The management of the Presidential Conditional Grant Scheme (PCGS) has put together a list of frequently asked questions (FAQs) to address common concerns and queries from applicants.
While disclosing that many applicants have received their grants, the body urged those still waiting to be patient.
if you are one of the applicants yet to receieve your grant, below is a list of answers compiled by the PCGS management to clarify your probable questions:
1. What was the eligibility criteria for businesses to qualify for the N50 billion grant from the Bank of Industry?
Answer: In order to qualify, individuals must be willing to officially register their businesses and hire at least one more person as their revenue grows. Necessary information includes personal details and banking information like 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 had to be closed because there were too many applications, with a total of 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 to verify beneficiaries and avoid duplication. They also conduct physical enumeration to double-check information, which includes taking live photos of beneficiaries.
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 are not based on specific criteria, but rather on the order in which applications are verified. The aim is to reach approximately 1,290 beneficiaries per Local Government Area (LGA) nationwide, totaling 1 million beneficiaries.
7. Why are some people getting their alerts but not me, even though | applied earlier?
Answer: Before receiving disbursement, your NIN must be verified. This verification is now required in addition to the initial BVN verification. The selection process is random and does not involve any human intervention. Only those who have passed both NIN and BVN verification will be considered.
8. How do I know if I have been verified?
Answer: After verification, individuals will not be contacted. Disbursements will occur automatically for those who have 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.
10. Why can’t you verify and pay everyone at the same time?
Answer: The verification process for more than 3 million applications has been meticulous and time-consuming. It has been carried out in batches to reduce 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.
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.
