Financial inclusion: MfBs charges members on mandate to alleviate poverty in Nigeria

The National Association of Microfinance Banks (NAMB) says it will put measures in place to ensure members deliver the associations mandates, in order to deliver on the micro finance promise which is poverty alleviation, financial inclusion and access to finance.

The NAMB’s President, Mr. Rogers Nwoke, made this disclosure at the association’s National Executive Council Meeting, held recently.

He explained that the association is preparing its members to be able to get to the grassroots where our members really are and ensure that it doesn’t just happen at the headquarters.

“So we will take this campaign down to ensure that microfinance banks are well positioned to deal with the issues that we expect at the bottom of the pyramid.

“Because that clearly is where the key to the microeconomic development of the country is; and I think that we will get it right.”

The NAMB president said that Nigerians wouĺd see a major shift in the microfinance sector within the next 12 months in accordance with present leadership of the association.

“Nigerians will see a major shift from what they have been getting from their microfinance banks.

“We are doing BVN enrollment; we are buying our BVN machines and getting our members to enroll their customers, we are signing on to NIBSS and getting integrated into the national payment systems.

“Many of our banks are now digitalising their operations; I think Nigerians are in for a better deal coming forward.

According to Nwoke, the meeting would be used to strategise plans on improving the association with the viewsituation to tackle the various challenges confronting them.

He added that the meeting would also be used to prepare the executives to serve its members well and deliver on the association’s promises.

“We plan on ensuring adequate and effective monitoring and evaluation of the sectors activities and also ensure members abide by the code of ethics and code of conduct.

“As you are aware, the ultimate beneficiary of a well run professional microfinance banks is the consumers,’’ Nwoke said.

NAMB is the apex organisation and an association of all regulated microfinance banks in Nigeria.