Registration of the payroll support scheme has been extended by the Federal Government (FG) of Nigeria to enable some state to meet their quota.
The payroll support scheme is designed to assist vulnerable micro, small and medium enterprises (MSMEs) by paying the salaries of their staff for a period of three months.
The scheme provides for 45% female participation and 5% special needs participation.
The payroll support portal (https://survivalfund.gov.ng/) will be open from January 27 to February 2 for different categories of businesses — educational, hospitality and other sectors.
The pSyroll Support Track of the MSME Survival Fund Scheme is a component under the Nigeria Economic Sustainability Plan, which was flagged off on the 21st of September 2020, and it is aimed at supporting vulnerable MSMEs in the payroll obligations of over 500,000 employees for a period of 3 months.
Requirement and Beneficiaries of the Scheme
According to the committee, states such as Benue, Plateau, Bauchi, Kano, Kaduna, Rivers and the federal capital territory (FCT) have met their quota, therefore they are not eligible for the reopening exercise. It applies specifically to states that have not met their quota of beneficiaries.
The requirements needed for the application include:
Business must have Corporate Affairs Commission (CAC) registration; must have a Bank Verification Number (BVN); must have staff strength of at least 10 persons and maximum of 50; must be owned by a Nigerian.
Emphasising that the registration process is absolutely free, it cautioned citizens to beware of fraudsters.
How To Register
To register for the payroll support scheme go to the website https://survivalfund.gov.ng/ select the appropriate category and submit information or necessary documents.