Pin It
Saturday 23rd October 2021,
Hope for Nigeria

CBN Trains 680 Certified Microfinance Bankers

CBN Trains 680 Certified Microfinance Bankers

CBN Trains 680 Certified Microfinance Bankers – There are more than 680 certified microfinance bankers trained by the Central Bank of Nigeria of Nigeria (CBN) to improve service delivery in microfinance banking industry.

Mr Kola Durojaiye, Deputy Director, Other Monetary Institutions Supervisory Division (OFISD), in CBN told the News Agency of Nigeria (NAN) in an interview on Wednesday in Lagos.

Durojaiye stated that the practitioners undertook comprehensive courses on microfinanc.

He mentioned the gesture would also make certain genuine microfinance banking practice as it is obtainable internationally.

The apex body also educated the practitioners to achieve its 80 per cent monetary inclusion as provided in Vision 2020 he said.

He criticised the practice of some microfinance bankers who see themselves as operators of commercial banks.

Unfortunately most microfinance banks evaluate themselves to commercial banks and this should not be so  he stated.

He said the certified microfinance bankers are anticipated to bring the sector.  Non-performing Loans (NPL) to decline.

According to the 2013 annual report of National Association of Microfinance Bank, the NPL hit 47.50 per cent, this is nevertheless high for the sector, due to the fact the sector is just establishing.

Moreover, some Nigerians believed microfinance banks are portion of the national cake, they collected loans and disappeared.

Durojaiye the apex bank was vigorously producing efforts to obtain 80 per cent economic inclusion by 2020, through advocacy and enlightenment.

The Federal government by means of the Central Bank of Nigeria (CBN) has created obtainable funds through many implies to tackle the concern of financial inclusion and micro enterprise development.

Fresh in our memories is N220b intervention fund released via microfinance banks on nine per cent interest price.

This fund is quite dear to my heart since 60 per cent is targeted to reach women, who have been described as engine blocks for speedy economic growth he mentioned.


For more subscribe to our channel:

If you enjoyed this article FEEL Free to TIP Hope for Nigeria Online:

Any Amount Welcome 🙂


Do you have story and would like it to be published on Hope for Nigeria? or want to Place Adverts on the Website, If yes email us at

Like this Article? Share it!

Leave A Response