NIRSAL MFB’s Loans to SMEs, Households Hit N503bn

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Ndubuisi Francis in Abuja

NIRSAL Micro Finance Bank (NIRSAL MFB) has so far doled out loans totalling over N503 billion to about one million small and medium enterprises (SMEs) and households.

Most of the loans are from the COVID-19 intervention fund released by the federal government to cushion the impact of the pandemic on households and small businesses.

Figures from NIRSAL MFB indicate that the bank has disbursed N503,273,000,000 as loans to over one million beneficiaries, including individuals and families whose bread winners lost their jobs in 2020 as a result of the COVID-19 pandemic.

The loans comprise 612,321 households which received it ranging from N250,000 to N1 million, totalling N240,083,000,000.

Others are103,185 SMEs, which got
loans valued at N104,023,000,000
between 2020 and December 2021.

Households that are Non-Interest Beneficiaries (NIB) of the NIRSAL MFB loans numbering 21,027 have also so far secured facilities…



Source: Thisday Newspaper

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