News  |  Nigeria  |  National  

Over 200 farmers to benefit from NIRSAL MFBs lending

By Anthony Otaru, Gombe |   26 April 2019   |   5:10 am  

[File] Managing Director/Chief Executive Officer of NIRSAL, Aliyu Abdul Hameed

The Managing Director and Chief Executive Officer, Nigeria Incentive Based Risk Sharing for Agricultural Lending (NIRSAL), Aliyu Abdulhameed, has disclosed that in few weeks time, over 200 farmers stand to benefit from the take off of the Micro-Finance Bank (MFB) lending in the country.

Abdulhameed said the aim is to further strengthen the nation’s financial inclusion, create jobs at the rural level, and fill the gaps of closed micro-finance banks to give loans to Small Micro Enterprises (SMEs) across in NIgeria.

He also said the move would help reduce tension and insecurity situation once the rural farmers and small scale businesses are empowered with micro-credits nationwide.

The NISRAL boss made this known yesterday at the annual seminar for financial journalists, while speaking on, ‘’The NIRSAL Micro-Finance Bank and Real Sector Financing,’’ holding in Gombe State.

Represented by a Senior Manager of NIRSAL, Dr. Segun Ogidan, Abdulhamedd further noted that although about 902 microfinance banks are currently operating in the country, over 40 per cent of them are no longer viable.

“Our strategy is to ensure the coming back of failing micro-finance banks, remember, financial and non-financial service delivery is our mandate,” he said.

He argued that there is a need to address the problems of MFBs to stimulate SMEs into contributing adequately to growth, because access to finance and inclusion is still challenge in the country.

He added the Central Bank of Nigeria (CBN), is interested in driving financial inclusion, through branch network and efficient services.

You may also like

2 hours ago
President Bola Ahmed Tinubu has approved the appointment of Dr. Abdullahi Usman Bello as the Chairman of the Code of Conduct Bureau (CCB), pending confirmation by the Nigerian Senate. Presidential spokesman, Ajuri Ngelale, confirmed Tinubu's approval of Bello's appointment in a statement on X on Thursday. According to the Ngelale, Dr. Bello is a consummate…
1 day ago
The Paramount King of Ndigbo in Ghana, HRM Eze Chukwudi Ihenetu, has congratulated the sixth wife of Ooni of Ife, Her Regal Majesty, Queen Temitope Morenikeji Enitan Ogunwusi on her birthday which she celebrated on March 27, 2024. In a special congratulatory message issued from the revered Obi-Ukwu Obieziokwu palace in Accra, Ghana, the Umuduruoha…
1 day ago
The Governor of Missouri, United States, Mike Parson, has praised Mr. Muritala Ayinla, a Nigerian at the University of Central Missouri, for winning the prestigious Duane R. Sterling Rotary International Scholar award. Parson highlighted that the U.S. fosters an environment conducive to growth and the realization of dreams. During a meeting at the Missouri State…