NEWS WIRE: Nigeria: Directors of Microfinance Banks Seek Recognition on Loans Management

Source: Business Day.

Original news wire available here.

Nigeria, September 29 – Managing Directors (MDs) of Micro Finance Banks operating in Ekiti State have asked the state governor, Segun Oni, to allow Micro Finance Banks handle micro credit loans in the state.

The managing directors, under the aegis of Committee of Micro Finance Bank of Nigeria, also wanted other micro credit agencies like NAPEP, NDE to include their banks in the management and disbursement of micro credit loans.

Chairman of the Committee of Micro Finance Banks in the state, Ariyo Popoola, said this in Ado-Ekiti during a meeting of managing directors of the banks.

He noted that micro Finance Banks as institutions that deal mainly in micro credit facilities are well equipped and positioned to effectively handle micro credit loans on behalf of the government. Akinlolu Dada, who is the MD of TransWealth Micro Finance Bank, on his part, called for caution before going into alliance with any Commercial bank particularly in the area of ATM.

He then charged his colleagues to find a way to design their own data bank to enable all customers have access to their account through ATM and also look for ways by which they can work together or cooperate in clearing their cheques.

Ariyo noted that micro finance banks in the state were prepared to partner with the state government to achieve its aims of poverty alleviation among the people, particularly the rural dwellers.

He stressed that micro credit agencies like NAPEP and NDE should create appropriate channels to disburse their loan, saying that micro finance banks are in a better position to disburse the loans to beneficiaries.

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