The Role of Microfinance Banks in the Economic Development of a Nation
Date
2013
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Nigeria Deposit Insurance Corporation (NDIC)
Abstract
Introduction; The role of microfinance banks in national economic development; Microfinance banking in North-East Zone; The ole of NDIC in re-positioning MFB; Regulatory intervention; Lessons learnt
Description
This is a brief description of the role of microfinance banks in the economic development of a nation. It emphasizes the fact that sustainable economic development in any nation cannot be achieved without rural transformation and the empowerment of rural dwellers. This therefore brings to the fore the urgent need to reposition microfinance banks to optimally play their roles in economic development of our nation. Finally, it affirms that microfinance banks must be at the heart of poverty alleviation programmes and developmental efforts in Nigeria as well as highlighting the contributions of the Central Bank of Nigeria and Nigeria Deposit Insurance Corporation towards achieving these objectives.