President Tinubu promised prior to last year's election a regulatory environment to encourage healthy adoption of digital assets, including cryptocurrency
AFP

The Federal Government has urged Presidential Conditional Grant Scheme applicants to submit their National Identification Numbers (NINs) alongside other necessary documents.

This scheme was aimed at supporting businesses impacted by recent economic reforms such as fuel subsidy removal announced by President Bola Tinubu on May 29 last year.

The Federal Minister of Industry, Trade and Investment of Nigeria, Doris Uzoka-Anite, took to X (formerly known as Twitter) to bring this announcement to the attention of all Presidential Conditional Grant Program applicants.

"Please watch out for an SMS from FGGRANTLOAN to link your NIN to your application. Prompt action ensures your application progresses. NINs must be in your name. No NIN update, no processing. Thanks for your patience!" she wrote alongside the statement.

The government has announced plans to distribute N200 billion in funding via the Bank of Industry to aid manufacturers and businesses across the country.

This initiative follows new regulations from the Central Bank of Nigeria, requiring individuals to link their National Identification Numbers with their bank accounts.

"The Ministry of Industry, Trade, and Investment thanks all applicants for their interest in the Presidential Conditional Grant Programme and assures that applications are being thoroughly processed," the statement mentioned.

It added, "Due to new regulations from the Central Bank of Nigeria, it is now required for applicants to link their National Identification Numbers with their bank accounts. We currently do not have a record of the NINs of those who applied."

Hence, all applicants will receive an SMS from "FGGRANTLOAN" containing instructions to provide this information through a secure link. This step is crucial for moving forward with the application process.

Only verified applicants will receive this message, and the NIN provided must match the applicant's name for the process to move further.

"We appreciate your patience and cooperation, and we will keep you updated on your application's progress. Thank you for your participation and contribution to national growth," it concluded.

Due to the economic reforms under Tinubu's administration, Nigeria is going through a difficult phase. Last month, The World Bank announced that it will increase the financial support for the country.

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