Archive NAMB urges MFBs to stop giving out huge loans

NAMB urges MFBs to stop giving out huge loans

-

- Advertisment -

The National Association of Microfinance Banks,NAMB, has advised operators of microfinance banks to stop giving out huge loans to individuals, to avoid the depletion of their shareholders’ funds.

Its Edo State Chapter Chairman, Isaac Akowe, said in Auchi, near Benin, that such loans could also lead to bad debt.

Akowe, who is the Managing Director of Auchi Microfinance Bank Limited, said more microfinance banks in the country might collapse due to high cost of operations.

He said the reason many microfinance banks were struggling to survive was because they were competing with commercial banks.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Our Security Template Focuses On Communal Collaboration, Honesty, Synergy – Gov. Bello

….says he doesn’t visit Abuja for solution to security challenges Kogi State Governor, Yahaya Bello has revealed that the successes...

2021 World Education Day: ActionAid Nigeria Calls For Increase Allocation To Education From 15% – 20%

As the World marks the 2021 International Education Day, a Non-Governmental Organization, (NGO), ActionAid Nigeria, has called for an...

COVID-19: Bill Gates backs Yahaya Bello’s position on need to invest in healthcare

Mayowa Adeniran|  The recent position of one of the world's richest, Bill Gates, has corroborated the agitations of Kogi State...

JONAPWD-LAGOS Commends Sanwo-Olu For Restoring Disability Empowerment Fund

Kenneth Afor |  The Joint National Association of Persons Living With Dissabilities (JONAPWD ) in Lagos state has commanded Babajide...

Groups Call On Judicial Panels Of Inquiry To Dispense Justice On Victims, Survivors Of Police Brutality

Kenneth Afor | The Network on Police Reform in Nigeria (NOPRIN) and Centre for Law Enforcement Education (CLEEN Foundation) has...

COVID-19 Second Wave: FG Urged To Ban Flights From Britain, Others

By Ijeoma Ukazu | With some countries currently experiencing the spread of the new COVID-19 variant, the Health Writers’ Association...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you

%d bloggers like this: