fbpx
BUSINESS & ECONOMYNEWSLETTERSME Biz

FG Extends Registration Deadline For Payroll Support Scheme

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.

READ ALSO: N-Power Creative: Popular Nollywood Actor Segun Arinze Visits Beneficiaries At Campus

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.

READ ALSO: Olam Emerges 2020 Employer Of Choice in Africa As Certified By Top Employers Institute

About Author

Aina Adepeju is a Mass Communication graduate. She loves photography, she is a Member of the Nigerian Institute of Public Relations (NIPR) and Advertising Practitioners Council of Nigeria (APCON). Adepeju can be reached via [email protected]

Comment here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

    wpChatIcon