• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Financial Literacy Small Business

N50 billion COVID-19 loan: How to repay your CBN/NIRSAL loan

Beneficiaries are expected to visit any NIRSAL MFB branches to obtain a repayment form.

Abiola Odutola by Abiola Odutola
February 16, 2022
in Small Business
400,000 people benefit from NIRSAL scheme , NIRSAL pledges funding support for farmers, NIRSAL explains why it is not yet disbursing N50b CBN facility

NIRSAL Managing Director, Aliyu Abdulhameed

Share on FacebookShare on TwitterShare on Linkedin

Following the announcement it made last week calling for the refund of loans obtained by Nigerians, NIRSAL Microfinance Bank has disclosed the loan repayment guidelines.

While some Nigerians believe that the repayment announcement came sooner than expected, the financial institution is bent on the refund move, as it is reaching out to the beneficiaries via its social media handles.

The repayment guideline was announced by NIRSAL via its Instagram page.

RelatedStories

The Honest Truth About Getting Loans Without Collateral in Nigeria — The Novice

The Honest Truth About Getting Loans Without Collateral in Nigeria — The Novice

May 28, 2025
Nigeria vs the World Bank: Truth, Myths, and Money Moves – Drinks and Mics

Nigeria vs the World Bank: Truth, Myths, and Money Moves – Drinks and Mics

May 17, 2025

According to the disclosure, the beneficiaries are expected to visit any NIRSAL MFB branches to obtain a repayment form, as its officials will provide further guidance.

Read: N50 billion COVID-19 loan: NIRSAL calls for repayment

Steps to loan repayment

  • Visit any nearby NIRSAL MOB branches to obtain a repayment loan form
  • Ensure your loan account is always funded
  • Ensure that your account number has been previously shared in your mobile number
  • View your offer letter on www.covid19.nmfb.com.ng

How some beneficiaries reacted to the call for loan repayment

Following NIRSAL’s tweet requesting for the repayment of the loans, Twitter users have expressed mixed feelings, an indication that the financial institution may have a problem getting back most of the loans, according to Nairametrics.

A Twitter user, Abdulrasheed Ibrahim with the handle, @Abdulra19898072 made some claims that are hard to verify but his comment had the most interactions. He said, “@cenbank  I don’t think many people have the means of paying, coz those that want to do business were not the ones given the loan, rather, some of your staff collected % from individual and randomly disbursing to those that will buy iPhones.”

Read: How to know if your NIRSAL COVID-19 loan is approved

Daniel Duke with handle @DanielDuke TOT took a more economical view of the situation saying, “Don’t worry, they are expecting repayments from the Grants that would be disbursed shortly. It’s a way to mop up excess cash that will be pumped into circulation through the  Grant payments. CBN’s plan to reduce inflation.”

Some lamented that they have not fully recovered from the pandemic. Stanleyoke with handle @OkerekeStanley3 “Covid-19 variance is still here with Us, the Economy is worst every day. There is no improvement and you are here talking about repayment. Can you please go to the market and check the prices of Food?”

Some Twitter users however took hilarious positions as regards the repayment of the loans. A user with the handle, @alkanetonline said, “I need another loan to repay the previous loan.” Another user joined him in lamenting that she has no idea where she’s going to get the money to pay back the loan.


Follow us for Breaking News and Market Intelligence.
Tags: LoansNIRSAL Microfinance Bank
Abiola Odutola

Abiola Odutola

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

Related Posts

The Honest Truth About Getting Loans Without Collateral in Nigeria — The Novice
Digital Media

The Honest Truth About Getting Loans Without Collateral in Nigeria — The Novice

May 28, 2025
Nigeria vs the World Bank: Truth, Myths, and Money Moves – Drinks and Mics
Digital Media

Nigeria vs the World Bank: Truth, Myths, and Money Moves – Drinks and Mics

May 17, 2025
CBN, forex
Financial Services

CBN warns Nigerians against fake contracts, grants, loans 

May 12, 2025
Why Taking a Loan in Nigeria Still Feels Risky
Digital Media

Why Taking a Loan in Nigeria Still Feels Risky

April 24, 2025
Tinubu sacks five ministers, appoints seven new ones amid cabinet reshuffle  
Op-Eds

More loans, more pains and the season of discontent

December 6, 2024
Nigerian public officials get N721 billion in bribes in 2023
Financial Services

Nigerians pay off N4.05 trillion personal loans in three months 

November 5, 2024
Next Post
Micro, Small and Medium Enterprises policy review awaiting FG approval – SMEDAN

SMEDAN registers 3 million businesses under its mass registration programme

Comments 18

  1. Muhammadt Salisu says:
    February 16, 2022 at 10:57 am

    All important

    Reply
    • Hauwa babagana says:
      September 7, 2022 at 10:07 am

      Please I need COVID-19 money I start a business pls help me

      Reply
      • HHauwa h hbabagana babagana says:
        September 7, 2022 at 10:10 am

        Please I need money to start a business pls help me

        Reply
  2. IBRAHIM TITUS says:
    February 20, 2022 at 2:52 pm

    Pharmacy selling of drugs and food story

    Reply
  3. Hauwa says:
    March 19, 2022 at 7:19 am

    We have applied the vendor golden pyramid from Kano State called us since September last year that is 2021 but we have not received the loan please Nirsal help us check the menace vendors are doing he gave us his contact all efforts to contact him prove abortive the office address he gave us was scam. They are just playing with our intelligence till date he is no where to be found please help us MD Nirsal.

    Reply
    • HHauwa h hbabagana babagana says:
      September 7, 2022 at 10:11 am

      Please I a job business pls

      Reply
      • HHHauwa h hbabagana babagana says:
        September 7, 2022 at 10:14 am

        Septembe 2022 please I need money for start a business thank you

        Reply
  4. Gambo madwal says:
    March 21, 2022 at 2:28 am

    How can reply covid-19 loan

    Reply
  5. Mustapha Modu mustapha says:
    April 6, 2022 at 11:31 pm

    My is mustapha modu am seller of food and drink

    Reply
  6. Muhammad usman says:
    April 17, 2022 at 3:11 pm

    How can reply loan

    Reply
  7. Muhammad usman says:
    April 17, 2022 at 3:13 pm

    My is muhammad usman i sell robber and phone

    Reply
  8. Muhammad usman says:
    April 17, 2022 at 3:14 pm

    How can reply covid-19 loan

    Reply
  9. abdullahiyahuza says:
    April 25, 2022 at 3:44 am

    ilike it

    Reply
  10. abdullahiyahuza says:
    April 25, 2022 at 3:46 am

    helf my business

    Reply
    • HhhHHauwa h hbabagana babagana says:
      September 7, 2022 at 10:23 am

      Septembe 7 2022 at 10.25 i need to help me promote my business

      Reply
  11. Umaru says:
    April 30, 2022 at 2:42 pm

    umarusuman45@gmail.com come in advance so I can

    Reply
  12. Shuaibu Abdu says:
    June 29, 2022 at 12:02 am

    I need to help me promote my busines

    Reply
  13. ARINZECHUKWU CHRISTOPHER OGBONNA says:
    July 20, 2022 at 7:05 pm

    Not even aware the the loan was disbursed. Maybe it was paid to selected number of people.

    Not seen anyone who was paid.

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Top 10 most affordable states to live in Nigeria – May 2025 ranking  
  • Visa appoints Aminata Kane as Head of Western and Central Africa 
  • Cybersecurity risks in registrar services: protecting investor data 

Follow us on social media:

Recent News

Top 10 most affordable states to live in Nigeria – May 2025 ranking  

Top 10 most affordable states to live in Nigeria – May 2025 ranking  

June 18, 2025
Visa appoints Aminata Kane as Head of Western and Central Africa 

Visa appoints Aminata Kane as Head of Western and Central Africa 

June 18, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics