The National Association of Microfinance Banks, Kogi State chapter, has appealed to Governor Idris Wada to direct state officials to transact business with microfinance banks.
The association said the state should handle her micro, small and medium enterprise activities through microfinance banks.
The association chairman, Dele Akejirin, who made the appeal in Lokoja while speaking with journalists said the microfinance bank required a functional infrastructure and adequate security to strive in the state.
He said the government can increase patronage of the banks through payment of teachers’ salaries, school fees in all primary, secondary and tertiary institutions in the state as well as payment of pensioners benefits, adding that it will put the banks on sound footing in the state.
He said the microfinance banks have a total deposit of N2, 235,409,212, with over 195, customers, adding that the banks have effectively disbursed over N1 billion to customers in the state.
The chairman also appealed l to the governor to work out the modalities so that the banks can access N200 billion agricultural loans by the federal government and small and medium enterprises development fund through the payment of counterpart fund.
