Last Updated on August 15, 2021 by Opeyemi Quadri
Nirsal Micro Finance Bank (NMFB), a CBN-dedicated bank for disbursement of government loans, has assured small business owners and individuals who accepted the loan offer of the government would receive a credit alert.
The bank made the assurance on its Facebook page while reacting to the delay in the disbursement of loan applications and assured Nigerians that credit alert to successful applicants would be activated when the upgrading of its system is completed.
“We assure you that all applicants who have successfully accepted our loan offers shall receive value in their designated bank accounts as soon as the upgrade is completed”.
This message is specifically meant for the applicants of CBN/NMFB’s Targeted Credit Facility (TCF), “NMFB is currently undergoing a system upgrade for the purpose of improving the processing cycle time for the volumes of loans disbursed to thousands of Nigerians on a weekly basis.”
Advice for tier 1 account holder
Those who created a bank account on their phone will have to go to their bank for an upgrade, NMFB says, “Applicants are reminded to ensure that only correct Bank details of Tier 2 and Tier 3 type accounts are provided, in order to enable seamless disbursement of loans”.
If you are yet to upgrade your bank account, you have to visit your bank branch to remove the limitation on the amount it can receive, see our guide at: https://infomediang.com/upgrade-bank-account-covid-19-tcf-loan
Sending a message to those who believed that the loan was their own share of the ‘national cake”, NMFB said: “We remind all Nigerians that funds disbursed through NMFB are LOANS, NOT GRANTS.”
It warned applicants to jettison any message or individuals who parade themselves as officials of the bank demanding access fees on NMFB loans.
NMFB is a single-digit credit facility facilitated by the Central Bank of Nigeria. It’s one of the economic recovery measures of the Federal Government after the COVID-19 pandemic.