The President of the National Association of Microfinance Banks, Dr. Adenrele Oni, has called on the Federal Government to strengthen support for microfinance banks, saying additional interventions and a more enabling regulatory environment are needed to expand financial inclusion and boost economic growth.
Oni made the appeal while speaking with journalists on the sidelines of the association’s 16th Annual General Meeting in Abuja. The conference was held under the theme, ‘Beyond 20 Years: Engineering Sustainable Microfinance for the Next Generation.’
He acknowledged the efforts of the Presidency, the Central Bank of Nigeria and the Nigeria Deposit Insurance Corporation, noting that recent reforms and policies have provided stability and improved understanding of the microfinance banking industry. However, he stressed that more government backing remains essential.
According to him, increased intervention funds would enable microfinance banks to extend affordable loans to businesses and low-income Nigerians, helping to stimulate economic activity and support
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