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BoI: 311,000 Employees Got FG's Payroll Support Initiative

By James Emejo
The Bank of Industry (BoI), yesterday said about 311,000 employees of small companies have been supported under the payroll support initiative of the MSME Survival Fund Scheme.
Stakeholder Engagement Representative, BoI, Mr. Akan Ekure, added that about 64,000 companies had also been verified to date.
The payroll support scheme was introduced by the federal government to ameliorate the adverse impact of the COVID-19 pandemic on small and medium enterprises to enable vulnerable Nigerians keep their jobs and as well as the businesses to thrive.
Under the initiative, employees of approved enterprises are paid between N30,000 to N50,000 for a period of three months. ....

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BOI pays 311,000 beneficiaries from payroll support scheme

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The Bank of Industry said it has verified over 64,000 companies that applied to benefit from the Payroll Support scheme of the Federal Government and paid 311,000 beneficiaries under the scheme.
A statement on Tuesday said the BOI Stakeholder Engagement Representative, Mr Akan Ekure, disclosed this while speaking in Abuja on Tuesday.
He said while some companies had received N50,000 for payroll support, beneficiaries from other companies were paid N30,000 based on salary grades before the pandemic.
He said, “We are here to celebrate the Payroll Support which is part of the MSME Survival Fund. The Federal Government during the COVID-19 pandemic came up with the Payroll Support Fund. ....

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