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2015: NAMB to be driven by innovations

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The National Association of Micro-finance Banks NAMB would be driven by innovation in the year 2015. Some of the innovations include: the introduction of Micro-finance Money Market Association of Nigeria; uniform IT platform system; introduction of agency banking; organising of annual conference; among others. These innovations would further facilitate the activities of the sub sector, said President of the Association, Mr. Valentine Whensu.

CBN Governor, Mr. Godwin Emefiele
CBN Governor, Mr. Godwin Emefiele

Accordingly, he said, “We want to encourage confidence within ourselves by introducing what we call Micro finance money market association of Nigeria and we are working on that so that we can learn from within ourselves. We are also working on having our own annual conference in 2015, such that we can bring in people that matters both within and outside the country to talk about MfBs and what benefit they stand to get.

“Financial inclusion is basically micro finance because we are the people dealing with those in the grass roots and we need to bring in the people who are excluded and that is the reason why what the association is doing together with the CBN is to encourage a uniform IT platform system such that we can be every where in this country.

“We are introducing agency banking, you don’t need to have bricks and mortar to run, you can get your agency which is your customer to have your PoS and business will be done.

“We are the age of technology where you can carry your money on your phone and the people who can do this are people who are working in the rural areas with the MfBs. The association is working to ensure we bring in 65 percent of this populace that are excluded financially back into the net,” he said.

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