Who is the Owner of NIRSAL Microfinance Bank?

If you’re looking for the owner of NIRSAL Mfb, then you’re at the right place.

This page will give you detailed information about the CEO of NIRSAL Microfinance Bank and other related topics.

We endeavor you to read this guide carefully till the end to get what you’re looking for.

Before we talk about the owner of NIRSAL Mfb, let’s go straight to what NIRSAL Microfinance Bank is all about. Read details below.

About NIRSAL Microfinance Bank

NIRSAL which it’s accroymn stands for Nigeria Incentive-Based Risk Sharing system for Agricultural Lending, is an initiative by the Central Bank of Nigeria (CBN).

It is also licensed by CBN to alleviate poverty in the country.

NIRSAL is a federal government agency for developing and addressing the risks in the agricultural sector.

Like we’ve stated in our previous article about NIRSAL here => NIRSAL Microfinance Bank- Everything you Need Know  , we learnt that the sole aim of NIRSAL Mfb is to develop and fuel the SME sector.

They don’t primarily give out loans on their own, rather they link up SME owners to those who will borrow for them, be it the private or government sector.

They act as ‘middlemen’ between the lenders and the SME owners.

Types of NIRSAL MFB Loans

There are three different types of loans from NIRSAL Microfinance Bank, which will be buttressed in this article below.

AGSMEIS Loan

Anchor Borrowers Program(ABP) Loan

NIRSAL Microfinance Bank Access Target Account

AGSMEIS Loan:

AGSMEIS is an acronym which stands for Agri-Business/Small and Medium Enterprise Investment Scheme.

This type of loan allows you to access up to 10 million at the rate of 9% per annum. This loan doesn’t require a collateral and is accessible to all the following sectors such as;

• Fashion,
• Apparel & Textile,
• Art & Entertainment,
• Agriculture/ Automobiles,
• Telecommunication,
• Media & Publishing,
• Catering & Event Management.

Anchor Borrowers Program(ABP) Loan:

This is another loan program you should try considering. This program was intended to create a linkage between anchor companies involved in the processing and small holder farmers(SHFs) of the required key agricultural commodities.

To buttress my point, it’s just simply means they create a link more like a relationship between the Small Scale farmers or Processing company and the lenders to help boost the small scale business.

NIRSAL Microfinance Bank Access Target Account:

Also known as NAT is a savings account meant for MSMEs and Individuals who wish to save regularly for a certain period to accomplish a purpose i.e shop rent, buy goods, purchase equipment, for festivities etc.

The account would be put on restrictions to withdraw based on the account holder instructions to curb excessive spending.

The account has an opening balance of ₦1,000 and minimum balance of ₦500.

Is NIRSAL a government agency?

Yes. To clear your doubt, NIRSAL is an initiative of the Central Bank of Nigeria (CBN), the Bankers Committee (BC) and the Federal Ministry of Agriculture & Rural Development (FMA&RD).

Who is the Owner of NIRSAL Microfinance Bank?

The Central Bank of Nigeria (CBN) wholly owns NIRSAL Microfinance Bank. Remember, it was initiated and established by CBN, by law the rightful owner is the CENTRAL BANK OF NIGERIA.

Now the question you should ask is who is the Head of NIRSAL.

The Head of NIRSAL Mfb is Aliyu Abdulhameed. He is the pioneer Managing Director/Chief Executive Officer of the NIRSAL.

He is also a multi-talented Agricultural Economist with varied experience in Institutional Development, Programme Management, and Process Development and Improvement.

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