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.

 

 

NAN

Support PREMIUM TIMES' journalism of integrity and credibility

 

Good journalism costs a lot of money. Yet only good journalism can ensure the possibility of a good society, an accountable democracy, and a transparent government.

For continued free access to the best investigative journalism in the country we ask you to consider making a modest support to this noble endeavour.

By contributing to PREMIUM TIMES, you are helping to sustain a journalism of relevance and ensuring it remains free and available to all.

Donate


NEVER MISS A THING AGAIN! Subscribe to our newsletter

* indicates required

DOWNLOAD THE PREMIUM TIMES MOBILE APP

Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD: New Discovery! Click Here To See A Miracle Device That Can Cure DIABETES, BLOOD PRESSURE, STROKE, ARTHRITIS, PAINS, OBESITY And 50 Other CHRONIC DISEASES Without Drugs Or Herbs.. Click Here Now To See It


All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.