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Expert tasks NAMB on better represent MFBs

By Amaka Agwuegbo
The leadership of the National Association of Microfinance Banks, NAMB, has been asked to live up to their responsibilities by ensuring that the  microfinance sector is well represented before the Central Bank of Nigeria, CBN, so as to propel the sector to greater heights.

Speaking with Vanguard, the chairman of a northern based microfinance bank who pleaded anonimisty, said though the leadership are just 3 months into their tenure, but nothing tangible has been achieved to move the sector forward.

“I don’t have any personal grudge against the president nor any executive member but I am of the belief that Chief Olutayo Adenekan would have been a better leader because they have not been living  up to expection.

“They are somewhat complacant and have not been able to penetrate the CBN, thus making the regulatory body not to take us serious. We don’t have a functional secreteriat where people can reach us through mail or in person.

This is of great importance because no one would want to do serious business with someone that can’t be reached.”

Continuing, the MFB chairman tasked the executives to always act as checks and balances to each other so as to achieve the aims of the association.

“They are to monitor each other such that if the president is not doing well,
other members of the executives should be able to prod him to action. This will make them wake up to their responsibilities because time is not on our side.”

Though the chairman pointed out that he is not instigating a revolution against the leadership, he said unsatisfied members have the right to call for their removal during the coming AGM.

In his reaction, the chairman of the South-South Zone, Mr. Ubokutom Nyah, said  it is too early to criticise the present national leadership as it’s only a matter of time before the results become glaring for all to see.


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