CBN collates database of micro-finance banks

Central Bank of Nigeria

The CBN governor wants more women to take advantage of credit facilities in micro-finance banks.

The Governor of the Central Bank of Nigeria, CBN, Lamido Sanusi, says the bank will soon inaugurate a database of all microfinance banks in the country.

Mr. Sanusi disclosed this at the stakeholders’ meeting of Non-Bank Micro Finance Institutions of Nigeria (ANMFIN) in Lagos on Monday.

The CBN governor, who was represented by Udoo Fateh, an official of the Department of Development Finance of the bank said that the apex bank is committed to the growth of micro finance banks.

While presenting a paper on “The Importance of the Apex Bank to Micro-finance Development in Nigeria”, Mr. Sanusi said that women would be given priority in every micro-finance scheme.

“When you empower women, you empower a whole family and that is what microfinance banks should be about,” he said.

Mr. Sanusi said that women do not “package” themselves properly to access loans and are quick in giving up in their quest for loans at the slightest setback.

He urged ANMFIN to re-position itself by reaching out to more persons at the grassroots and also encouraging more people to join.

“The association can step forward and stand as guarantor for any of its members that want to take a loan,” he said.

The National President of ANMFIN, Giwa Afolabi, said that the association is re-organising its executive council in the South-West zone for improved service delivery to its members.

Mr. Afolabi, who is also a member of the Kwara State House of Assembly, said that there is the need to re-position the association to make it relevant to government’s “economic engineering”.

He urged all members to be financially committed to the association so that they can access credit facilities from the CBN.




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