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Posted by admin. on October 9, 2020 0

The Management of Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) Micro Finance Bank (NMFB) has engaged the services of Ibrahim Badamasi Babangida University, Lapai as an Entrepreneurial Development Institution(EDI).
This was contained in a letter addressed to the Vice Chancellor, Professor Abu Kaaim Adamu and signed by the duo of the Executive Direcror-Banking and the Managing Director, Mr. Darlington Lawson and Abubakar Abdullahi Kure.
The terms of engagement include, among others; a one week entrepreneurial training of micro, small and medium (MSMEs) entrepreneurial seeking access to credit via the Agri-Business, Small and Medium Enterprises Investment Scheme(AGSMEIS) portal based standardised curriculum approved by Nigeria Micro Finance Board (NMFB) for all Entrepreneurial Development Institutions (EDIs); upload of application forms of applicants into the AGSMEIS portal; Tutorship on the preparation of business plan; and entrepreneurial training fee of Ten Thousand Naira to be charged for the training which may be reviewed as the need arises with pure written consent of NMFB. The fee exclude the cost of business plan.
Others are; issuance of certificate of completion of programme with a unique certificate code; Maintainance of account relationship with NIRSAL Microfinance Bank and instruct applicants and or participants to make all payments relating to the training into the said account; EDIs must ensure that participants are trained and certified in the various skills they intend to use to apply for the loan; and EDIs must verify all information provided by applicants in their application, which must include proforma invoices and correct open market prices of the equipment or goods they wish to buy.
It stated further that the engagement is such that cannot be trnsfered, assigned and or novated to any third party, without the express consent of the signatories and on behalf NRSAL Microfinance Bank.
The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc.) is a US$500million Non-Bank Financial Institution wholly-owned by the Central Bank of Nigeria (CBN) created to redefine, measure, reprice and share agribusiness-related credit risks in Nigeria.

Source. Ibbul news fb


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