NAMB to Embark on Enlightenment Campaign

The National Association of Microfinance Banks (NAMB) is to embark on aggressive enlightenment campaign this year to erode majority of Nigerians’ ignorance about the sector.
Mr. Mathias Umeh, an official of NAMB and managing director of Nwangu Microfinance Bank, Enugu, while disclosing this to newsmen said, the ignorance of most Nigerians about the sector was worrisome and the association’s members had met to check the trend.
According to him, a lot of people, including journalists have not come to terms with the actual role and functions of micro finance banks and other micro finance institutions in the country.
“The image of micro finance banks is not sagging rather a lot of people, including some journalists have not come to terms with the role of microfinance institutions. You can see that First Bank, United Bank for Africa (UBA) and other mega banks are embracing micro finance banking. If there are very many applications awaiting Approval in Principle (AIP), the image of micro finance banks cannot be said to be failing,” Umeh said.
Umeh said that it was unfortunate that Nigerians are comparing micro finance banks with commercial banks in terms of operations and services.
He stressed that the association intended to collaborate with the Central Bank of Nigeria (CBN) to achieve this aim.