cbn AGSMEIS loan

How To Access CBN AGSMEIS Loan For SMEs

As a result of the dire need to generate employment opportunities and promote sustainable economic development in the country, the Federal Government has put up a funding scheme through the Central bank of Nigeria (CBN) and the Bankers’ Committee called AGSMEIS Loan, to complement the efforts towards achieving the goal.


AGSMEIS means Agri-Business Small and Medium Enterprise Investment Scheme. The major goal is to provide funds to the Nigerian citizenry to boost Agri business while also providing employment opportunities, improve cumulative supply and drive down inflation in the Nigerian economy.

However, other fields are also given attention. The full meaning of AGSMEIS must have pointed toward Agriculture, but in reality it is a CBN loan meant for individual or business persons.

The unique advantage provided by the loan opportunity is the huge funds given to successful applicants with its low annual interest rate. The Agri-Business Small and Medium Enterprise Investment Scheme (AGSMEIS) has lots of benefits which we will be listing them out in this article.

For a start, do note that each successful applicant can access up to 10 million Naira without collateral, and at just 9% interest rates yearly.


  1. AGSMEIS is created with a goal of generating increased employment opportunities within the country.
  2. The scheme is also targeted at improving youths’ access to modest and sustainable finance by Agri-businesses, Small, and Medium Enterprises.
  3. To enhance the management of agri-business and SMEs.
  4. To nurture enterprises into becoming huge corporations in connection with the plans of the Federal Government to encourage total economic growth and the real sector.


For a business to be eligible for the AGSMEIS loan, it has to belong to one of the following industry:

  1. Agricultural sector.
  2. The service sector: This includes the Creative Industry, and Information and Communication (ICT) industry.
  3. Real sector: This includes petrochemicals, manufacturing, and mining.
  4. Businesses in other sectors as projected by the apex bank.


Financing provided by the funding scheme is solely for start-ups, expansion of business, or for reviving poorly functioning companies which must also be aligned with BOFIA (1991) provisions as amended.

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Loan limit is Ten million Naira (N10,000,000), and a yearly interest rate of 5% offered. Tenor: Depending on the nature and development of the project, but a period of up to 7 years is given.
Moratorium given is a maximum of 6 months on interest and 18 months for principal.


Stage 1: Get Required Training

Interested applicants are to participate in a compulsory training with an Entrepreneurship Development Center (EDC) that has been certified by the Central Bank of Nigeria.

Stage 2: Apply For Loan

The Entrepreneurship Development Institute (EDI) will put you through the process of applying for the loan including providing all required documents to actualize the loan.

Stage 3: Get Funded

Loans you apply for are deposited into beneficiaries’ accounts. Applicants who are not qualified will receive feedback on their shortcomings.

The process between application and disbursement of funds often takes just six to eight weeks. It is automated and specifically designed to be effortlessly accessible.

Stage 4: Get Support Services for Your Business

You’ll be assisted by the EDI to execute a business plan and also offer support services for businesses commercially.

Stage 5: Sell Products And Provide Services

Make sales of products and offer topnotch services to your customers. Make profits from your business and ensure financial credibility.

Stage 6: Pay Back Your Loans

Keep accurate records of your finances, monitor business sales and expenses and increase profits. Then pay back your loan as required.


Applicants will receive an application form that must be properly completed. You can download AGSMEIS LOAN APPLICATION FORM by clicking on

Applicants are to provide their Bank Verification Number (BVN).

Make available a Certificate of Training from a reputable Entrepreneurship Development Institution (EDI) or proof of your membership with an organized private sector.

For micro enterprises and individuals, a letter of Introduction must be issued by a senior civil servant (level 14 and above), Traditional Ruler, Village Head, Clergy, District Head, MD of Blue Chip Companies, etc.

As an applicant, you are to provide evidence that your business name is registered or make provision of a certificate of incorporation. Annual returns are to be filed where necessary as required by the Companies and Allied Matters Act (1990).

Provide current Tax Clearance Certificate (TCC) and Tax Identification Number (TIN) where necessary.

To become eligible for the AGSMEIS funds, you must have been trained by an EDI, after which you’ll receive a form that would be filled and submitted to CBN.

You will also need a passport photo of you and your guarantor and a valid ID card.

Then CBN will make efforts to verify the details of your account through the banks, and then they’ll go ahead to do their own assessments.


  1. Must be an institution under the public sector which is also appropriately registered with Corporate Affairs Commission (CAC).
  2. The center must have existed for a minimum of three (3) years with proof of past training.
  3. They must have faculty that is qualified in functional areas which have been listed.
  4. Training modules must be provided alongside a rich curriculum that also includes skill acquisition, vocational, and entrepreneurship training.
  5. There must be at least 5 well equipped classrooms and 5 workshops available for training.
  6. They must demonstrate with evidence of their past record of training and mentoring of SMEs.
  7. Provision of audited records of their finances for at least the past two years.
  8. A provision of the Bank Verification Number (BVN) of the Entrepreneurship Development Centre (EDC), its promoters, and the Tax Identification Number must be made.
  9. They must provide at least three months training for startups in functional areas already identified, but then, existing business could be less than stipulated period.
  10. They must provide evidence of tax payments.
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Note that the given checklist is subject to the review of the Central Bank of Nigeria.

Here Are The Functioning Training Areas For Entrepreneurship Development Centers Under AGSMEIS:

  1. Creative Industry
  2. Health Services
  3. Welding and fabrication
  4. POP and Tiling
  5. Cosmetics, Beauty and Makeup Artistry
  6. Agriculture & Agro- allied Processing
  7. Courier & Delivery Services
  8. Catering & Event Management
  9. Animal Husbandry
  10. Art & Entertainment
  11. Publishing
  12. Kerbs and Electric Pole making
  13. Telecommunications
  14. Media
  15. Cottage Industry
  16. Fashion and Dressmaking
  17. Automobile Services
  18. Carpentry
  19. Apparels and Textiles
  20. Electrical and Electronics
  21. Hospitality
  22. Masonry
  23. General Management (applies to all disciplines)

who can apply for cbn agsmeis loan


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

  1. Centre for Entrepreneurial Development
    Address: 36, Murtala Muhammed International Airport road, Lagos.
  2. CBN Entrepreneurship Development Centres, Minna (North Central)
    Address: Minna Innovation Institute, behind Niger State Sharia Commission, justice Ndajiwo drive, Minna, Niger state.
  3. CBN Entrepreneurship Development Centres, Enugu (South East)
    Address: Ebenezer Villa Suite, 8, Ogeniyi Close, off Cornerstone Avenue off Nike Lake Resort Road, Enugu, Enugu state.
  4. CBN-EDC, Ibadan (South West)
    Address: Old SDSTC (Oyo Oodua Skill Acquisition Centre Premises), Samonda, along Sango-UI Road, Ibadan, Oyo state, Nigeria.
  5. CBN Entrepreneurship Development Centres, Kano (North West)
    Address: Murtala Muhammed Library Complex, Kano, Kano state.
  6. CBN-EDC, Port Harcourt (South South)
    Address: 30 Trans-Woji road, Grace plaza, by slaughter Bridge Woji Town, Port Harcourt, Rivers state.
  7. CBN Entrepreneurship Development Centres, Makurdi (North Central)
    Address: Off Jonah Jang crescent, near Federal Secretariat, Makurdi, Benue state.
  8. CBN-EDC, Maiduguri (North East)
    Address: Old Informatics Institute, Njimtillo, Kano road, Maiduguri, Borno state.
  9. Ideas Centre
    Address: 60, Erinwole Awolesi road, G.R.A. Sagamu, Ogun state.


Suppliers and Vendors can register and supply excellent and quality products to the beneficiaries.

Business Support Providers: You will be allowed to offer support services to the AGSMEIS loan beneficiaries after registering with NIRSAL.
Visit the NIRSALMFB website to register.

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How do I access CBN AGSMEIS Loan?
Get trained by first selecting CBN-Certified Entrepreneurship Development Institute (EDI) to guide you through the loan application process and ensure that all your documents are complete.

You can contact Nirsal Microfinance Bank (Mfb) for help as regards the AGSMEIS loan. On their platform, you will also be able to track your application till the final outcome.

What is the interest rate for CBN AGSMEIS loan?
In order to make it easier for everyone to pay back, the central bank of Nigeria in conjunction with the Federal Republic of Nigeria has ensured that successful applicants only pay nine percent (9%) as interest rate per annum.

What is the collateral to obtain CBN AGSMEIS loan?
This is a measure to cushion the effect of various challenges from pandemic (convid 19) and the economic meltdown currently happening in Nigeria. To make it easier for everyone to access, the Nigerian government and CBN ensure that it does not require collateral.

How long will it take to receive CBN AGSMEIS loan?
AGSMEIS loan is not a quick loan, therefore you can expect the entire process to be a bit slow, although totally automated. From application submission to disbursement, it may take six to eight weeks before the fund is disbursed to the account which you are expected to provide after receiving a message from the bank.

Who can apply for AGSMEIS?
All Micro, Small and Medium Enterprises in the Agriculture sector, Education, Manufacturing, Service sector, including Information and Communication (ICT) and the Creative Industry.

What are CBN EDIs?
CBN EDIs means Central Bank of Nigeria Entrepreneurship Development Institutions, they are public and private institutions approved by the CBN to carry out training for Entrepreneurs and SMEs.

Must I have to be certified by an Entrepreneurial development institute before I am qualified to access this loan?
YES, you will need to be certified by any of the EDIs in Nigeria to obtain the loan. The EDIs will train you and upon completion, you will be certified to receive the loan from any participating financial institutions like comercial banks and microfinance banks. Accredited EDIs are all over the nation.

How do I know where the Entrepreneurial development institutes are?
We have already provided the Entrepreneurial development institutes’ addresses on this page, see the article for the nearest EDIs close to you.

Who do I submit my application form to?
Only eligible entrepreneurs that have been trained and certified will submit their application forms to the EDIs. You will need to indicate a bank as the disbursing bank for onward submission to CBN.

How can I apply for CBN AGSMEIS loan?
Interested persons can apply with Nirsal Microfinance Bank via or visit any bank in Nigeria.

Must I be using a bank account before I can access AGSMEIS loan?
Since the loan will be disbursed into a bank account, it is very important you have an account with any bank. However, if you registered with Nirsal Microfinance Bank, they may open an account for you which you are to complete at their office.

I have my a business already, do I still need to be certified by the entrepreneurial institutes to be qualified to access this loan?
Yes, one of the eligibility criteria is to be certified by any of the CBN approved Entrepreneurial development institutes. It is compulsory for everyone to pass through this phase.

What is the maximum loan amount I can get on AGSMEIS?
The maximum loan amount successful applicant can get is ten million naira only.


  1. Jacob Joshua February 17, 2021
    • Ayobami Ola February 17, 2021

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