The Role Of Microfinance Bank In Poverty Alleviation In Nigeria (A Study Of Lapo _Microfinance Bank And Umuchukwu Microfinance)
ABSTRACT
The study analyzed the Role of Microfinance
Banks in Poverty Alleviation in Nigeria. A study of Merchant Microfinance bank
and Lapo Microfinance bank and Umuchukwu microfinance bank located in Umuahia,
Abia State. This study identified the role of microfinance banks in reducing
poverty, the contributions of MFls in Nigeria and the level of microfinance
bank operations in the nation building through poverty alleviation. A random
sampling technique was used to select the respondents· and questionnaires were
used to elicit the data. Descriptive statistics and Chi-Square techniques were
employed in analyzing the data collected. The study found out that Microfinance
banks play a significant role in reducing poverty, Microfinance banks have
significant contribution in poverty alleviation and there is significant
et&kl&# between Microfinance banks and poverty alleviation. Microfinance
banks are indeed a p tent strategy of poverty reduction and a viable tool for
providing financial services to the poor, Microfinance banks empowers the small
and medium scale enterprises by providing credit to them in order to increase
and improve efficiency and reduce unemployment. It was therefore recommended
that there should be provision of incentives by the government to sustain MFIs
in order to further extend their services to the rural areas and capacity
building of MFls in Nigeria should be mandatory so as to develop appropriate
policies that will enhance sustainability and stability .
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-- (2023). The Role Of Microfinance Bank In Poverty Alleviation In Nigeria (A Study Of Lapo _Microfinance Bank And Umuchukwu Microfinance). Repository.mouau.edu.ng: Retrieved May 15, 2024, from https://repository.mouau.edu.ng/work/view/the-role-of-microfinance-bank-in-poverty-alleviation-in-nigeria-a-study-of-lapo-_microfinance-bank-and-umuchukwu-microfinance-7-2
--. "The Role Of Microfinance Bank In Poverty Alleviation In Nigeria (A Study Of Lapo _Microfinance Bank And Umuchukwu Microfinance)" Repository.mouau.edu.ng. Repository.mouau.edu.ng, 11 Jul. 2023, https://repository.mouau.edu.ng/work/view/the-role-of-microfinance-bank-in-poverty-alleviation-in-nigeria-a-study-of-lapo-_microfinance-bank-and-umuchukwu-microfinance-7-2. Accessed 15 May. 2024.
--. "The Role Of Microfinance Bank In Poverty Alleviation In Nigeria (A Study Of Lapo _Microfinance Bank And Umuchukwu Microfinance)". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 11 Jul. 2023. Web. 15 May. 2024. < https://repository.mouau.edu.ng/work/view/the-role-of-microfinance-bank-in-poverty-alleviation-in-nigeria-a-study-of-lapo-_microfinance-bank-and-umuchukwu-microfinance-7-2 >.
--. "The Role Of Microfinance Bank In Poverty Alleviation In Nigeria (A Study Of Lapo _Microfinance Bank And Umuchukwu Microfinance)" Repository.mouau.edu.ng (2023). Accessed 15 May. 2024. https://repository.mouau.edu.ng/work/view/the-role-of-microfinance-bank-in-poverty-alleviation-in-nigeria-a-study-of-lapo-_microfinance-bank-and-umuchukwu-microfinance-7-2