881,081 Beneficiaries Access N503bn Loans Through NIRSAL MFB

The NIRSAL Microfinance Bank says it has so far disbursed over N500 billion as loans to over 800,000 Nigerians and businesses, to cushion the effect of COVID-19 Pandemic.

This is even as the bank has received 23 awards in 2021, for it’s efforts at providing liquidity to households and businesses.

A statement from NIRSAL MFB shows that the bank has disbursed N503,273,000,000 as loans to 881,081 beneficiaries.

Some of the awards received by the bank includes Public Service Bank of the Year 2021 Award to NIRSAL MFB from the National Public Service Awards and Summits; The Most Innovative Fintech Brands from African Award 2020 from African Brand.

Others includes, Awards of Excellence were given to NIRSAL MFB by Rotary International and Nigerian Army Officers Wives Association of Nigeria (NAOWA) award of excellence and the Outstanding Performance toward Economic Development award was delivered by the Sokoto Chamber of Commerce Industry and Mine.

Additionally, the Award of Excellence and Youth Empowerment by Ndigbo Youth Wing Association, National Youth Service Corps (NYSC) and Ahmadu Bello University Zaria were also given to NIRSAL MFB, .

At the last Monetary Policy Committee (MPC) Meeting in Abuja,
Meanwhile, the Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele said due the last Monetary Policy Committee meeting that the Committee was impressed with the Targeted Credit Facility (TCF) “for its contribution to alleviating poverty at the grassroot”.

The Committee he said “thus urged the CBN to continue its support through the TCF to ensure that more people benefit from this programme”.

Responding to the numberous awards, the Managing Director/ Chief Executive Officer of NIRSAL MFB Mr Abubakar Abdullahi Kure said the spread of the awards is a confirmation of its insistence on even spread across the six geopolitical zones if the country, which has promoted financial inclusion.

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