Download or read book Nigeria s Microfinance Bank Sector written by Weltbankgruppe and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The report analyzes the status of the Nigerian Microfinance Banks (MFBs) sector and aims to identify and address the challenges of its effective regulation and supervision. Ensuring the financial soundness of the MFB sector is regarded as a prerequisite for its further development. This report was prepared at the request of Other Financial Institutions Supervision Department (OFISD) of the Central Bank of Nigeria (CBN) to inform OFISD's efforts to develop a strategy for regulation of the MFB sector with emphasis on its consolidation. The report does not attempt to address in depth other systemic issues related to microfinance market development, such as funding constraints or gaps in financial infrastructure. While important these factors are secondary to the report's central focus on reforming and recalibrating the regulatory framework and ensuring effective supervision, which is regarded as necessary precursors to the growth of the sector. Only once these regulatory and supervisory reforms are implemented will the MFB sector be better positioned to start to make a more significant and sustainable contribution to financial inclusion. The findings of the report are complemented with fifteen case-studies based on a representative sample of different MFB business models and origins, drawing lessons regarding the challenges faced by the sector about factors such as their business model, governance, funding, and client base. The Microfinance Policy, Regulatory and Supervisory Framework for Nigeria of 2005 established MFBs as a means of formalizing microfinance institutions (MFIs) in order to promote financial discipline and sustainability, while also providing access to financial services to the unbanked population. The framework was designed to attract new capital as well as to regularize Community Banks (CBs), which had been established since the early 1990s, mainly as conduits for directed lending. Licensed by the CBN, MFBs are allowed to solicit deposits, which are guaranteed by the Nigeria Deposit Insurance Corporation (NDIC).

Download or read book Nigeria s Microfinance Bank Sector written by World Bank Group and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The report analyzes the status of the Nigerian Microfinance Banks (MFBs) sector and aims to identify and address the challenges of its effective regulation and supervision. Ensuring the financial soundness of the MFB sector is regarded as a prerequisite for its further development. This report was prepared at the request of Other Financial Institutions Supervision Department (OFISD) of the Central Bank of Nigeria (CBN) to inform OFISD's efforts to develop a strategy for regulation of the MFB sector with emphasis on its consolidation. The report does not attempt to address in depth other systemic issues related to microfinance market development, such as funding constraints or gaps in financial infrastructure. While important these factors are secondary to the report's central focus on reforming and recalibrating the regulatory framework and ensuring effective supervision, which is regarded as necessary precursors to the growth of the sector. Only once these regulatory and supervisory reforms are implemented will the MFB sector be better positioned to start to make a more significant and sustainable contribution to financial inclusion. The findings of the report are complemented with fifteen case-studies based on a representative sample of different MFB business models and origins, drawing lessons regarding the challenges faced by the sector about factors such as their business model, governance, funding, and client base. The Microfinance Policy, Regulatory and Supervisory Framework for Nigeria of 2005 established MFBs as a means of formalizing microfinance institutions (MFIs) in order to promote financial discipline and sustainability, while also providing access to financial services to the unbanked population. The framework was designed to attract new capital as well as to regularize Community Banks (CBs), which had been established since the early 1990s, mainly as conduits for directed lending. Licensed by the CBN, MFBs are allowed to solicit deposits, which are guaranteed by the Nigeria Deposit Insurance Corporation (NDIC).

Download or read book Financial Intermediation in the Pre consolidated Banking Sector in Nigeria written by Heiko Hesse and published by World Bank Publications. This book was released on 2007 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses unique bank-by-bank balance sheet and income statement information to investigate the intermediation efficiency in the Nigerian pre-consolidated banking sector during 2000-05. The author analyzes whether the Central Bank of Nigeria's policy of recent banking consolidation can be justified and rationalized by looking at the determinants of spreads. A spread decomposition and panel estimations show that the reform of the banking sector could be the first step to raise the intermediation efficiency of the Nigerian banking sector. The author finds that larger banks have enjoyed lower overhead costs, increased concentration in the banking sector has not been detrimental to the spreads, both increased holdings of liquidity and capital might have led to lower spreads in 2005, and a stable macroeconomic environment is conducive to a more efficient channeling of savings to productive investments.

Download or read book Micro Finance Policy Regulatory and Supervisory Framework for Nigeria written by and published by . This book was released on 2005 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Access for All written by Brigit Helms and published by World Bank Publications. This book was released on 2006-01-01 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Beginning with key questions about clients of microfinance - Who are they? What financial services do they want? What is the impact of financial services on their lives? - the book examines all levels of the financial system. It shows what works, what does not work, and where more learning is needed. By focusing on promising models and practices, it offers a vision of how to achieve financial systems that will ultimately offer access for all."--BOOK JACKET.

Download or read book Financial Services in Nigeria written by Taiwo Olubusoye Soetan and published by Springer Nature. This book was released on 2024 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a holistic picture of Nigeria's financial services landscape. This includes identifying service providers and regulatory bodies, understanding consumer behaviour, and examining the unique challenges faced by Nigerian financial institutions. The book presents up-to-date research on recent developments and regulatory changes within Nigeria's financial sector, as well as future considerations for how financial services and financial inclusion can play a crucial role in the country's sustainable economic growth. Combining academic analysis with practical insights, the book takes readers through Nigeria's key financial services providers, regulators, consumers, marketing strategies and challenges. A core focus throughout is on financial inclusion and the opportunities associated with reaching financially underserved or excluded populations, demonstrating how increasing financial access at a country-wide level aligns with global goals of reducing inequalities and promoting growth. It will have interdisciplinary appeal to scholars, students and professionals working in finance, economics, business, public policy and development studies.

Download or read book Microfinance in Africa written by Mr. Rodolphe Blavy and published by International Monetary Fund. This book was released on 2004-09-01 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on the experience of selected countries, this paper offers a critical presentation of the development of the microfinance sector in Africa. The paper supports the view that microfinance institutions, especially those engaged in full financial intermediation, complement effectively the banking sector in extending financial services and successfully draw on the rich experience of community-based development and preexisting informal methods of financial intermediation in Africa. Growing linkages between microfinance institutions and the banking system and the dissemination of good practices by nongovernment organizations contribute to the sound development of the sector, supported by regulation and supervision by local authorities.

Download or read book Microfinance and Poverty Reduction in Nigeria written by Uyi Benjamin Edegbe and published by GRIN Verlag. This book was released on 2013-06-07 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2013 in the subject Sociology - Miscellaneous, University of Freiburg (Global Studies Program, Institute fur Soziologie.), language: English, abstract: [...] The poverty question is a global phenomenon. It is perhaps one of the greatest challenges facing Mankind today, especially in most parts of the developing world. This Perhaps explains why the eradication of poverty was listed as the first of the eight issues of the millennium development goals. The problem of poverty is more disturbing giving the fact that there is abundant and enormous wealth in the world to adequately meet the needs of every one. Poverty may be defined as a condition of lack and inability to meet adequately the basic needs of life such as Shelter, food, education and health care. Similarly, according to a United Nations statement: Poverty is a denial of choices and opportunities, a violation of human dignity. It means lack of basic capacity to participate effectively in society. It means not having enough to feed and clothe a family, not having a school or clinic to go to; not having the land on which to grow one’s food or a job to earn one’s living, not having access to credit. It means insecurity, powerlessness and exclusion of individuals, households and communities. It means susceptibility to violence, and it often implies living on marginal or fragile environments, without access to clean water or sanitation.(UN,2008 quoted in Ucha,2010). 2 In other words, the problems of poverty is more worrisome in Sub-Saharan Africa with 47.5% of the people living on less than $1.25 and 70% living on less than $2 per day in Sub-Sahara Africa (World Bank, 2008).The figure may have become worse considering the drought that hit parts of horn of (East) Africa in 2011 and the problem of maladministration or poor governance bedeviling the region. In Nigeria the high level of corruption, poor leadership has contributed to exacerbate the problem of poverty. Ucha, 2010 puts it thus: “Unemployment, corruption, non diversification of the economy, income inequality, laziness and a poor educational system can be considered to be some of the key factors contributing to poverty in Nigeria”(p.46). Given the fact that Nigeria is a country with rich human and natural resources, it is disturbing that majority of her citizens are still very poor. The government has over the years formulated a lot of programs and policies geared towards poverty reduction; however it remains a controversy whether those programs and policies have actually achieved their desired objectives.[...]

Download or read book Microfinance in Africa written by S. Rajagopalan and published by . This book was released on 2009 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Africa is home to some of the poorest and vulnerable populations in the world. The ten poorest countries in the world are in Africa. Sub-Saharan Africa is the region with the highest incidence and greatest depth of poverty in the world. Fewer than one in five adults in Africa has access to the services of a formal or semi-formal financial institution. Microfinance in Africa is growing, though. A broad range of diverse institutions offer financial services to the poor and low-income clients in Africa. These include non-governmental organizations, non-banking financial institutions, cooperatives, credit unions, rural banks, Rotating Savings and Credit Associations (ROSCAs), postal financial institutions and an increasing number of commercial banks. Increasingly, technology is being used to expand microfinance outreach mobile phone banking is one such example. This book provides an overview of the microfinance sector in Africa, reviews the performance and impact of microfinance institutions in the region, and outlines some of the opportunities and challenges that African microfinance has on hand.

Download or read book Money Banking and Finance in Nigeria written by G. O. Nwankwo and published by . This book was released on 2001 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Contemporary Issues in Nigeria s Banking and Finance written by Sunday Ikechukwu Owualah and published by G-Mag Investments. This book was released on 1996 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Institutional Environment and Access to Microfinance by Self employed Women in the Rural Areas of Edo State Nigeria written by Christiana E.E. Okojie and published by . This book was released on 2009 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: The major objective of this study was to examine the relationship between the institutional environment of microfinance and access of rural women to microfinance. Focus group sessions were held with groups of rural women who are clients of formal and informal Microfinance Institutions (MFIs) in Esan Local Government Area of Edo State, Nigeria. The two formal institutions were the Ekpoma branch of Lift Above Poverty Organization Microfinance Bank and the Ujoelen Microfinance Bank. Fifteen case studies with fourteen women and one man were also examined. They had all accessed loans from formal and/or informal MFIs. Main findings Institutional environment: The traditional informal microfinance institutions still exist side by side with the formal MFIs. These informal mechanisms have not been absorbed into the regulated microfinance sector. They are still very popular with rural women, many of whom have belonged to these "meetings" for over a decade. These informal thrift and credit societies still remain the only source of funds available to poor women who have not been able to access the formal sector microfinance institutions. Why are rural women poor? According to respondents, rural women in the study area are poor because of heavy family responsibilities. They have to feed their family when the husband does not provide because they cannot leave their children hungry. Additionally, they pay their children's school fees as they do not want their children to be driven out of school. As a result of all these factors, women do not have enough capital for their trading and farming activities and cannot save. The women are hardworking and if they have capital they can trade with it and lift themselves out of poverty. The respondents gave examples of successful business women in the area that succeeded because they had access to credit from LAPO and other sources. Why it is difficult for women to borrow from banks? Rural women in particular find it difficult to borrow from banks because most do not have bank accounts, they have no collateral to present to the bank, and many women do not know the procedures for accessing bank loans. As they explained, while men inherit land and other property which they can use as collateral, women do not inherit property. They also said that women need their husband's consent to borrow money from the bank. Sources of microfinance for rural women: The main source of finance for the majority of rural women is their contribution from their savings/market association. However, with the advent of microfinance banks, more rural women are now accessing formal microfinance institutions. Rural women have accessed loans from the Lift Above Poverty Organization (LAPO) and Ujoelen Microfinance Banks. One of the women's groups also accessed credit from a government agency - the National Poverty Eradication Programme (NAPEP). Some of the more successful women have accessed multiple sources of credit over the years as their businesses have expanded. None of the participants has accessed loans from any of the commercial banks which have established microfinance banks/departments operating in the study area.

Download or read book The Nigerian Financial System written by Ade T. Ojo and published by . This book was released on 1976 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Readings in Banking and Finance in Nigeria written by G. O. Nwankwo and published by . This book was released on 2001 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Financial Linkage and Development in Sub Saharan Africa written by Adedoyin Soyibo and published by . This book was released on 1996 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Impact Assessment Methodologies for Microfinance written by David Hulme and published by . This book was released on 2001 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Microfinance programs and institutions are increasingly important in development strategies but knowledge about their impacts is partial and contested. This paper reviews the methodological options for the impact assessment (IA) of microfinance. Following a discussion of the varying objectives of IA it examines the choice of conceptual frameworks and presents three paradigms of impact assessment: the scientific method, the humanities tradition and participatory learning and action (PLA). Key issues and lessons in the practice of microfinance IAs are then explored and it is argued that the central issue in IA design is how to combine different methodological approaches so that a "fit" is achieved between IA objectives, program context and the constraints of IA costs, human resources and timing. The conclusion argues for a greater focus on internal impact monitoring by microfinance institutions.

Download or read book Financial Sector Instability and Challenges to Nigeria s Monetary Authorities written by Augustus N. Gbosi and published by . This book was released on 2002 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: