Nirsal Microfinance Bank began operations on the 25th of March 2019 with 7 branches and about 90 employees.

The Bank has grown in 3 years to 115 branches and over 800 staff nationwide and is gradually moving towards the attainment of its mandate of financial inclusion by establishing a presence in all the seven hundred and seventy-four (774) Local Government Areas of the country, while also leveraging technology for automation.

NMFB has also grown in terms of profitability to over N2 billion unaudited PAT in 2021.

The Bank has been instrumental to the post-pandemic economic recovery efforts of the Central Bank of Nigeria through the disbursement of intervention loans, viz Targeted Credit Facility (Covid-19 loan), Agric Business Small and Medium Enterprises Investment Scheme loans, (AGSMEIS), the Anchor Borrowers Program (ABP) and the Nigerian Youth Investment Fund (NYIF).

Since establishment, NMFB has disbursed more than N580 billion to over 900,000 beneficiaries nationwide.
As at today, we are implementing a Strategy for Sustainability and Growth through ‘A Paradigm Shift’ towards diversification of its income portfolio.

This has led to a greater focus on the development of eBusiness and the creation of specialized products to be deployed in the recently launched On-Balance Sheet lending.

Our banking channels have been enhanced. The banking application on both android and IOS operating systems is fully operational and the USSD banking system (*646#) for ease of banking in rural areas have also been launched.

This positions NMFB not only for increased accessibility but also for competitive operations as a Microfinance bank to provide credit to those at the middle and lower segments of the economy who have no assets or collateral enjoy banking services.

While focusing on future goals, NMFB has zero tolerance for sharp and unethical practices as well as accessing loans with intent to defraud the Bank.

To curb these, sensitization has been intensified to continuously enlighten the public on the Bank products, their features and acceptable practices.

Implementation of strategies around loan repayments and recoveries to ensure NMFB is perceived not as a Government agency for distributing social funds but as a Bank with consideration for profitability and sustainability is also ongoing.

Nice developments
But NIRSAL MFB Should grow beyond disbursement of loans for CBN
More Innovative strategies should be developed
And massive orientation
I bet 80% of Nigerians don't know they exist
A microfinance Bank should not be only to disburse and recover loans

Congratulations to them.

lol Corrupt Nirsal....


They will tell you to pay 10k or 20k for loan application and still not give you....


They only give loan to there cronies and people who are ready to part away with some percentage of the money like say the loan na free money....

Covid 19 Bank, this is the major bank that was used to dupe Nigerians

Thieves

Many farmers benefitted from this mfb. Kudos to the FG.

Bank wey Northerners use cashout during Covid19

Nirsal that promised to give me loan and in the process took #30k from me and my wife.
Wayo people.

Nirsal corruption incorporated

koikoi2:
Nirsal that promised to give me loan and in the process took #30k from me and my wife.
Wayo people.

That's not nfmb. Those are scammer. My friend never paid a dime to get loan from them.

Criminals. Northern bank

I once applied but didn't get. We live in a jungle, people!

chigoziri2403:
Nice developments
But NIRSAL MFB Should grow beyond disbursement of loans for CBN
More Innovative strategies should be developed
And massive orientation
I bet 80% of Nigerians don't know they exist
A microfinance Bank should not be only to disburse and recover loans

Nirsal is a fraud, a fraud and a complete fraud. All the loans go to cronies with a few spread to legitimate applicants in order to appear transparent. Their MD even has EFCC case involving owning of several mansions in Abuja. All the people I know that reached second stage interview never got it and no reason offered. Nirsal, CBN, Emiefele and everything you hear is fraud. Even that recent rice pyramid in Abuja was made up of mostly imported unprocessed rice from Chad, Niger etc. Emiefele is not qualified to be a small bank regional manager, his highest qualification is that he comes from the same village as Jim Ovia owner of zenith whom he served as houseboy and in return got elevated for loyalty despite crass incompetence. Nigeria will be the most useless country on earth within the next 30-50 years

Lol Nirsal my people

Many people I know benefitted from their loan disbursement during and after covid 19 palava.

Please Nirsal Bank should not request for the covid loan given to me again.... Cos am not ever willing to pay it back.

They have done well but they still have a long way to

My brother and I made this bank our official bank last year and it turned out to be the worst banking experience we ever had.

You transfer money it will not go through then bounce back.

My bro transferred 110k to a zenith bank account using NMFB mobile app. to this day they are still looking for the money. This is more than 4 months now. The branch manager said she's tired. I don't know if she want my brother to forget about the money in this buhari economy?

Any suggestions on how my brother can get his money back? Thank you all.

koikoi2:
Nirsal that promised to give me loan and in the process took #30k from me and my wife.
Wayo people.

Many scammers duped many in their name that time. I got 190k loan from them after 5 months of application without paying a kobo. I’m still surprised till date coz I applied for just formality, never believed they could disbursed

scam bank... they ate our FG loans


i applied... the took 20K and ended up doing nothing,,,

scammers
all of them and even FG

Congratulations.

But l am yet to benefit from the loan. Having qualified after submission of proposal and oral interview, the problem is just bad credit balance which is as a result of dormant first bank account not up to N1k.

I have activated the account and have been in use since then but for nirsal to do the needful now is the problem. My details are:

Olaitan Pius Ade
Ijebu Ode

inoki247:
lol Corrupt Nirsal....


They will tell you to pay 10k or 20k for loan application and still not give you....


They only give loan to there cronies and people who are ready to part away with some percentage of the money like say the loan na free money....

I was given without paying any fee up front.

How was a microfinance bank that was only [b][/b]established in 2019 able to secure CBN contract to disburse FG covid-19 palliatives? What was their track record that put them ahead of prior established microfinance banks in FG's estimation?

It's shocking to read all the negative comments here concerning a bank I'm intending to apply loan from.

Cunny cunny bank! After three attempts still no show.... Bank for the northerners

I need a loan, how do I go about it?

Anyone to put me through. Thanks!

LastProphet:


Nirsal is a fraud, a fraud and a complete fraud. All the loans go to cronies with a few spread to legitimate applicants in order to appear transparent. Their MD even has EFCC case involving owning of several mansions in Abuja. All the people I know that reached second stage interview never got it and no reason offered. Nirsal, CBN, Emiefele and everything you hear is fraud. Even that recent rice pyramid in Abuja was made up of mostly imported unprocessed rice from Chad, Niger etc. Emiefele is not qualified to be a small bank regional manager, his highest qualification is that he comes from the same village as Jim Ovia owner of zenith whom he served as houseboy and in return got elevated for loyalty despite crass incompetence. Nigeria will be the most useless country on earth within the next 30-50 years

nirsal is different from nirsal microfinance Bank,I understand the point you are coming from

chigoziri2403:
nirsal is different from nirsal microfinance Bank,I understand the point you are coming from

Yes I know but you have to open account at Nirsal microfinance in order to be disbursed from NIRSAL, one is in Wuse 2 head office the other at Area 10 former Nipost. They are a complete waste of your precious time my brother both of them

IbileIfe:

I was given without paying any fee up front.

You are among the very very few they give to confuse the information out there just like the Yaya Bello method where he pays a few state staff so they can confuse the information out there. They are liars. And even those that get eventually they dont get much in money but inputs mostly - fertilizer, chemicals, seeds etc and tell you so-so and so cost that amount. It's hopeless

pepericozi:
Congratulations.

But l am yet to benefit from the loan. Having qualified after submission of proposal and oral interview, the problem is just bad credit balance which is as a result of dormant first bank account not up to N1k.

I have activated the account and have been in use since then but for nirsal to do the needful now is the problem. My details are:

Olaitan Pius Ade
Ijebu Ode

3 of my mentees are at this stage since 2020, done even 2nd interview and presented their brilliant business plans. Just look for another thing to do this one is yet another corruption circus show. The only group of ordinary citizens that actually benefit from govt loans are northern groups of farmers, traders etc. All those anchor borrowers you hear goes to northern muslim/fulani farmer associations, they are the only ordinary citizens tha can access such.