Abdulwahab Isa Abuja NIRSAL Microfinance Bank (NMFB) has described allegations purporting diversification of N5 million Agri-Business Small and Medium Enterprises Investment Scheme (AGSMEIS) loan as unfounded.
In a statement issued in Abuja by its Head of Corporate Communications, Halima Idris Omar, the bank described the incident in question as a rare case of swap of phone numbers with similar names in 2019, when full automation had not been deployed.
She said: “The phone numbers of two applicants bearing the same name (Rebecca Daniel and Rebecca Zamari Daniel) exchanged places during the disbursement process.
“Incidentally, both had AGSMEIS loan approvals for different sums. Upon disbursement, the loan of N500,000.00 was approved in favor of the rightful person using her Bank Verification Number (BVN), but with a wrong phone number.”
Omar, however, posited that the loan had since been utilised by the said beneficiary in early 2020, while repayment had also commenced after moratorium.
“This explains why Rebecca Zamari Daniel was receiving text messages for the repayment of a N500,000 loan. “Presently, the information mismatch has been sorted and the N5 million loan for Rebecca Zamari Daniel booked,“ she added.
The statement noted that the AGSMEIS application process had now been improved by leveraging on technology to bring about efficiency following fullyautomated process from start to finish.
The statement further said the applicants are now able to carry out a BVN validation exercise, conduct a credit bureau check and provide guarantors online, whereas online questionnaire replaces physical or telephone interview.
Essentially, the AGSMEIS loan is one of the initiatives of the Federal Government through the Central Bank of Nigeria (CBN), which aims to support SMEs and agri-businesses.
