The Central Bank of Nigeria (CBN) recently announced the addition of NGN 50 billion (USD 120 million) to its Targeted Credit Facility, a stimulus program for micro-, small and medium-sized enterprises (MSMEs) as well as households affected by the pandemic.The funding will be disbursed through NIRSAL Microfinance Bank, which is minority-owned by CBN’s Nigerian Incentive-based Risk Sharing System for Agricultural Lending (NIRSAL).
Many people have applied for different empowerment programmes including; NMFB covid19 loan and Nigerian Youth Investment Fund (NYIF), which is controlled and reviewed by the same organization; Nirsal Microfinance Bank.Regards to the ongoing review of Nirsal Microfinance Bank covid19 loan for business owners and the Nigeria Youth Investment Fund (NYIF) loan for Nigerian youths to finance their business idea, there is a conflicting issues arising from the application review and loan approval of this programmes to beneficiaries.
The National President of National Association of Microfinance Banks (NAMB) Yusuf Ahmed Gyallesu has revealed that over 60% of the current 874 microfinance banks operating in Nigeria will close down because of the recapitalization policy of the Central Bank of Nigeria (CBN).According to him there used to be three types of Microfinance bank licenses.
So many people who applied for the covid19 loan under the watch of nisral microfinance bank in 2020 received the alert last year and it was a thing of joy because most applicants did not believe that such can happen in our great country Nigeria The covid19 loan is an economic stimulus package to revive the economy of Nigeria.
In Partial Fulfillment of the Federal Government in Partnership with the Central Bank Of Nigeria(CBN) and NIRSAL Microfinance Bank have begins the Approval of NYIF Loans to applicants.The Nigerian Youth Investment Fund(NYIF), which was designed last year by the Federal Government to support young Nigerian Entrepreneurs who have the Zeal of starting up their businesses have set for approval of loans to successful candidates.
The NIRSAL Microfinance Bank have begins the approval of loans to Applicants who applied for the loan this year.However, many who applied last year have received theirs while this year Applicants are yet to receive their own.The Covid 19 loan which was established by the Federal Government in partnership with Central bank and NIRSAL Microfinance Bank to support and Boost the country economy.
Many NIRSAL Microfinance Bank Loan Applicants are left with the believe that immediately you received your Loan Approval from NIRSAL Management that there is no further application.Therefore, in my newsletter for today I am going to list out some Category of people who can still be disqualify from the NIRSAL Microfinance bank Loan even after receiving the approval message.
Since the out break of Corona virus.The federal government of Nigeria came up with several relief scheme to alleviate the suffering of Nigeria youths who were affected pandemic due to the lockdown experience during that period The Nigeria youths investment fund initiated by the Muhammadu buhari led administration handle by Nirsal microfinance bank is one of such scheme, the scheme was created to empower the youths.since the beginning of the scheme several Nigeria youths have applied through the Nirsal Microfinance Bank website.
The Nigeria youth investment is an initiative of the federal ministry of youth and sport to empower the youth between the age of 18 and 35 year.Applicants were invited to apply for different loan ranging from 250k for non registered business to 3million for registered business on the portal nyif.com.ng.
Today in our discussion, we are going to deliberate on the steps to follow immediately after your NIRSAL Microfinance Bank Loan is approved.But before I proceed, I will like to enlighten some people on the main goals and aim of NIRSAL Microfinance Bank Loan.The NIRSAL Microfinance Bank(NMFB) Loan was designed since last year by the Federal Government Of Nigeria in collaboration with Central Bank Of Nigeria(CBN), to eliminate poverty and promote employment in the country.
There is a trending image of a Short Messaging Service (SMS) supposedly sent a threatening message to a defaulting debtor who refused to pay up the loan owed the bank.
Yusuf Ahmed Gyallesu The President of National Association of Microfinance Banks, Yusuf Ahmed Gyallesu has revealed that the new recapitalization policy by Central Bank of Nigeria (CBN) for microfinance banks, will force over 60% of the banks to shut down.Excerpts; Introduce yourself sir.
The central bank of Nigeria has started giving out stimulus package to businesses and households affected by Corona virus.The total amount to be distributed is 50 billion naira.This was disclosed to the public in a Twitter post by the Nigeria incentive- based risk sharing system for agricultural- lending microfinance bank(NIRSAC) on Monday.
Everyone that is still expecting the NIRSAL Loan should read this carefully.In this article, we will look at the steps to take after your NIRSAL Microfinance Bank Loan is approved.Sometime last year, the Federal Government of Nigeria had set up the NIRSAL Microfinance Bank, NMFB Loan to help reduce the rate of poverty and boost employment in the country.
Nirsal Microfinance Bank has made known to the public that they are not the same entity as NIRSAL PLC.This is following the wide spread news some days ago that CBN has suspended NIRSAL bank over fraudulent and dubious activities.
CBN Gives Update On COVID-19 Loan Application The Central Bank of Nigeria has again explained that its N50bn Targeted Credit Facility was to support households and Micro, Small and Medium Enterprises affected by the COVID-19 pandemic.The apex bank in a tweet on Monday, April 12 through the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending Microfinance Bank, called on individuals and business owners affected by the COVID-19 to now apply and get the chance of benefiting up to N25m loan.
Collection of outstanding debts have been one of the most tedious task to venture into.Both banks and individuals lending out money have been having problem collecting their money from debtors which have probably been one of the reason one is having difficulties obtaining loans nowadays.
Nirsal Microfinance Bank (NMFB) opens an improved and more customer friendly Loan Application portal for 'Agric , Small, and medium enterprise scheme (AGSMEIS).
Following the recent misconception on social media that the NIRSAL PLC and NIRSAL Microfinance Bank(NMFB) are one, the NIRSAL Microfinance Bank have decided to clarify this notion by releasing of new memo to the entire public.
The NIRSAL Microfinance bank has again warned applicants and aspiring applicants against platform that shares almost the same name with them, whom the publics presume represent the interest of NIRSAL Microfinance bank.