BY PROVIDENCE OBUH

The capacity building initiative for Microfinance Bank (MfB) operators, coupled with the certification programme is a driving force to the growth of the sub-sector.

Managing Director Lift Above Poverty Organisation (LAPO), Mr. Godwin Ehigiamusoe, told Vanguard in a telephone conversation, noting that more funds are coming to the industry, in addition to the recently launched Micro Small and Medium Enterprises Development Fund, MSMEDF.

He said this consequence upon the enterprising efforts of low income earners in the country, stating: “Nigeria has a large number of people who are exceptionally enterprising, more funds are coming to the sector and all stakeholders in the industry have been building capacity. These are positive factors that will lead to a vibrant microfinance sector in no distant future.”

Recall that the sector’s capacity building initiative and the Central Bank of Nigeria, CBN’s certification programme aims to contribute to strengthening and giving quality training to microfinance staff to facilitate access to financial services for the base of the pyramid.

The Initiative provides financial and human resources to improve management training and development and to drive product and process innovation, enabling organizations to meet their social and financial goals in an efficient and responsible manner.

Access to finance is a major challenge confronting the operators of the MSMEs. Towards bridging this gap, the Central bank of Nigeria introduced the Micro Finance Policy that guided the establishment of MFBs across the country. As a result of the several hiccups encountered in the operation of the MFBs, there was the obvious need for the capacity building of the operators of the MFBs. This is to enable them understand the workings of the MFBs and even the clients they are to serve.

The objective of the certification programme is to continue to build a sustainable skilled labour force for the microfinance sub-sector through the certification of operators and non-executive directors of microfinance banks in Nigeria.

Also, Chairman, National Association of Microfinance Banks, Ikeja Branch, Mr. Dele Oyekanmi, at a media parley urged the CBN to improve its capacity to build micro finance sub-sector, saying that sub-sector required more training in view of growing sophistication of their operations.

He said that their operations had improved in recent times because of the training which the operators had received.

According to him, “There is a need for the apex bank to continue the capacity building process in the micro finance sub-sector to enhance efficiency in the system.

“A lot of the operators are from the conventional banking background, they need thorough training to enable them manage their businesses effectively and in accordance with the guiding rules.

‘For instance, my managerial skill has improved than when I started operating micro finance business because of the various training programmes I have attended,” he said.