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CBN Loans: We do not ask for money before disbursement, NMFB warns applicants

The Nirsal Microfinance Bank has warned applicants of the CBN Intervention Loan Schemes such as AGSMEIS Loan, COVID-19 Targeted Credit Facility or the Nigeria Youth Investment Fund that the bank does not request money from applicants before disbursing Loans to the beneficiaries.

NMFB made this known on Monday while debunking any affiliation with a website https://paystack.com/pay/nmfb-agsmeis which in text messages sent to Applicants of the AGSMEIS Loan requested for the payment of  N3,000 to facilitate disbursement of the loan to the purported beneficiaries.

The text message reads:

"NMFB AGSMEIS - Congratulations! Dear Applicant, your AGSMEIS Loan Application is approved. Click https://paystack.com/pay/nmfb-agsmeis to accept into your Bank Account."


An assessment on the 'Paystack-plugged-in web link' indicated that it utilizes a false claim that N1,450,000 has been approved for a purported victim under the AGSMEIS Loan Scheme, to request for the payment of N3,000 from an unsuspecting victim.

Read Also: NMFB CBN Loan: Bank assures massive Loan disbursement to beneficiaries, moves to counter disbursement hitches

Several reports in the past have revealed schematic intentions by fraudsters to defraud unsuspecting Nigerians through the manipulation of the good intent of the Federal Government Intervention Programmes.

An applicant of one of the CBN Intervention Programmes has confirmed to have been duped N20,000 by individuals who presented themselves as staff of the Nirsal Microfinance Bank.

The Nirsal Microfinance Bank had earlier warned the Applicants stating that it is not in partnership with any individual or organisation in the disbursement of the CBN Intervention Loan to eligible beneficiaries.

The bank encouraged the Applicants to report any suspected intentions through https://nmfb.com.ng/whistleblower or email "whistleblower@nmfb.com.ng" warning that it will never ask any applicant to pay money before receiving any of its Loans.

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