NIRSAL Microfinance Bank
“Can a policy-created intervention-fund conduit become a self-sustaining retail microfinance bank once government stimulus programs wind down?”
Founded2019
HQAbuja, Federal Capital Territory, Nigeria
IndustryBank / National
The story
NIRSAL MFB was created in 2019 as a policy vehicle — the CBN-sanctioned conduit for Nigeria's largest agri and SME intervention programs (AGSMEIS, TCF, Anchor Borrowers'). It has since layered an on-balance-sheet lending product (OBSL) funded from depositor funds on top of the intervention rails, turning itself into a hybrid policy bank + retail microfinance bank with 101 branches across all 36 states.
Last 12 months
—
Product timeline
2019
Licensed by the Central Bank of Nigeria as a national microfinance bank; ownership split 75% Bankers' Committee, 15% NIRSAL, 10% NIPOST.· banking
2020
Designated disbursement bank for CBN's COVID-19 Targeted Credit Facility (TCF) and AGSMEIS intervention loans.· lending
Regulated entities
1
regulatory licence held by NIRSAL Microfinance Bank
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
2 layers disclosed in NIRSAL Microfinance Bank’s embedded-finance stack
Banking / BaaS
NIRSAL Microfinance Bank (in-house)
Lending
in the full report
Accounting gap: significant
9 more providers across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.