousand Naira(N1,050,000) over the period of the loan.

Get more details at:

About NMFB

The National Microfinance Bank is Nigeria’s leading financial institution authorized by the Central Bank of Nigeria (CBN). The Company was established in 2019 as a Private Limited Company and began operations after obtaining a license from the CBN as a National Microfinance Bank. It is owned by the Bankers Committee by 50%, by NIRSAL by 40% and by NIPOST by 10%.

Until now, the bank has disbursed about 776 million loans under the AGSMEIS to eligible SMEs.

Here is a list of CBN approved Entrepreneurship Development Centers EDC

CBN-EDC, Ibadan (South West)
Address: Old SDSTC (Oyo Oodua Skill Acquisition Centre Premises),
Samonda, along Sango-UI Road,
Ibadan, Oyo State, Nigeria.

CBN-EDC, PortHarcourt (South South)
30 Trans-Woji road, Grace plaza, by Slaughter Bridge Woji Town,
Port Harcourt, Rivers State

CBN-EDC, Maiduguri (North East)
website :
Address: Old Informatics Institute, Njimtillo, Kano Road,
Maiduguri, Borno State

CBN-EDC, Kano (North West)
Address: Murtala Muhammed Library Complex,
Kano, Kano State

CBN-EDC, Makurdi (North Central)
Off Jonah Jang Crescent,
Near Federal Secretariat,
Makurdi, Benue State.

CBN-EDC, Minna (North Central)
Address: Minna Innovation Institute,
Behind Niger State Sharia Commission,
Justice Ndajiwo Drive,
Minna, Niger State.

CBN-EDC, Enugu (South East)
Address: Ebenezer Villa Suite
8, Ogenyi Close, Off Cornerstone Avenue
Off Nike Lake Resort Road,
Enugu, Enugu State.

You can get more contact addresses of Entrepreneurship development centres in Nigeria @

Comments (7)

  1. I strongly support and agree with Muhammad Ali Abubakar comment. I am one of those Nigerians who are concerned that the those in privileged positions in government do not allow poor Nigerian people have access to those programs and facilities meant for developing SME’S. They conner all for themselves and their cronies. I suggest that CBN and The Bankers Committee should regulate/mandate that beneficiaries should apply through their recognised Associations of SME’S /ARTISANS. This will eliminate /check the fears expressed by the beneficiaries

  2. This is a long awaited dream come true,I want to grow vegetables/fish farm but I don’ t have a plot of land to begin with.Would cbn-agsmeis secure a plot of land for me so that I start my farm?

  3. We thank the Central Bank Of Nigeria for this

  4. I will apply, and if everything turns out to be as stated above, I will fight strongly for the unity of our great nation.

  5. Sometimes Nigerian have good creativity For downstream, but when it comes to monetary aspects sabotage and fatherism over takes everything.

  6. If these works as it is written above, no doubt our dear nation will achieve for eradicating poverty and depend on ourselves for all our needs as independent country.

    Most of the programs designed even implemented but the ordinary citizens can’t see or touch let alone feel that their government is working hard towards them.

    But those on top, scoop not allow it to reach ordinary Nigerians that are sitting on bear floor.
    When u see the words of programme on the paper and reading it and u will be happy like it is for every Nigerian whose deserves it, but when u starts processing it, there u will realize that the whole thing is just mainly for particular group of people…I hope this very one of 2019 it is different from the previous one’s..

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