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Senator seeks more funding for NIRSAL MFB

  The Senator representing Ondo Central Senatorial District, Senator Ayo Akinyelure has called for more funding from the Central Bank for NIRSAL microfinance bank.

Senator Akinyelure made the call in Abuja when the NIRSAL MFB was at the Senate to brief it on its operations.

He said the extra funding would enable the bank disburse more loans to individuals and Small and medium scale businesses since most of the loans it gave during the height of COVID-19 had become difficult to recover.

The Senator also said the loans given to individuals during the pandemic should be written off, citing examples of the United States where the Government intervened in households by supporting them with some cash.

He thanked the management of NIRSAL Microfinance Bank for a job well done, especially with its spread across the country and the ability of small business owners to access quick and affordable loans without stringent conditions.

Writing by Biodun Dare, editing by Daniel Adejo