The Role Of Microfinance Bank In Poverty Alleviation In Nigeria (A Study Of Lapo _Microfinance Bank And Umuchukwu Microfinance)

80 pages (14107 words) | Projects

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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APA

-- (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 Jun 23, 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

MLA 8th

--. "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 23 Jun. 2024.

MLA7

--. "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. 23 Jun. 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 >.

Chicago

--. "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 23 Jun. 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

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