The bankers’ committee on Tuesday raised the paid up capital of Nigeria Incentive-Based Risk Sharing system for Agricultural Lending (NIRSAL) Microfinance Bark Limited from N5bn to N7.5bn.
The new paid up-capital will enable the bank to promote expansion of branches across the country.
The branches will be used as a tool for financial inclusion and economic development,” Abubakar Abdulahi Kure, acting managing director NIRSAL MFB, said after the 348th meeting of the bankers’ committee in Lagos on Tuesday.
Already the NIRSAL Microfinance Bank has disbursed N18 billion from the Agri-Business/Small and Medium Enterprise Investment Scheme (AGSMEIS) fund to about 5000 applications across the country.
Hope Moses-Ashike
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
