MICROCAPITAL BRIEF: National Association of Microfinance Banks (NAMB) to Embark on “Enlightenment Campaign” to Increase Knowledge of Microfinance in Nigeria

The National Association of Microfinance Banks (NAMB), an association of microfinance institutions (MFIs) in Nigeria, recently announced in Lagos, Nigeria, that it intends to embark on a campaign to increase knowledge of microfinance among potential clients in Nigeria.

According to Mr Mathias Umeh, an official of NAMB and Managing Director of Nwangu Microfinance Bank, many Nigerians do not understand the actual role and functions of microfinance banks and have confused microfinance banks with commercial banks in terms of operations and services. Mr Umeh stressed that the association intended to collaborate with the Central Bank of Nigeria (CBN) to improve knowledge of microfinance in Nigeria.

By Jay Kumar, Research Assistant

About National Association of Microfinance Banks (NAMB):
The National Association of Microfinance Banks of Nigeria (NAMB), an association of various microfinance institutions (MFIs), was recently reformed by merging with the Association of Microfinance Banks in Nigeria (AMBN), under the supervision of the Central Bank of Nigeria (CBN).

Additional Sources:
1. Source Article: Daily Trust: “Group launches enlightenment campaign for MFBs,” http://news.dailytrust.com/index.php?option=com_content&view=article&id=
2. MicroCapital Universe: National Association of Microfinance Banks of Nigeria:
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=National+Association+of+Microfinance+Banks+of+Nigeria+(NAMB)

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