*The Central Bank of Nigeria assures stakeholders of its commitment to partnering with Micro, Small and Medium Enterprises to promote the Agricultural Credit Guarantee Scheme and financial inclusion in the economy

Isola Moses | 绿帽献妻

In a bid to further enhance their needed access funds to develop and expand their economic activities, the Central Bank of Nigeria has disclosed a partnership deal with Microfinance Banks (MFBs), to boost financial inclusion and stimulate growth of Micro, Small and Medium Enterprises in the country.

绿帽献妻 learnt Mr. Sah Nyashi, Controller, CBN Yola Branch, noted this at the weekend during the inauguration of Dabtikir Microfinance Bank Limited, in Hong, Headquarters of Hong Local Government Area of Adamawa State, in North-East, Nigeria.

Nyashi, represented by Adamu Yusuf, Head Currency Management Office at CBN, affirmed that such a partnership is crucial in ensuring effective implementation of the Agricultural Credit Guarantee Scheme in the economy.

The CBN top official stated: “CBN would continue to partner with you in the areas of Micro Small and Medium Enterprises, Agricultural Credit Guarantee Scheme and Financial Inclusion.

鈥淭his came at a time when the less privileged really needed access funds to develop and expand their economic activities.

鈥淢icrofinancing is part of the strategy CBN implore to enhance the economic growth and sustainability in Nigeria by channelling loans/credit to the populace.”

Nyashi, therefore, urged the people to take advantage of the opportunities to improve their businesses, agency report said.

Highlighting the importance of MFBs in the country’s economy, he further noted that microfinance provides access to capital critical for small businesses to thrive, create employment opportunities and improve living standards.

He equally advised the Management of the bank, to embrace application of technology in its operations, and build trust with consumers of financial products and services for successful businesses.

Speaking on the occasion, Prof. Benson Baha, Provost College of Education, Hong, advised the people to open accounts with the bank for social and economic development at the grassroots, report said.

Prof. Baha stated: “The aim of establishing the bank is to promote rural development through provision of finance and banking services to the host communities.