PCGS MGT List 15 FAQs To Clarify Applicants Questions

PCGS MGT List 15 FAQs To Clarify Applicants Questions

The management of the Presidential conditional Grant Scheme PCGS have compiled a list of FAQs to clarify common concerns and questions that Applicants has been asking.

According to management many have already received their grants. They pleaded with those waiting for theirs to be patience and asked them to please hold tight.

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Below are list of Answers compiled by PCGS management to Clarify Applicants Questions:

1. What was the eligibility criteria for businesses to qualify for the N50 billion grant from the Bank of Industry?

Answer: Eligible businesses are nano businesses seeking to expand. They have to be willing to formally register their businesses and hire at least one additional person as their turnover increased. Requirements included personal and banking information such as BVN and NIN.

2. Has application for the grants closed?

Answer: Yes the application portal was closed at midnight on April 17" 2024.

3. Why was the application portal closed for grants?

Answer: The portal was closed due to an overwhelming number of applications, totaling over 3.6 million.

4. How will the BOI ensure transparency and accountability in the disbursement process of the NSO Billion grant?

Answer: The BOI uses NIN, BVN, and bank account details for beneficiary verification to prevent duplication. They also perform physical enumeration to reverify information, including taking live photos of beneficiaries.

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5. What is the time frame for the disbursement of the NSO billion grant?

Answer: The disbursement is currently in progress and processed in batches. It is expected to be completed by the end of May 2024.

6. Are there specific criteria or priorities for determining the order of disbursement to businesses?

Answer: Disbursements aren't based on any specific criteria but in the order applications are verified. The goal is to reach an estimated 1290 beneficiaries per LGA across the country totaling 1 million.

7. Why are some people getting their alerts but not me, even though | applied earlier?

Answer: Disbursement is subject to verification of NIN, which became mandatory after the initial application phase which required only BVN. The selection is random, without human intervention, from those who have passed both their NIN and BVN verification.

8. How do I know if I have been verified?

Answer: Verification is a digital process. Individuals will not need to be contacted after verification, but disbursements will happen automatically if they passed.

9. Will everyone who applied receive the grant?

Answer: No, of over 3.6 million applicants, only 1 million will receive the grant. This is the threshold based on the amount budgeted for nano businesses.

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10. Why can't you verify and pay everyone at the same time?

Answer: The verification process for over 3 million applications has been thorough and therefore time-consuming, conducted in batches to minimize errors.

11. Why are some states receiving grants, but nobody in my state has?

Answer: Grants have been issued in all states, proceeding one local government at a time.

12. How are the disbursements happening? Is it per state or alphabetical?

Answer: Disbursements are based on verified applications, state by state, and local government by local government.

13. Will you publish the list of beneficiaries?

Answer: Yes, the list will be available at the end of the process, with the option to check the status via BVN and last name.

14. If I am not successful this time, will there be another grant issued?

Answer: Currently, there are no plans for another grant. The decision for any further aid will depend on the President’s discretion.

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15. My details have changed since | made the application. What do I do?

Answer: The details captured during the application are final and cannot be changed, but this will not affect the payment as long as the bank account remains valid and matches your BVN and NIN.