Latest News On Nirsal Microfinance Bank Loans Today 14th December 2021

1. NMFB Continues Disbursement Of Equipment To Non-interest Banking Window Loan Beneficiaries

Nirsal Microfinance Bank has continued the disbursement of equipment to successful beneficiaries of Non-interest Banking Window Loan as some of the beneficiaries testify on receiving their equipment.

NMFB disclosed on their official social media accounts last month where they stated clearly that their approved vendors have started distribution of the equipment, urging beneficiaries who haven’t received theirs to be patient as they will surely get their equipment.

2. COVID-19 Non-Interest Loan Not For Only Muslims – NMFB Clarifies

The Nirsal Microfinance Bank has come out to clarify that the ongoing COVID-19 Non-Interest Loan for Nigerian affected by the COVID-19 Pandemic is not a religious affair.

This was disclosed in a public announcement on their Instagram account, where the management of the bank noted that the Scheme is for all Nigerians regardless of religious inclination.

NMFB however noted that an applicant of the Scheme must be adversely affected by the COVID-19 Pandemic, must be aged 18 years and above, must possess a Bank Verification number, and must have been running their own businesses.

They also went further to clarify the public difference between the Scheme and COVID-19 Targetted Credit Facility Loan Scheme, NMFB Stated that the Non-Interest Banking Window for TCF and AGSMEIS focuses on assets Financing.

4. NMFB Urges Beneficiaries To Start Paying Back Their Loan

Nirsal Microfinance Bank has urged beneficiaries whose Loans are due to start paying back their loan, stating that the programme is not a national cake.

This was disclosed by the Managing Director of Nirsal Microfinance Bank, Mr. Abubakar Abdulahi Kure, who stated that the Loan is essential to help those at the lower level of the economy. The idea is to create jobs, provide and create affordable and accessible loans and also grow the economy effectively.

He also made it clear that people think this is a public fund. There is a poor perception around it, which could pose a danger to recoveries. Some people feel it’s a national cake. There would be challenges around recoveries. We also have scammers around the products. Because people are desperate; because demand supersedes supply and the fund is limited, people get scammed.

He went further to urge those whose Loan is due to start paying back in order to help others whose Application are yet to be approved.