MfBs harp on driving inclusion, deny licence revocation

The National Association of Microfinance Banks (NAMB) representing all licensed Microfinance Banks (MfBs) has restated a commitment to deepen financial inclusion just as it dismissed MfBs’ licence revocation claim.

The National President of NAMB, Joshua Ukute, at a briefing in Abuja, said with improved investments in financial services technologies, the MfBs have all the operational capacity to surpass the expectations of their growing customers nationwide.

Ukute, who spoke on some recent inspections carried out in most MfBs across the six-geopolitical zones by the NAMB, assured that the micro lenders were investing in critical areas.

He explained: “I am quite excited to tell Nigerians, especially the MfBs’ customers, that their microfinance lenders are doing so much in terms of investments on critical technology to deliver innovative, hitch-free and real services to them, no matter where remotely located they are.

“Many of the banks are determined to serve the public at near-zero charges in demonstration of their service-oriented considerations for the customers,” the NAMB president added.

While dismissing a rumour that the Central Bank of Nigeria (CBN) had recently revoked some

MfBs’ licences, Ukute said: “No MfB’s licence has been revoked by the apex bank in the last two years and this clearly suggests that the peddlers of the rumour are mischievous and irresponsible in their report or claims.”

Ukute renewed NAMB’s recent appeal to CBN to involve MfBs in the formulation and implementation of key policies and other measures targeted at enhancing the nation’s financial system stability.