Access Bank to Give Interest-Free Loans of 50 Billion Naira

By Sahabi Abdul

Access Bank said it will give as much as 50 billion naira in interest-free loans to small business owners to help them tide over the difficult market climate.

“Now more than ever, we remain committed to our purpose of impacting lives positively,” the bank, which is Nigeria’s biggest by assets, said in  statement onbits website.

The bank said the loan programme is its own way of helping small businesses and the working class recover after recent unrest that swept the country in protests against police brutality. 

Access Bank said it expects such credit to help stimulate the economy by having “a multiplier effect” that will lead to a more generalized recovery.

The unrest hit Nigeria at a time it was just emerging from the economic devastation of the lochdown instituted earlier invthe year to curtail the spread of the coronavirus.