small enterprises affected by the pandemic
through the Integrated National Association
of Microfinance Banks Unified IT Platform
(NAMBUIT) deployed by Inlaks for NIRSAL
Microfinance Bank.
The NIRSAL National MFB is an initiative of the CBN, in collaboration with other
stakeholders like the Bankers’ Committee,
Nigeria Incentive-Based Risk Sharing System
for Agricultural Lending (NIRSAL), and the
Nigerian Postal Service (NIPOST). The purpose of the bank is to complement the efforts
of the CBN towards addressing the needs of
Nigerians at the bottom of the pyramid and
deepen financial inclusion.
NAMBUIT is a unified information
technology vehicle built by Inlaks to service
MFBs on behalf of the CBN and NAMBs. It
aims to enhance financial access, inclusion
and sustainability of the microfinance institutions on value chain financing and ensure
the growth of the small and medium scale
enterprises. The NAMBUIT is enriched with
a sophisticated Loan module for the management of the total life cycle of the over 80,000
loans that will be disbursed for the scheme.
The NAMBUIT platform runs on
TemenosT24 Inclusive Banking Suite (IBS),
and implementation is being managed by
Inlaks, a system integrator in Sub-Saharan
Africa, in line with global best practices,
with support from the CBN.
According to Mr. Femi Adeoti, Inlaks’
managing director/CEO, African operations,
54 branches of NIRSAL MFB are currently
connected on the platform.
“NAMBUIT is software as a service
(SaaS) platform that reduces operational
costs as well as improves the bank’s ability
to provide necessary information to agencies
such as CBN and NDIC. The unified platform comprises a core banking system and
sub-systems for agent banking, non-interest
banking, and mobile payment among other
services.
“A core benefit of the NAMBUIT platform is the smooth on-boarding of the microfinance banks into the national payment
system lowering the operating costs of MFBs
significantly. This has been significant, especially in the context of developing economies, where many low-income households
and micro-enterprises do not have ready
access to financial services.”
The CBN’s N50bn targeted credit facility
is meant to support households and MSMEs
affected by the COVID-19 pandemic. The intervention is financed from the Micro, Small
and Medium Enterprises Development
Fund. The amount is determined based on
the activity, cash flow and industry size of
the beneficiary, subject to a maximum of
N25m for SMEs. Households with verifiable
evidence of livelihood adversely impacted by
COVID-19 can access the loan to a maximum of N3m
through the Integrated National Association
of Microfinance Banks Unified IT Platform
(NAMBUIT) deployed by Inlaks for NIRSAL
Microfinance Bank.
The NIRSAL National MFB is an initiative of the CBN, in collaboration with other
stakeholders like the Bankers’ Committee,
Nigeria Incentive-Based Risk Sharing System
for Agricultural Lending (NIRSAL), and the
Nigerian Postal Service (NIPOST). The purpose of the bank is to complement the efforts
of the CBN towards addressing the needs of
Nigerians at the bottom of the pyramid and
deepen financial inclusion.
NAMBUIT is a unified information
technology vehicle built by Inlaks to service
MFBs on behalf of the CBN and NAMBs. It
aims to enhance financial access, inclusion
and sustainability of the microfinance institutions on value chain financing and ensure
the growth of the small and medium scale
enterprises. The NAMBUIT is enriched with
a sophisticated Loan module for the management of the total life cycle of the over 80,000
loans that will be disbursed for the scheme.
The NAMBUIT platform runs on
TemenosT24 Inclusive Banking Suite (IBS),
and implementation is being managed by
Inlaks, a system integrator in Sub-Saharan
Africa, in line with global best practices,
with support from the CBN.
According to Mr. Femi Adeoti, Inlaks’
managing director/CEO, African operations,
54 branches of NIRSAL MFB are currently
connected on the platform.
“NAMBUIT is software as a service
(SaaS) platform that reduces operational
costs as well as improves the bank’s ability
to provide necessary information to agencies
such as CBN and NDIC. The unified platform comprises a core banking system and
sub-systems for agent banking, non-interest
banking, and mobile payment among other
services.
“A core benefit of the NAMBUIT platform is the smooth on-boarding of the microfinance banks into the national payment
system lowering the operating costs of MFBs
significantly. This has been significant, especially in the context of developing economies, where many low-income households
and micro-enterprises do not have ready
access to financial services.”
The CBN’s N50bn targeted credit facility
is meant to support households and MSMEs
affected by the COVID-19 pandemic. The intervention is financed from the Micro, Small
and Medium Enterprises Development
Fund. The amount is determined based on
the activity, cash flow and industry size of
the beneficiary, subject to a maximum of
N25m for SMEs. Households with verifiable
evidence of livelihood adversely impacted by
COVID-19 can access the loan to a maximum of N3m
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