#EndSARS: Access Bank to issue guidelines for N50bn interest-free loan, grant for MSMEs, youth

Access Bank launched an initiative to boost the creative industry with loan facilities aimed at capacity building and employment for individuals and businesses in movie production and distribution

Access Bank Plc will on Monday next week issue a guideline for accessing the N50 billion interest-free free loan and grant for small and medium sized enterprises and youth affected by the #EndSARS crisis.

Herbert Wigwe, Group managing director/CEO disclosed this to BusinessDay by phone interview at the weekend.

“Before Monday we will push out the guidelines so that it will start next week. It is for those small and medium scale enterprises who have suffered from the #EndSARS crisis, to give them to help to rebuild at zero interest and also it will be available to the youth,” he said.

The bank has set aside a minimum of N50 billion interest-free loans and grants to support communities, Micro, Small and Medium sized businesses and the youth.

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The bank disclosed this at the weekend through its official LinkedIn page.

Last week saw businesses shut down, lives lost and several properties destroyed after the hoodlums hijacked the peaceful protest against the Special Anti-Robbery Unit (SARS) and police brutality by the Nigerian youth across the country.

“Now more than ever, we remain committed to our purpose of impacting lives positively. In light of the recent occurrences, we will be supporting Nigerian businesses with 50 Billion Naira interest-free loans and grants. Watch this space for more information,” the bank said.

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.