• Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
Saturday, May 31, 2025
  • Login
No Result
View All Result
NEWSLETTER
Elanza News
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Education
  • Health
  • Opinion
  • Sports
  • About
  • Advertise
  • Privacy Policy
No Result
View All Result
Elanza News
Home Business

Nigerians Decry NIRSAL Bank’s COVID-19 Grant Deductions

Ojimaojo Abubakar by Ojimaojo Abubakar
April 17, 2025
in Business
0

President Bola Tinubu

0
SHARES
11
VIEWS
FacebookTwitterWhatsappEmailTelegram

Nigerians are voicing outrage over unexpected deductions from their bank accounts by NIRSAL Microfinance Bank, which they claim were linked to COVID-19 grants disbursed during the administration of former President Muhammadu Buhari.

Beneficiaries, particularly in Kwara State, allege they were misled into providing their Bank Verification Numbers (BVN) and account details under the impression they were receiving grants, not loans.

RelatedPosts

Nigeria Commits to Fresh $500 million NTF Contribution to AfDB

itel Clinches Triple Victory At Africa’s Beacon Of ICT Awards

LG Electronics Sets the Mood with Tech That Cools and Colours That Pop

The controversy has sparked accusations of mismanagement and calls for intervention from President Bola Ahmed Tinubu, as well as oversight bodies like the National Human Rights Commission and the Consumer Protection Council.

According to the Global Information Team, a monitoring group, many beneficiaries were unaware that the funds were loans requiring repayment.

Anabel Crown, the group’s head of investigation, described NIRSAL’s deduction practices as “unacceptable,” arguing that the bank should hold accountable politicians who facilitated the disbursements rather than penalizing recipients.

In Kwara State, some beneficiaries claim aides of former Senate President Bukola Saraki collected their BVN and account details, presenting the funds as grants to support indigenes during the pandemic.

At NIRSAL’s Area 10 Post Office branch in Abuja, frustrated beneficiaries gathered to protest, but their complaints have reportedly gone unaddressed.

“I was told it was a grant to help us survive COVID-19,” said Aisha Muhammed, a trader from Kwara. “Now they’re taking money from my account without warning. How is this fair?”

ALSO READ:  CBN likely to raise interest rates again – Uwaleke

The Central Bank of Nigeria (CBN), which oversees NIRSAL, is said to have authorized the recovery of the funds without considering how they were disbursed.

He argue this approach disregards the circumstances under which beneficiaries received the money, many of whom were not informed of repayment obligations.

The deductions have fueled speculation of political motives, with some suggesting the controversy could tarnish President Tinubu’s image ahead of the 2027 elections.

“This is a ploy to undermine the president’s reputation,” claimed Adebayo Olanrewaju, a civil society activist.

“The government must step in to protect citizens.”

The National Human Rights Commission and the Consumer Protection Council have been called upon to investigate NIRSAL’s practices, particularly the lack of prior notice before deductions.

“Withdrawing money without consent violates people’s rights,” said Funmi Adeyemi, a legal advocate.

“This must be addressed urgently.”

Ojimaojo Abubakar

Ojimaojo Abubakar

Abubakar Ojimaojo is a graduate of Mass Communication, political and football analyst currently work at elanzanews.ng as Editor. He pride himself as skilled wordsmith with a passion for delving into contemporary political issues on both national and international scale.

Related Posts

Nigeria Commits to Fresh $500 million NTF Contribution to AfDB

Nigeria Commits to Fresh $500 million NTF Contribution to AfDB

by Nathaniel Irobi
May 30, 2025
0

Nigeria has reaffirmed its commitment to Africa’s economic development with a fresh $500 million contribution to the Nigeria Trust Fund....

itel Clinches Triple Victory At Africa’s Beacon Of ICT Awards

itel Clinches Triple Victory At Africa’s Beacon Of ICT Awards

by Ojimaojo Abubakar
May 29, 2025
0

Smart technology brand itel has emerged a dominant force at the Africa’s Beacon of ICT Merit and Leadership Awards, securing...

LG Electronics Sets the Mood with Tech That Cools and Colours That Pop

LG Electronics Sets the Mood with Tech That Cools and Colours That Pop

by Ojimaojo Abubakar
May 28, 2025
0

As the nation witness a year buzzing with innovation and rising aspirations, LG Electronics is turning up the cool—redefining home...

Recommended

APC Support Groups Slam  Gov’s’ Forum For Backing Tinubu Without Consultation

APC Support Groups Slam Gov’s’ Forum For Backing Tinubu Without Consultation

2 days ago
How Suicide Bomber Attempted To Sneak Into Army Barracks In Abuja — NEMA

How Suicide Bomber Attempted To Sneak Into Army Barracks In Abuja — NEMA

3 days ago

Popular News

  • Arewa group hails Tinubu’s inclusive appointments

    NURTW President Hails Tinubu’s Reforms, Urges Greater Support For Transport Sector

    0 shares
    Share 0 Tweet 0
  • Environment Minister’s Scholarship Beneficiary Tops 2025 UTME In Northern Nigeria With 345 Score

    0 shares
    Share 0 Tweet 0
  • Abuja Estate Firm Announces Customer Loyalty Rewards

    0 shares
    Share 0 Tweet 0
  • Christian Group Seeks Reversal of NBAIS Certificate Recognition

    0 shares
    Share 0 Tweet 0
  • Association Hails Works Minister, Urges Re-award Of Abandoned Road Projects

    0 shares
    Share 0 Tweet 0

Connect with us

Facebook Instagram Twitter Youtube
Elanza logo

Elanza News is your NO 1 online platform for all news update.
#SayNoToFakeNews
Contact Us

Category

  • Arts & Literature (25)
  • Business (716)
  • Education (213)
  • Entertainment (306)
  • Health (187)
  • National (2,059)
  • News (7,724)
  • Opinion (283)
  • Politics (1,563)
  • Science (15)
  • Security (403)
  • Sports (414)

Newsletter

© 2023 Elanza News - The No 1 online news platform

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Politics
  • Business
  • Science
  • National
  • Entertainment
  • Sports
  • Health

© 2023 Elanza News - The No 1 online news platform