KANO KANOģ8 Ajiya Microfinance Bank Limited Unit c/o Leadway Assurance Co. OYOģ6 Ajikobi Microfinance Bank Limited Unit 13 Ajikobi Street, Ilorin, Kwara State KWARAģ7 Ajingi Microfinance Bank Limited Unit AJINGI TOWN, AJINGI LOCAL GOVT.
KOGIģ5 Ajewole Microfinance Bank Limited Unit Ilorin Road, Sabo, Ogbomosho, Oyo State.
OGUNģ3 Ajaye-Jebwo Microfinance Bank Limited Unit Km 8, Minna Zungeru Road, Maikunkele, Minna, Niger State NIGERģ4 Ajeko Microfinance Bank Limited Unit Market Square, Ate-Iyale Road, Lokoja, Kogi State. KADUNAģ2 Aiyepe Microfinance Bank Limited Unit 1, Ikenne Road, Odogbolu Local Govt Area, Ogun State. Post Graduate School, Zaria, Kaduna State. RIVERSģ1 Ahmadu Bello University Microfinance Bank Limited Unit Main Campus, Opp. Area, OSUNĢ7 Agosasa Microfinance Bank Limited Unit 5, IPOKIA ROAD, ILUPEJU ESTATE, AGOSASA, IPOKIA LOCAL GOVERNMENT OGUNĢ8 Aguda Titun Microfinance Bank Limited Unit 21, Shonola Street, Aguda Titun, Ogba, Lagos State LAGOSĢ9 Aguleri Microfinance Bank Limited Unit 16, Ivenso Street, Amaeze, Aguleri, Anambra State ANAMBRAģ0 Ahetou Microfinance Bank Limited Unit Akabuka, Onne Local Government Area, Rivers State. DELTAĢ6 Agbowu Microfinance Bank Limited Unit Ogbaagba Olaoluwa Local Govt. Meaning 40.3% – or 39.2 million adult Nigerians – were excluded from services provided by financial institutions in the country, especially Banks.Ģ5 Agbarho Microfinance Bank Limited Unit No 95A, Old Ughelli/Warri Road, Orho-Agbarho, Delta State. When those that had financial services from the informal sector such as savings clubs/polls (Osusu, Ago, and money lenders) were included, the total access percent was 53.7%. 5 years after the CBN licensed microfinance banks to begin operation, a 2010 EFInA study revealed a marginal increase of those served by the formal finance market from 36.0% in 2005, to 36.5% in 2010.
The Role of Microfinance Banks in poverty reduction in Nigeria cannot be overemphasized. The major differences between both banking institutions were that microfinance backs were established to offer loans to individuals without the needed collateral to acquire them, while commercial banks required collateral – which was not less in value compared to the loan – before loans would be given.Īlso, microfinance Banks had a limit to the amount they could give out as loans, while commercial banks did not. However, despite being banking institutions, microfinance banks are different from traditional commercial banks. Read More on this: Requirements to Start a Microfinance Bank in Nigeria Difference between microfinance banks and traditional commercial banks
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