NMFB: 75% owned by Bankers Committee, 15% NIRSAL, 10% NIPOST. 115 branches. AGSMEIS up to NGN 10M at 9%. Amazon Loan NGN 50K-1M for women, no collateral. Non-Interest TCF up to NGN 2.5M.
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Description
NIRSAL Microfinance Bank (NMFB) is Nigerias national microfinance institution owned by the Bankers Committee (75%), NIRSAL (15%), and NIPOST (10%). NMFB operates 115 branches across 36 states administering CBN intervention loans and internal lending facilities. Key products include AGSMEIS up to NGN 10 million at 9% interest (5-year tenor, 18-month moratorium), Amazon Loan NGN 50,000 to NGN 1 million for women entrepreneurs with no collateral required, OBSL salary advance and petty cash loans, and Non-Interest Targeted Credit Facility up to NGN 2.5 million for SMEs and NGN 1 million for households. AGSMEIS is Nigerias cheapest formal business loan with no other commercial lender matching the 9% interest rate.
