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CBN 2021 Loan Application Form: How To Apply For Unsecured Loan: Apply for a CBN AGSMEIS 5% loan of N10 million today. The Agricultural Small and Medium Enterprise Scheme (AGSMEIS) is an initiative of the Central Bank of Nigeria. The CBN AGSMEIS 2020 loan application is currently underway – Apply here!

With the CBN AGSMEIS loan, you can access up to N10 million at 5% per annum from the Agric, Small and Medium Enterprises (AGSMEIS) program, an initiative of the Central Bank of Nigeria (CBN); it is without guarantee.

What is the Agricultural Small and Medium Enterprise Scheme (AGSMEIS)?

AGSMEIS is an initiative of the Committee of Bankers with the aim of supporting and complementing the efforts of federal governments to promote agribusiness / small and medium-sized enterprises as a vehicle for sustainable economic development and job creation.

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AGSMEIS is a voluntary initiative of the Committee of Bankers approved at its 331st meeting held on February 9, 2017. The program requires all banks in Nigeria to set aside 5% of their after-tax profit (PAT) each year.

The initiative aims to support the efforts and policy measures of the federal government for the promotion of agricultural enterprises and small and medium-sized enterprises (SMEs) as vectors of sustainable economic development and job creation.

Objectives of the Small and Medium-sized Agricultural Enterprises Scheme (AGSMEIS)


The objectives of the Plan include:

  • Ensure that small and medium-sized enterprises (SMEs) have access to finance
  • Generate much needed employment opportunities in Nigeria
  • Develop the agricultural value chain and ensure sustainable agricultural practices.
  • To strengthen agribusiness / SME management capacity as pipelines of growing businesses that can grow into huge corporate organizations.

Objectives of the CBN AGSMEIS loan form 2020/2021

MSMEs from the following sectors are eligible:

  • Agricultural companies,
  • Education,
  • Health,
  • Services (Hotel, Catering, Catering, Services, etc.),
  • TIC,
  • Manufacturing / Production,
  • Mining,
  • Creative industry (fashion, design, crafts, entertainment, etc.),
  • etc

CBN AGSMEIS lending activities

Activities covered by the Agricultural Program of the Central Bank of Nigeria, Small and Medium Enterprises, AGSMEIS Loan include;

  • Businesses along the agricultural value chain covering input supply, production, storage, processing, logistics and marketing. MSMEs of the real sector, including manufacturing, mining and petrochemicals.
  • MSMEs in the service sector, including information and communication technologies (ICT) and the creative industry. Other activities which may be determined by the committee of bankers from time to time.

AGSMEIS CBN loan eligibility

From now on, to access the AGSMEIS loan, certain conditions must be met.

  1. The interested candidate must have been trained by an Entrepreneur Development Institute (EDI)
  2. The interested applicant will apply for a loan via an EDI
  3. The requests will then be sent to CBN for processing.
  4. Candidates will be called for an interview concerning their company.
  5. Qualified people will be contacted and receive the loan.
  6. Clearly fill out the new form with all the required details, sign and have them authenticated by EDC –

To note: The maximum loan is 10 million; The interest rate is 5% per year; The tenor is 7 years old and the moratorium is 18 months.

Requirements for approval of CBN loan application and disbursement of funds.

The following requirements are needed either during the application or before the final approval of the CBN loan application and the final disbursement of funds to an applicant.

  1. Company registered with the CAC
  2. Proof of tax payment
  3. BVN
  4. Letter of introduction
  5. Guarantee letter
  6. Certification by an EDI
  7. Identity photo of you and your guarantor
  8. Valid identity card

Who can write an introductory letter for the AGSMEIS CBN loan?

  1. your pastor
  2. Chief Imam
  3. President of the AGL
  4. ADC President
  5. Village chief
  6. Senior Officials Level 14 above
  7. Managing Director of Blue Chip Companies
  8. Your friend or spouse can write the letter of guarantee.

Important Notice: Please note that applicants who submitted last year and received a link to provide more details before the latest requirements are posted do not need to resubmit.

AGSMEIS loan interest rate

Five percent (5%) for the first five (5) years. If you get one million naira (1,000,000 N), you will pay back one million and fifty thousand naira (1,050,000 N) over the life of the loan.


How to Apply for CBN AGSMEIS 2020 Unsecured Loan Form.

Step 1: Train

  • Attend a mandatory week-long training course at a CBN Certified Entrepreneurship Development Institute (EDI). You can check the list of EDC CBN centers in Nigeria.

Step 2: Apply for a loan

  • The Entrepreneurship Development Institute (EDI) guides you and helps you obtain all the necessary documents to secure the loan. Download the agsmeis loan application form pdf. Note that you can obtain the current application form from the CBN EDC who trained you.

Step 3: Receive funds

  • The loans are paid into the account of the beneficiaries. Unqualified applicants receive feedback.

Step 4: Get business support services

  • The Entrepreneurship Development Institute helps you implement a business plan and provide business support services on a commercial level.

Step 5: Make sales

  • Sell ​​products and services to pay off the loan and make a profit.

Step 6: Pay off the loan

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

About the National Microfinance Bank (NMFB).

The National Microfinance Bank is a leading Nigerian financial institution licensed by the Central Bank of Nigeria (CBN) in Nigeria. The company was incorporated as a limited liability company in 2019 and began operations following the granting of a license by the Central Bank of Nigeria to operate as a national microfinance bank in the same year. It is 50% owned by the Bankers Committee, 40% by NIRSAL and 10% by NIPOST. So far, the bank has disbursed around 776 million loans to SMEs eligible under AGSMEIS.


List of CBN Approved Entrepreneurial Development Centers (EDCs) in Nigeria.

The CBN EDC centers in Nigeria provide physical structures, training materials, equipment, human resources and other facilities that would ensure internationally competitive, efficient and sustainable services capable of meeting the needs of MSMEs in the country. This is to encourage private entrepreneurship, self-employment, job creation, income growth, poverty eradication and economic development.

CBN Entrepreneurship Development Centers (CBN EDCs) that target people with at least a high school diploma have the following specific objectives:

  • Develop entrepreneurship among Nigerians and provide an overview of the tools,
    technical and managerial framework of all functional areas of the company, including
    production, marketing, personnel and finance.
  • Develop the skills of future entrepreneurs to successfully start, expand, diversify and
    manage commercial enterprises and put them in touch with financial institutions for start-up capital,
    especially microfinance banks.
  • Generate employment opportunities for Nigerians in accordance with the provisions of the
    National Strategy for Economic Empowerment and Development [NEEDS] and recently vision
  • Raise a new class of entrepreneurs / owners, who can compete globally and succeed in
    MSME management and build bridges for the future industrialization of the country.
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List of CBN EDC centers in Nigeria.

Below is the list of EDC CBN centers in Nigeria and their addresses:

CBN-EDC, Ibadan (South West)
Address: Former SDSTC (premises of the Oyo Oodua skills acquisition center),
Samonda, along the Sango-UI road,
Ibadan, Oyo State, Nigeria.

CBN-EDC, PortHarcourt (South South)
30 route Trans-Woji, 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 (Northwest)
Address: Murtala Muhammed Library Complex,
Kano, Kano State

CBN-EDC, Makurdi (Center-North)
Off Jonah Jang Crescent,
Close to the Federal Secretariat,
Makurdi, State of Bénoué.

CBN-EDC, Minna (Center-North)
Address: Minna Innovation Institute,
Behind the Niger State Sharia Commission,
Judge Ndajiwo Street,
Minna, State of Niger.

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

You can get more contact addresses from Entrepreneurship Development Centers in Nigeria –

Entrepreneurial Development Center
website :
36, Murtala Mohammed International
Airport road, Lagos.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trade move involves risk. You should do your own research before making a decision.

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