The NIRSAL Microfinance Bank has made the loan repayment policies public in response to its declaration from last week calling for the reimbursement of loans taken out by Nigerians.
Even though some Nigerians think the repayment announcement arrived earlier than expected, the financial institution is steadfast in its commitment to the return strategy and is contacting the recipients via its social media accounts.
NIRSAL announced the repayment policy on its Instagram page.
The declaration states that in order to obtain a repayment form and receive further instructions, recipients must contact any NIRSAL MFB outlets.
How to repay a loan
- To get a form for a payback loan, go to any nearby NIRSAL MOB branch.
- Make sure your loan account is always funded Make sure your cell number has already been received as the account number.
- Visit www.covid19.nmfb.com to view your offer letter.
- How some beneficiaries responded when asked to repay the loan
Twitter users’ diverse reactions to NIRSAL’s message asking loan repayment suggest that the financial institution may have trouble collecting on the majority of the loans.
Abdulrasheed Ibrahim, who goes by the Twitter handle @Abdulra19898072, made some assertions that are difficult to verify, but his reply received the most attention. “@cenbank,” he uttered. I don’t believe that many people had the financial means to repay the loan because some of your staff members instead collected money from individuals and distributed it at random to those who planned to purchase iPhones rather than those who wanted to start businesses.
Taking a more pragmatic stance, Daniel Duke of @DanielDuke TOT tweeted, “Don’t worry, they are expecting reimbursements from the Grants that will be disbursed shortly. It’s a means to remove extra money that will be injected into the economy via Grant payments. The CBN’s plan to lower inflation
Some others bemoaned the fact that they still felt ill from the outbreak. @OkerekeStanley3 is the handle of Stanleyoke. “Covid-19 variance is still with Us, and the economy is getting worse daily. You are discussing payments while there is no progress. Could you please verify the food costs at the market?
However, several Twitter users adopted amusing stances regarding loan repayment. I need another loan to pay off the first debt, a user with the username @alkanetonline remarked. He was joined by another user who bemoaned her lack of knowledge regarding how she will come up with the funds to pay back the loan.