CBN AGSMEIS Loan 2023/2024 Registration & How to Apply Without Collateral

CBN AGSMEIS Loan 2023/2024 Registration

CBN AGSMEIS Loan 2023/2024 Registration is in progress as of the time of publishing this post. Through the Agriculture, Small, and Medium Enterprise Scheme (AGSMEIS), a project of the Central Bank of Nigeria (CBN), you can obtain up to N10 million at 5% annually without putting up any collateral.

In an effort to support and supplement the Federal Government’s efforts to promote agribusinesses and small and medium enterprises as a vehicle for long-term economic growth and job creation, the Bankers’ Committee launched the AGSMEIS program.


What is AGSMEIS?

The Agri-Business/Small and Medium Enterprise Investment Scheme is an initiative to support the Federal Government’s efforts and policy measures for the promotion of agricultural businesses and small/medium enterprises (SMEs) as vehicles for sustainable economic development and employment generation

Objectives of Agric, Small and Medium Enterprise Scheme (AGSMEIS)

The objectives of the Scheme include :

  • To enable access to financing for Small and Medium-Sized Enterprises (SMEs)
  • To create in Nigeria the much-needed job opportunities
  • To build the value chain for agriculture and guarantee sustainable agricultural methods.
  • And finally, to increase the managerial ability of SMEs and agribusiness as a pipeline for expanding businesses that have the potential to grow into enormous corporate organizations.
CBN AGSMEIS Loan 2023/2024 Registration Eligibility

MSMEs in the following sectors are eligible:

  • Agricultural businesses,
  • Education,
  • Health,
  • Services (Hospitality, Restaurants, Catering, Services, etc),
  • ICT,
  • Manufacturing/Production,
  • Mining,
  • Creative Industry (Fashion, Design, Crafts, Entertainment, etc),
  • etc

How To Apply For 2023 AGSMEIS Loan In Nigeria Without Collateral

Step 1
Get Trained
Attend a one-week compulsory training at a CBN-certified Entrepreneurship Development Institute (EDI). You can check the list of CBN EDC Centres in Nigeria.


Step 2
Apply For Loan
The Entrepreneurship Development Institute (EDI) guides and assists you in getting all the necessary documents required to secure the loan. There is agsmeis loan application form pdf sample I uploaded online for informative purposes. You can get the current application form from the CBN EDC that trained you.

Step 3
Receive Funds
Loans are paid into the account of beneficiaries. Unqualified candidates are given feedback.

Step 4
Get Business Support Services
The Entrepreneurship Development Institute assists you to implement a business plan and provide business support services commercially.

Step 5
Make Sales
Sell products and services to pay back loans and make a profit.


Step 6
Repay Loan
Run your business, keep proper records, monitor sales, and expenses to maximize profit, and pay back the loan.

How do I access CBN AGSMEIS 2023 Loan?

Interested applicants are to visit and create an account which will enable them to start the application process, or visit any of the NMFB Certified

What is AGSMEIS Loan Interest Rate?

Five percent(5%) for the first five(5) years. If you obtain One Million Naira(N1,000,000), you will pay back One Million Fifty Thousand Naira(N1,050,000) throughout the duration of the loan.

More info at:

Do I need collateral?

No, this loan scheme does not require collateral.

Has disbursement started?

Yes, we have disbursed over N95B and this is still ongoing.

Upon approval of my loan can the funds be released to me as I deem fit?

No. Your approved loan amount will be disbursed to your NMFB account. The purchase of your equipment(s)/machinery, will be handled by one of the NMFB’s certified Vendors while the working capital will be accessible through your account for withdrawal, upon meeting all terms and conditions.

About 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 Private Limited Company in 2019 and commenced operations following the grant of a license by the Central Bank of Nigeria to operate as a National Microfinance Bank in the same year. It is Owned 50% by the Bankers Committee, 40% by NIRSAL, and 10% by NIPOST. So far the bank has disbursed approximately 776 million in loans to eligible SMEs under the AGSMEIS.

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Peter Hezekiah Lawson (Sir Pee). The CEO of A reputable researcher, Web Developer, ICT Instructor and a publisher of many research works in Education.