Chief Jethro Akun, the Vice President of the National Association of Microfinance Banks (NAMB) in Nigeria, has announced plans to partner with the National University Commission (NUC), a parastatal under the Federal Ministry of Education established in 1962, to facilitate the offering of courses in microfinance banking at the university level. According to Mr. Akun, the partnership is necessary as the microfinance sector needs more “manpower” to achieve growth in the sector. He also believes that courses in microfinance banking will help to allay many of the fears of the general public over the viability of microfinance banks [1].
There are currently 17 microfinance institutions reporting Nigerian operations to the Microfinance Information Exchange (MIX) Market. These institutions report USD 104 million in total assets, an aggregate gross loan portfolio of USD 68 million, approximately 349,000 active borrowers and 576,000 depositors with a total of USD 38 million in deposits [2].
By Conner Brannen, Research Assistant
About the National Association of Microfinance Banks of Nigeria (NAMB):
The National Association of Microfinance Banks of Nigeria (NAMB), a trade group of microfinance institutions, was recently reformed by merging with the Association of Microfinance Banks in Nigeria (AMBN), under the supervision of the Central Bank of Nigeria (CBN).
Sources and Additional Resources:
[1] The Punch: “Microfinance Banks to Partner NUC on Capacity Building,” May 11, 2010: http://www.punchng.com/Articl.aspx?theartic=Art201005110493662
[2] MIX Market: Microfinance in Nigeria: http://www.mixmarket.org/mfi/country/Nigeria
[3] MicroCapital Universe profile: National Assiciation of Microfinance Banks of Nigeria (NAMB): https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=National+Association+of+Microfinance+Banks+of+Nigeria+%28NAMB%29
[4] MICROCAPITAL BRIEF: Nigerian National Association of Microfinance Banks (NAMB) Elects New Leaders, April 27, 2010: https://www.microcapital.org/microcapital-brief-nigerian-national-association-of-microfinance-banks-namb-elects-new-leaders/
Browse the MicroCapital Universe and add your entry to the wiki https://www.microcapital.org/microfinanceuniverse/
Similar Posts:
- MICROCAPITAL BRIEF: Moniepoint Microfinance Bank Launches Mobile Banking App, Debit Card in Nigeria
- MICROCAPITAL BRIEF: Baobab+, TradeLenda Partner on Solar Energy Solutions for SMEs in Nigeria
- MICROCAPITAL BRIEF: Purpl Launches Remittances, Digital Wallets in Lebanon; Partners with Banque Libano-Française, Paysend
- MICROFINANCE PAPER WRAP-UP: “Financial Inclusion in Niger: Challenges and Opportunities,” by Yoro Diallo et al, Published by IMF
- MICROFINANCE EVENT: Africa Impact Summit; July 13-14, 2023; Cape Town, South Africa
