The Director-General of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Dr. Dikko Umaru Radda, has dispelled media reports and announcements by some individuals and organisations that the agency is responsible for disbursing the Agric Business/Small and Medium Enterprises Investments Scheme (AGSMEIS) loans to existing and prospective entrepreneurs.
A press statement from the corporate affairs unit of the agency quoted the director-general as saying that SMEDAN only provides entrepreneurship training, certification as well as providing business development support services for both existing and prospective entrepreneurs who are desirous of assessing the AGSMEIS loans to upload their details into the NIRSAL Micro Finance Bank website.
Radda emphasized that SMEDAN does not provide loans. “We are not a fund disbursing agency, these intervention funds are domiciled with the Central bank of Nigeria and disbursed through NIRSAL Micro Finance Bank which has branches all over the federation.”
He urged members of the public to disregard any information stating that SMEDAN is disbursing the AGSMEIS loans or any other loans by the federal government.
Commenting on the ongoing MSMEs Mass Registration Programme by the Agency, Radda said SMEDAN is currently compiling data of credible MSMEs in the whole country which would henceforth benefit from all federal government MSMEs related intervention programmes such as grants, capacity building equipment support etc. and the proposed post COVID-19 MSMEs stimulus packages.