New Applicants To Get Loan After System Upgrade – NMFB

Did you apply for NMFB loan as one of the new applicants but yet to be funded? If ‘yes’ then you need to read through this post to get the reason behind.

Many of the new Applicants of the Nirsal Microfinance Bank (NMFB) loan has being worried about not receiving their requested funds, especially after accepting the loan.

This drew the attention of the NMFB management, who responded swiftly. Read also: NIRSAL Microfinance Bank (NMFB) Branches to Get CBN Loan (Full List)

According to the update presented by the management of NMFB, the reason behind the delay is that of the current system upgrade that is going on.

Hence, they opted for a system upgrade to ensure that the processing cycle time is being improved. Once this is done, disbursement of funds to thousands of applicants on a weekly basis will not be disrupted.

The management assured all affected applicants that they will be funded as soon as the system upgrade process is completed.

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The approved/accepted values will be credited to the bank account of the applicants just as imputed.

Only applicants whose bank details are correct and operate the Tiers 2 and Tiers 3 account types will be funded. This is prior to the completion of the upgrade.

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Additionally, we would like to inform the general public that the NMFB funds are Loans and not Grants. This means any amount funded by FMFB must surely be returned to the source.

Therefore, anyone intending to apply for the NMFB loan, thinking after the disbursement of the fund he/she will not pay back, such a person is stepping on an unstable ground.

Also Read:  How to Get a Loan from FCMB in 3 Steps

Finally, Nigerians should take it as a point of duty to report any person claiming to be working as an agent of NMFB, and seeking for some processing fee, etc.

Those that always fall victims are the new Applicants, who are mostly desperate to be funded. So let’s save them from falling victim.

You can visit the official page of NMFB for further enquiry by clicking here.

Source: Nyscinfo

Updated: August 14, 2021 — 8:52 pm

The Author


Eliboy Ayikimi is a renowned writer who started drafting/publishing literary piece online, in the year 2016. He is a graduate of Microbiology/Biochemistry, and also a Postgraduate Diploma holder in education (PGDE). Getting people updated with genuine, and reliable information is one of his top priority.


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