Monday, April 27, 2020


Microfinance Bank (NMFB) has warned Nigerians to stay clear from advertisements that claimed state governments or organisations partner Central Bank of Nigeria (CBN) and NMFB on the N50 billion COVID-19 Targeted Credit Facility (TCF). This was disclosed in a statement issued by the financial institution via its Twitter handle.

The financial institution stated that it is not aware of any partnership with any state governments or various organisations/Associations on the CBN’s N50 billion facility and it would not be responsible for any losses incurred by Nigerians that failed to heed to the warning.

It stated, “The attention of the management of NMFB has been drawn to various advertisements in the name of state governments or various organisations/associations partnering with the Central Bank of Nigeria (CBN) 

“While such advertisements carry the name and logo of the bank, the management of NMFB wish to categorically state that the bank is not in partnership with any state government/organization/association on the said TCF and are not aware of such partnerships.”

NIRSAL Microfinance Bank (NMFB) explained that applicants under the CBN COVID-19 TCF are required to go through the application process directly via the bank’s online portal and are not required by the bank to fill out any other forms or provide information to any other party outside what is stipulated on the NMFB website.

“NMFB will not be responsible for any losses as a result of failure to heed this warning.”

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