MSME Survival Fund: Why some CEOs will not be paid | Payroll Support. See Why Here

MSME Survival Fund: Why some CEOs will not be paid | Payroll Support. See Why Here

MSME Survival Fund

The payment of the 3 months salary support to thousands of employees of MSMEs in Nigeria has witnessed echoes of joy as the Federal Government continues to dish out N30,000 – N50,000 to the successful applicants of the Payroll Support Track of the N75 Billion MSME Survival Fund Scheme.

While the payment has continued among the employees and CEOs of the successful MSMEs, questions have emerged on why some CEOs are not being paid even after paying all the employees.

Related:MSME Survival Fund: Payment continues, applicants encouraged to be patient.

Recall that the Payroll Support Track of the MSME Survival Funds targets 500,000 Employees of fully Registered MSMEs who were affected by the compulsory lock-down necessitated by the COVID-19 Pandemic.

Clarifying on why some CEOs are being paid and some are not, the Project Delivery Office of the Scheme in a reply to several of such questions had noted that only CEOs who registered themselves as employees will be paid.

What this means is that as a CEO, you are a part of the organization in all ramification and deserves a salary in your organisation. Hence, during your registration for the Payroll Support Programme, as a salary earner and owner of the business, your should occupy the first and topmost position among the 10 Employees you registered.

However, a CEO who did not register him/herself as among the maximum of 10 Employees per MSME, is very unlikely to be paid.

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Payment has continued and every verified applicant who has not recieved his/her payment, should exercise some patience as payment is on going.

By the end of the current payment to the additional 146,065 successful beneficiaries, a total of 465,820 beneficiaries would have been paid under the Payroll Support Track.

Recall that before the commencement of the current payment, the PDO had in an update stated that 319,755 MSME Employees have been paid under the Payroll Support Track out of the proposed 500,000 MSME Employees to recieve the 3 months N30,000 – N50,000 Salary Supports under the Track.

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Hence, 319,755 + 146,065 gives the 465,820 beneficiaries as recently updated by the PDO on both Twitter and Facebook channels. Meaning that additional 34,180 beneficiaries will be added in another batch to mark up the 500,000 overall beneficiaries under the Payroll Support Track.

 

Hope this information was useful?

If you need us to help you with more verified and updated information about, MSME Survival Fund, feel free to ask questions at the comment section below.

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3 Comments

  1. What about those that have not been paid since last year which are already verified up to now no any response on that

  2. Kay excellent fashion designers,I applied and verified since last year out of my 3staffs 2was verified and none of us get pay

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