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NAMB will reposition MFB sector, Nosigie

By Amaka Agwuegbo
The 2nd Vice president of the National Association of Microfinance Banks, NAMB, Mr. Jude Nosigie, said the association would ensure that the aim of the MFB policy is brought to Nigerians.

Speaking to Vanguard, Nosigie said the national leadership and operators would work together to change the bad public image the sector has acquired by separating fake from the real MFBs.

“There is so much money out there and the leadership and operators need to let people know that MFBs are not only for market people but for everyone.

“Instead of them putting their money in fixed deposit accounts in commercial banks where they’ll not know what their money will be used for, we’ll make them see reasons why it is better for them to deposit their money in an MFB because such money would be used to positively affect the lives of the common man.”

Pointing out ways in which government can support the growth of the sector, Nosigie said government could assist by creating sensitization programmes that would enable MFBs regain public confidence.
“I would not advocate for government to channel funds into MFBs.

“Instead, government can embark on sensitization programmes that will boost the confidence of the banking public.
“This is because if there is confidence in the sector, our customers that patronize commercial banks would want to come to us, especially when they know that the money they are depositing is safe and would be used in affecting lives positively.

“Also, good radio jingles and awareness programmes would be used to educate the banking public about the activities of MFBs.

“Just like how it took a lot of convincing on the part of the missionaries to get our ancestors to believe the gospel, we would employ a lot of convincing to get Nigerians to give MFBs a chance to grow.”


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