An Evaluation Of The Roles Of Micro Finance Banks As An Alternative to Poverty Alleviation Programme In Nigeria (A Case Study Of Avram Micro Finance Bank, Owerri Imo State)
ABSTRACT
The economy today is faced with
challenges that tend to affect productivity and performance of the economic
section of the country. Micro finance bank was set up be the government in
order to solve some of the vital problem affecting the growth and development
of the country. The central bank of Nigeria (CBN) as part of its reforms
agenda; initiated micro finance bank as a policy aimed at bringing credit to
the door step as a pollcy aimed at bringing credit to the door step of the poor
who do not have access under the conventional financial system. The
introduction of micro finance bank in the economy serves as an instrument of
socioeconomic development and rural transformation cannot be overemphasized. It
is also a scheme to enhance the productivity performance of the country
(Oyejide, 2008). Poverty is said to be broad, pervasive and multinational
developing countries such as Nigeria. It connotes living below a certain minimum
level of income that is acceptable by a particular society such as ours. The
Nigerian human development report 1996 reported that 60% of the countries
suffer from lack of ncome in order to achieve objective minimum of goods and
services which predicted on helping the poor entrepreneur to realize their
dreams, thereby contributing to the economic growth an development of the
nations. The new micro finance banks were established to provide funding and
financial advisory services to small scale entrepreneurs, manufacturers,
supplies and other engaged in other form of economic activities, whose business
are often stunted as a result of in adequate funding. Over time, such customers
would be entitled to loans, which are strictly monitored to ensure that there
are no abuses. Another main feature of micro finance banking business is the
loading of cash flow rather than collateral (Adamola 2007).
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OWUAMALAM, J (2021). An Evaluation Of The Roles Of Micro Finance Banks As An Alternative to Poverty Alleviation Programme In Nigeria (A Case Study Of Avram Micro Finance Bank, Owerri Imo State) . Repository.mouau.edu.ng: Retrieved May 04, 2024, from https://repository.mouau.edu.ng/work/view/an-evaluation-of-the-roles-of-micro-finance-banks-as-an-alternative-to-poverty-alleviation-programme-in-nigeria-a-case-study-of-avram-micro-finance-bank-owerri-imo-state-7-2
JULIAN, OWUAMALAM. "An Evaluation Of The Roles Of Micro Finance Banks As An Alternative to Poverty Alleviation Programme In Nigeria (A Case Study Of Avram Micro Finance Bank, Owerri Imo State) " Repository.mouau.edu.ng. Repository.mouau.edu.ng, 13 Jul. 2021, https://repository.mouau.edu.ng/work/view/an-evaluation-of-the-roles-of-micro-finance-banks-as-an-alternative-to-poverty-alleviation-programme-in-nigeria-a-case-study-of-avram-micro-finance-bank-owerri-imo-state-7-2. Accessed 04 May. 2024.
JULIAN, OWUAMALAM. "An Evaluation Of The Roles Of Micro Finance Banks As An Alternative to Poverty Alleviation Programme In Nigeria (A Case Study Of Avram Micro Finance Bank, Owerri Imo State) ". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 13 Jul. 2021. Web. 04 May. 2024. < https://repository.mouau.edu.ng/work/view/an-evaluation-of-the-roles-of-micro-finance-banks-as-an-alternative-to-poverty-alleviation-programme-in-nigeria-a-case-study-of-avram-micro-finance-bank-owerri-imo-state-7-2 >.
JULIAN, OWUAMALAM. "An Evaluation Of The Roles Of Micro Finance Banks As An Alternative to Poverty Alleviation Programme In Nigeria (A Case Study Of Avram Micro Finance Bank, Owerri Imo State) " Repository.mouau.edu.ng (2021). Accessed 04 May. 2024. https://repository.mouau.edu.ng/work/view/an-evaluation-of-the-roles-of-micro-finance-banks-as-an-alternative-to-poverty-alleviation-programme-in-nigeria-a-case-study-of-avram-micro-finance-bank-owerri-imo-state-7-2