Nigeria, Jan. 11 -- A loan scheme announced by the Cross River State Government has sparked public outrage after applicants were required to pay a N13,000 registration fee to access loans of up to N5 million.

The outrage followed a letter signed by Kalita Aruku, chairperson of the Cross River State Youth Empowerment Scheme, which was shared on Facebook by some residents of the state.

In the letter, Mr Aruku stated that the Cross River State Government, in partnership with the Federal Government's Renewed Hope Agenda through the Bank of Industry and Zenith Bank, was offering loans of up to N5 million to residents with existing businesses seeking to scale up.

"The loan will have an annual interest rate of 9% and can be repaid over three ...