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Covid-19 Loan: Nirsal Microfinance Bank Issues Important Notice to all Applicants

Following the recent complaints from the general public that the FGN through some third party banks is requesting fund from the successful applicants of the COVID-19 CBN loan. The FG through NIRSAL, Microfinance Bank (NMFB) has sent a general notice to warn applicants not to comply with those fees as it is not from them.

Public Notice – June 2020


Following the recent developments of funds to applicants of the CBN 50bn Covid-19 TCF Loan, attention of the management of NIRSAL, Microfinance Bank (NMFB) has been drawn to various messages, requesting “processing fees” or “technical support fees” from successful applicants.

Management of NIRSAL, Microfinance Bank (NMFB) wish to categorically state that the bank is not in partnership with any third party on the said Targeted Credit Facility and are not aware of any such partnership.

Applicants under the CBN Covid-19 Targeted Credit Facility were required to go through the application process directly via the bank’s online portal https// and are not required by the bank to fill any other forms or provide any other information to any other party outside what is stipulated on the NMFB website. In this regard, disbursements is also carried out directly to the applicant and not via any third party.

NIRSAL, Microfinance Bank (NMFB) will not be responsible for any losses as a result of failure to heed this warning.

Nigerians are strictly advised to always adhere to the terms, policies and conditions from the approved website of the CBN https//

Please share this information to reach out to everyone. Don’t be a victim.

Thanks. For more information, visit the NIRSAL MICRO FINANCE BANK website at

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