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Home Business News

CBN’s N50 billion loan: NIRSAL warns Nigerians against fake loan adverts

Abiola Odutola by Abiola Odutola
April 25, 2020
in Business News
CBN, NIRSAL, Stanbic, Union, and Sterling banks have disbursed N4.5 billion to farmers
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NIRSAL Microfinance Bank (NMFB) has warned Nigerians to stay clear from advertisements that claimed state governments or organisations partner Central Bank of Nigeria (CBN) and NMFB on the N50 billion COVID-19 Targeted Credit Facility (TCF). This was disclosed in a statement issued by the financial institution via its Twitter handle.

The financial institution stated that it is not aware of any partnership with any state governments or various organisations/Associations on the CBN’s N50 billion facility and it would not be responsible for any losses incurred by Nigerians that failed to heed to the warning.

It stated, “The attention of the management of NMFB has been drawn to various advertisements in the name of state governments or various organisations/associations partnering with the Central Bank of Nigeria (CBN) and NMFB on the COVID-19 TCF.

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“While such advertisements carry the name and logo of the bank, the management of NMFB wish to categorically state that the bank is not in partnership with any state government/organization/association on the said TCF and are not aware of such partnerships.”

READ ALSO: BOOM: Nigeria’s total debt portfolio hits at N27.4 Trillion

NIRSAL Microfinance Bank (NMFB) explained that applicants under the CBN COVID-19 TCF are required to go through the application process directly via the bank’s online portal nmfb.com.ng/covid-19-support and are not required by the bank to fill out any other forms or provide information to any other party outside what is stipulated on the NMFB website.

“NMFB will not be responsible for any losses as a result of failure to heed this warning,” it added.

READ MORE: CBN temporarily suspends settlement of failed Visa and Verve card transactions

Public notice from the Management of Nirsal Microfinance Bank pic.twitter.com/Vq8x7ggOsn

— Nirsal Microfinance Bank (@NirsalMFB) April 25, 2020


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Tags: CBNCOVID-19 TCFcredit facilitycredit stimulusIntervention fundsNigerian Business NewsNIRSAL
Abiola Odutola

Abiola Odutola

For further inquiries about this article, contact: Email: abiola.odutola@nairametrics.com Twitter: @AbiolaOdutola @nairametrics

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Comments 15

  1. John glory grace says:
    April 25, 2020 at 8:24 pm

    Thank you so much, though am one the Nigeria cooperate affairs, a business man, am also interested of the loan. If there is a possibility for me to improve my my business I will be happy. Thanks.

    Reply
  2. Paul says:
    April 25, 2020 at 9:57 pm

    Please why Nirsal Microfinance Bank is not disbursing the AGSMEIS Loan that have been on since to its Applicants, instead they started another package of Covid-19 Intervention fund without any word on those they have cleared and approved their loan and waiting for disbursements?

    Reply
  3. Nwanyioma Uzoma Emmanuel says:
    April 26, 2020 at 1:04 pm

    AGSMEIS loan some approved applicants has gotten disbursement while some have not… please NIRSAL or CBN should do well to complete the disbursement because we are still the same people hit by Covid 19 on our businesses.

    Reply
  4. Abraham Shittu Dahbo says:
    April 27, 2020 at 3:50 pm

    I have been running this business for an upteem times now. But with the vivid 19 pandemics everything crumble hence, the need for this loan can never be overemphasized as we are hit by the lockdown.

    Reply
  5. Anonymous says:
    April 30, 2020 at 8:49 pm

    It doesn’t make sense why sme’ have to go through a rigorous stress with the application. We struggling with salary payment and other obligations. Most of us have bank accounts and bvn’ what can’t that be used to evaluate need. We applied since 17th no feedback till now

    Reply
  6. Fidelis nweke junior says:
    October 12, 2020 at 4:51 pm

    I’m one of the applicants that applied CBN’s#50billion Covid-19 loan since 2/5/2020. My application was approved through message I received but up till now nothing has been done. What is the problem?

    Reply
  7. Yusufu Muhammad kyellimi says:
    January 31, 2021 at 10:32 am

    I have apply for this loan since 27 may 2020 but nothin i achieve some have got the loan while we are not and all we are equal please be honest if i will have this loan my business will upgrade thanks

    Reply
  8. Awaisu says:
    March 25, 2021 at 10:00 am

    Thanks you too

    Reply
  9. Shitu saidu waziri says:
    June 24, 2021 at 1:12 pm

    We need our covid 19 loan pass pass

    Reply
  10. JIMOH QUADRI KAYODE says:
    June 26, 2021 at 6:21 am

    Pls my own question is this, agsmesis loan what is our hope for those who register since last year may 2020, despite upgraded the site nothing was done since then, I have reach 100% pass my assessment test open nirsal micro finance account still we couldn’t ear anything concerning it pls what is my hope.Thanks

    Reply
  11. ihuoma festus chukwudi says:
    September 20, 2021 at 10:55 pm

    y government cannot give me loan,I need a loan to starteup a business

    Reply
  12. Ismail haruna says:
    November 29, 2021 at 4:46 am

    I have apply for this loan since 27 may 2020 but nothin i achieve some have got the loan while we are not and all we are equal please be honest if i will have this loan my business will upgrade thanks

    Reply
  13. SALISU says:
    February 23, 2022 at 11:21 pm

    Salam

    Reply
  14. SALISU says:
    February 23, 2022 at 11:25 pm

    5,000,000
    SALISU SA ADU

    Reply
  15. SALISU says:
    February 23, 2022 at 11:25 pm

    Kafinta

    Reply

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