NIRSAL MFB Bags Interswitch Award For Outstanding Performance


BY EDMOND ODOK – NIRSAL Microfinance Bank (NMFB) has bagged the Interswitch recognition for its outstanding performance and consistent contribution to growing Nigeria’s financial industry and the economy for the year 2022.

NMFB smiled home with the honours at the second edition of the Interswitch North Central Region Award Ceremony tagged; “Accelerating Growth and Profitability – Leveraging Technology.”

Interswitch is an Africa-focused integrated digital payments and commerce company that facilitates the electronic circulation of money as well as the exchange of value between individuals and organizations on a timely and consistent basis.

Last year, the Bank emerged as the best MICROFINANCE BANK in Nigeria using FINTECH (the integration of technology into offerings by financial services companies in order to improve their use and delivery to consumers).

Speaking on the award, Managing Director of NIRSAL MFB, Dr Abubakar Abdullah Kure, described it as the fruit of the bank’s commitment to effective financial service delivery to its customers and the banking public.

He expressed thanks to all the stakeholders, assuring that NMFB will do more in the coming years based on its customer-service-oriented policy thrust

According to Dr Kure, the bank would not slack in fostering robust relationships with customers given that it “remains your true SME partner” nationwide.

Licensed by the Central Bank of Nigeria (CBN) to carry out specialized banking services, NMFB was incorporated as a Private Limited Company in 2019 and immediately commenced operations after the apex bank granted it a National Microfinance Bank licence in the same year.

Added to the inherent responsibilities of the national licence, NIRSAL, which means Nigeria Incentive-Based Risk Sharing System for Agricultural Lending, is primarily an Intervention Bank; serving as a viable channel for the on-lending of special funds from the CBN to qualified citizens and businesses.

Owned 75 percent by the Bankers Committee, NIRSAL has 15 percent equity with the Nigerian Postal Service (NIPOST) having the remaining 10 percent investment.

The Bank, with its headquarters in Abuja, Nigeria’s Federal Capital Territory (FCT), currently has a network of 115 branches in all 36 states of the Federation.

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