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NIRSAL Microfinance Bank Warns Public on Loan Scammers

NIRSAL Microfinance Bank on Monday raised the alarm over the activities of scammers posing as its staff or agents, demanding and receiving money from unsuspecting members of the public purportedly to secure COVID-19 Targeted Credit Facility (TCF) or the Agri-Business Small and Medium Enterprises Investment Scheme (AGSMEIS) loan.

NIRSAL in a statement cautioned the public against falling prey to such people because the COVID-19 Targeted Credit Facility being disbursed by NMFB on behalf of the Central Bank of Nigeria is a loan and not a grant which beneficiaries must pay back with interest.

“We also wish to inform the general public who may have been scammed by these unscrupulous people to lodge a complaint on our Whistleblowing portal by sending us an email on

The Central Bank of Nigeria (CBN) unveiled an initial N50 billion target credit facility for households and small and medium enterprises hit by the COVID-19 pestilence last year.

The loan was through the NIRSAL Microfinance Bank.

Following its success, the apex bank unveiled another N50 billion for the same purpose.

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