NMFB denies false ABP loan report, urges accurate journalism

Barbara Bako, Abuja.

NIRSAL Microfinance Bank (NMFB) has refuted inaccurate media claims alleging the disbursement of ₦215 billion under the Anchor Borrowers’ Programme (ABP).

According to the bank, the actual amount disbursed stands at ₦51 billion, a figure that has been consistently communicated in public forums and aligns with the bank’s official records.

The inaccurate reports, NMFB noted, risk misleading stakeholders and distorting public understanding of the bank’s role in the ABP.

“To set the record straight, our total verified disbursement under the ABP is ₦51 billion, not ₦215 billion as wrongly reported,” the bank clarified. “We urge the media and the public to disregard these incorrect figures.”

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NMFB highlighted the critical need for accuracy in financial journalism and encouraged reporters to cross-check information directly with the bank before publishing.

The statement also sought to clear up persistent confusion between NMFB and NIRSAL Plc., noting that the two are entirely separate entities with distinct mandates. “It is essential for media practitioners to verify facts carefully to prevent public misinformation,” the bank said.

This clarification reaffirms NMFB’s commitment to transparency and reinforces its role in the effective management of Nigeria’s financial support initiatives.