MfBs Better Positioned for Financial Inclusion Drive, Says NAMB
The National Association of Microfinance Banks (NAMB) has restated the commitment of the micro lenders to intensify efforts to deepen financial inclusion. National President of the Association, Joshua Ukute, who said this in a statement on Wednesday, also said that the MfBs’ licence revocation rumour was mischievous.
Ukute said that the commitment was a strategic step to improve their contributions to the Nation’s Gross Domestic Product (GDP) growth.
The chairman said that with improved investments in financial services technologies, solutions and constant capacity building initiatives for their human resources in recent years, the MfBs had all the operational capacity needed to surpass the expectations of their growing customers nationwide.
Ukute noted that some recent inspections were carried out in most MfBs across the six geopolitical zones by the NAMB.
He expressed delight that the micro lenders were actually doing well to invest in critical areas that were crucial to fulfilling their mandate of financial inclusion in line with regulatory requirements and global best practice standards.
“I am quite excited to tell Nigerians, especially the MFBs’ customers, that their microfinance lenders are doing so much in terms of investments on critical technology to deliver innovative, hitch-free and real services to them, no matter where remotely located they are.
“The MFBs are doing great in e-transactions and other financial services and the customers are the better for this.
“I, therefore, want to assure the MfBs’ customers that their banks are ready to offer them the best and they should continue to have confidence in the micro lenders and encourage their friends to bank with the MFBs.
“As I speak now, many of the banks are determined to serve the public at near-zero charges in demonstration of their service-oriented considerations for the customers” the NAMB President added.
On the rumour that the Central Bank of Nigeria (CBN) had recently revoked some MFBs’ licences, Ukute said the rumour was unfounded and totally baseless and should be disregarded by the public.
“No MFB’s licence had been revoked by the apex bank in the last two years and this clearly suggests that the peddlers of the rumour are mischievous and irresponsible in their report or claims,” he said.
Meanwhile, the NAMB’s leader also renewed the association’s recent appeal to the CBN to involve MFBs through the umbrella body in the formulation and implementation of key policies and other measures to enhance the nation’s financial system stability and sustainability.
