MICROCAPITAL BRIEF: Nigerian Government Promotes 19 Microfinance Banks to Increase Financial Inclusion

The Nigerian government reportedly has financed the establishment of 19 microfinance banks and offered assistance in actualizing them in an effort to provide credit facilities to poor households in the country [1]. The Commissioner for Investment, Commerce and Cooperatives Alhaji Hassan Abdullahi announced the promotion of the banks and stated that the government reportedly is considering the establishment of six other microfinance banks in 2013. The banks will be located in the headquarters of 19 Nigerian state governments. Further information is not yet available.

By Meghan Gillis, Research Associate

Sources and Additional Resources

[1] The Nigerian Observer, “Niger Government Promotes 19 Microfinance Banks,” http://nigerianobservernews.com/05062013/businessservices/businessnews2.html

MicroCapital brief, July 21, 2013, “MICROCAPITAL BRIEF: MasterCard, Nigeria National Identity Management Commission (NIMC) to Produce 13 Million ‘National Identity Smart Cards’,” https://www.microcapital.org/microcapital-brief-mastercard-nigeria-national-identity-management-commission-nimc-to-produce-13-million-national-identity-smart-cards/

MicroCapital brief, June 12, 2013, “MICROCAPITAL BRIEF: MasterCard Introduces ‘SME Online’ Internet Payment Solution in Nigeria,” https://www.microcapital.org/microcapital-brief-mastercard-introduces-sme-online-internet-payment-solution-in-nigeria/

MicroCapital brief, April 23, 2013, “MICROCAPITAL BRIEF: Nigeria’s Mutual Benefit Assurance Plc. Establishes Microfinance Bank in Effort to Drive Microinsurance,” https://www.microcapital.org/microcapital-brief-nigerias-mutual-benefit-assurance-plc-establishes-microfinance-bank-in-effort-to-drive-microinsurance/

MicroCapital brief, April 15, 2013, “MICROCAPITAL BRIEF: Nigeria Deposit Insurance Corporation to Bailout Microfinance Institutions, Primary Mortgage Banks,” https://www.microcapital.org/microcapital-brief-nigeria-deposit-insurance-corporation-to-bailout-microfinance-institutions-primary-mortgage-banks/

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