PAYROLL SUPPORT SCHEME – HOW TO APPLY

Corporate Affairs Commission

PAYROLL SUPPORT SCHEME aims to Supports 500,000 thousand MSMEs in meeting payroll obligations of between 30 thousand Naira to 50 thousand Naira per employee over the period of three (3) months.

ABOUT PAYROLL SUPPORT SCHEME

The scheme is a conditional grant to support vulnerable micro and small enterprises in meeting their payroll obligations and safeguard Jobs in the MSMEs sector.

The scheme is estimated to save not less than 103 million jobs across the country and specifically impact on over 35,000 individuals per state.

SECTOR AND DURATION FOR THE PAYROLL SUPPORT SCHEME

The scheme will be implemented over an initial period of three months in order to provide immediate relief from the economic impact of the pandemic. There is a schedule for registration depending on what business sector.

payroll support scheme
Payroll Support Scheme Duration

PAYROLL SUPPORT SECTORS

  • Monday 21st September 2020 at 10pm, Registration begins for those business in Education Sector (Private Schools)
  • Friday 25th September 2020 at 12 am, Registration begins for those in Hospitality Sector
  • Monday 28th September 2020 at 12am, Registration begins for those in all sectors

Payroll Support Scheme Target Beneficiaries:

The payroll scheme targets two categories of beneficiaries namely: employees of MSMEs and Self-employed individuals, both schemes have made provision for a 45% female business participation and special needs participation of 5%.

1. Employees of MSMEs.
The benefiting companies to meet the following criteria:

  • Employees’ company Must be registered in Nigeria under the Corporate Affairs Commission, CAC
  • Must have BVN by company CEO
  • Must have a staff strength of no less than 3 persons
  • Must be owned by a Nigerian.

2. Self-employed Individuals in the following categories.

  • Service providers in the transportation sector. i.e. Bus drivers, Taxi drivers, Ride share drivers,(Uber, BoltTaxnfy etc) and Mechanics.
  • Artisans, Electricians Plumbers etc.

HOW TO APPLY FOR PAYROLL SUPPORT SCHEME

Registration for Payroll Support Scheme Begins on 21st September 2020. To apply visit : https://www.survivalfundapplication.com/