The Central Bank of Nigeria (CBN) has refuted claims in the social media circles that loan seekers and owners of small-scale businesses who apply for COVID-19 loans are required to pay a certain amount as application processing fee.

In a statement by CBN’s Director of Corporate Communications, ISAAC OKORAFOR, he warned members of the public, particularly households and owners of small-scale businesses, to disregard any message requiring them to pay any amount to process their applications.

OKORAFOR advised prospective applicants to approach the CBN branch nearest to them for clarification on the procedure for accessing the 50 billion naira stimulus package to support households and small enterprises affected by the COVID-19 pandemic.