THE President of the Chartered Institute of Bankers of Nigeria (CIBN), Otunba Debola Osibogun has described microfinance banks as elixir for stabilizing the economy, especially if they implement financial inclusion strategy and make efforts towards accessing the intervention fund provided by the Central Bank of Nigeria, (CBN)
Speaking during a courtesy visit to Accion Microfinance Bank (AMfB) in Lagos Wednesday, Osibogun said the banking sector, particularly microfinance banks would help stabilize the nation’s economy in the face of the recent economic challenges.
The CIBN boss, who commended the management AMfB over its recent implementation of financial inclusion strategy and the achievement made towards accessing the intervention fund of the CBN, said the professional body is out to help financial institutions fight challenges through capacity building.
She said AMfB currently contributes to the institute’s endowment fund, adding that that would further engender professionalism and stimulate improved performance by students writing the CIBN microfinance certification examinations.
Osibogun noted that the bank has been committed to financial inclusion and relentless support for the development of microfinance in the country, which she said would further enhance economic capacity, empowering micro-entrepreneurs and low-income earners”.
She said the institute would ensure that professional standards are maintained among the practitioners.
“The institute is out to find solution to the challenges faced in the sector through professional practice and adequate training of skilled professionals who will move the industry forward”, Osibogun said.
Also speaking at the event, the Managing Director of AMfB, Bunmi Lawson, who said its organization was recognized by the CIBN for its contribution to the banking sector, revealed that the microfinance bank is expanding across the country to enhance sustainable services and improve the economic challenges in the nation.
She said the reason for the visit by the CIBN council member was to discuss partnership arrangement and locate areas of mutual benefits towards capacity building, amongst other agenda.
SOURCE: Nigerian Guardian
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