The Central Bank of Nigeria is disbursing the N50bn COVID-19 credit facility to households and Micro, Small and Medium Enterprises affected by the pandemic through the Integrated National Association
of Microfinance Banks Unified IT Platform deployed by Inlaks for NIRSAL microfinance bank.
It said that the purpose of the bank was to complement the efforts of the CBN towards addressing the needs of Nigerians at the bottom of the pyramid and deepen financial inclusion. It said the platform aimed to enhance financial access, inclusion and sustainability of the microfinance institutions on value chain financing and ensure the growth of the Small and Medium Enterprises.
“NAMBUIT is software as a service platform that reduces operational costs as well as improves the bank’s ability to provide necessary information to agencies such as the CBN and the NDIC. The unified platform comprises a core banking system and sub-systems for agent banking, non-interest banking, and mobile payment among other services.
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