NIRSAL Microfinance Bank (NIRSAL MFB) has disbursed N503,273,000,000 loans to approximately 1,053,215,837 Nigerian businesses as beneficiaries.
According to the organization’s data, there are indications that most of the facilities were provided under the Covid-19 intervention fund released by the federal government to mitigate the effects of the Covid-19 epidemic on homes and small businesses.
Some of the beneficiaries include individuals and families whose breadwinners lost their jobs in the 2020 coronavirus (COVID-19) epidemic.
NIRSAL MFB figures show that 612,321 households received loans ranging from N250,000 to N1 million total N240,083,000,000, while 103,185 small and medium enterprises (SMEs) received loans between 2020 and December 2002,0201.
In addition, families who are Non-Interest Beneficiaries (NIBs) of NIRSAL MFB loans numbered 21,027 have secured N9,091,000,000 so far.
Small and Medium Enterprises under the Non-Interest scheme (NIB SME) numbering 2,710 have accessed N1,057,000,000, while 31,067 Agric Small Medium Enterprises Scheme (AGSMEIS) beneficiaries have accessed N116,001,000,000 from NIRSAL MFB in one year.
Small and Medium Enterprises have reached N1,057,000,000 under Non-Interest Scheme (NIB SME) No. 2,710, while 31,067 Agri Small Medium Enterprises Scheme (AGSMEIS) beneficiaries have reached N116,001 in one year
In this direction, 105,244 Anchor Borrowers Program (ABP) successful applicants have availed loans of N31,001,000,000 while 5,527 Nigerian Youth Investment Funds (NYIF) have also repaid N1,009,000,000 loans.
Most of these loans are from the Covid-19 intervention fund, which has been released by the federal government to reduce the impact of the Covid-19 epidemic on homes and small businesses.
At the last Monetary Policy Committee (MPC) meeting in Abuja, Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Amefile said that the committee was committed to “the Targeted Credit Facility (TCF) to contribute to the alleviation of poverty at the grassroots level”. Is affected. “.
The committee, he said, “urges CBN to continue its support through TCF to ensure that as many people as possible benefit from this program.”
Inspired by the impressive record of NIRSAL MFB, many groups awarded the agency recognition in recognition of its vast contribution to poverty alleviation in the country.
In 2021 alone, 23 groups have showered awards on the NIRSAL MFB for recognizing the microfinance bank’s efforts to provide liquidity to severely affected households and businesses.
Some of the 23 awards were given to NIRSAL MFB for making these loans available to Nigerians. They include: “Public Service Bank of the Year 2021 Award to NIRSAL MFB from National Public Service Awards and Conventions; From African Brands to African Awards 2020’s Most Innovative Fintech Brands “.
Others are: Rotary International and Nigerian Army Officers Wives Association of Nigeria (NAOWA) award to NIRSAL MFB, while Outstanding Performance for Economic Development was given by Sokoto Chamber of Commerce, Industry and Mines.
The O’Neill Endigbo Youth Wing Association awarded the Outstanding MFB, Excellence and Youth Empowerment Award. The National Youth Service Corps (NYSC) and Ahmedo Belo University Zaria presented the Bank Award of Excellence.