NIRSAL Microfinance Bank (NMFB) has formally debunked media reports suggesting it disbursed ₦215 billion under the Central Bank of Nigeria (CBN)-backed Anchor Borrowers Programme (ABP), clarifying that the actual amount released by the bank under the scheme is ₦51 billion.
In a public statement issued to address what it described as “misleading reports,” the bank noted that the discrepancy in reported figures could misinform stakeholders and distort public perception of its financial intervention activities.
“For the avoidance of doubt, our verified Anchor Borrowers Programme (ABP) intervention loan disbursements stand at ₦51 billion, not ₦215 billion,” the statement emphasized. “We urge the public and press to disregard the inaccurate reports.”
NMFB stressed that the ₦51 billion figure is consistent with records it has previously shared in public forums and represents the total amount the bank has disbursed under the ABP.
The bank also called on media professionals to uphold journalistic standards by verifying sensitive financial information before publication. It warned that the circulation of incorrect data could erode public trust in government intervention programmes and mislead potential beneficiaries.
In addition to correcting the figures, NMFB addressed recurring confusion between NIRSAL Microfinance Bank and NIRSAL Plc., reminding the public and media that the two entities are separate and operate independently. The mix-up, the bank noted, has contributed to misinformation in the public domain.
“Media professionals must exercise due diligence to avoid misleading the public,” the bank added, urging reporters and editors to crosscheck facts directly with the institution to ensure accuracy.
The clarification, according to NMFB, is part of its broader commitment to transparency and accountability in managing intervention funds aimed at supporting Nigeria’s agricultural value chain and economic development.
The Anchor Borrowers Programme was initiated by the Central Bank of Nigeria to provide loans to smallholder farmers through participating financial institutions, with the aim of boosting agricultural productivity and food security across the country.
