The Chief Executive Officer, MoneyWise Microfinance Bank has said that the mandatory certification for operators of microfinance would enhance efficiency in the sub-sector.

The CEO, Mr. Dele Oyekanmi, who is also the Chairman, National Association of Microfinance Banks (NAMBs), Ikeja chapter, made the disclosure in an interview with the News Agency of Nigeria (NAN) in Lagos.

He commended the Central Bank of Nigeria and Chartered Institute of Bankers of Nigeria for fixing 2013 for the total compliance of the mandatory certification for microfinance banks.

CBN Governor, Sanusi

Oyekanmi observed that the policy would ensure that microfinance institutions in the country were managed by experienced hands.

“The programme is going to be mandatory for all microfinance operators in the country as from 2013 and if you do not pass the examination you cannot run microfinance bank in Nigeria,” he said. He said that the programme, which started in 2010, was being conducted twice in a year and had transformed the sub-sector.

Oyekanmi said that before now, running microfinance bank was quite challenging because operators ran it as commercial and community banks, noting that they were different ball-game.

He said that there was need for active participation of trained personnel in the administration of microfinance banks to improve stability in the sub-sector.