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20 micro-finance banks begin operations in Kano

By The Citizen
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Twenty out of the 37 newly established Micro-Finance Banks (MFBs) in Kano State have begun operation.

The 37 newly established micro-finance banks were inaugurated on January 8 by Malam Sanusi Lamido Sanusi, the Governor of Central Bank of Nigeria (CBN).

Alhaji Rabi'u Ibrahim, the Managing Consultant of MFBs in Kano State, disclosed the commencement of operations of the banks in an interview with journalists in Kano.

He said that the remaining 17 banks would soon start operation as soon as the construction of their business premises was completed.

'Prior to the establishment of the 37 micro-finance banks, there were eight existing micro-finance banks in the state.

'So, with the new 37 micro-finance banks, the number of the banks has risen to 45 in the state,'' he said.

Ibrahim said that the establishment of the banks in the state would bridge the existing gaps in micro-finance banking in the country.

He noted that Lagos State had over 200 micro-finance banks, while Imo had over 100 MFBs.

'A total of 444 workers have so far been recruited to work in the 37 new micro-finance banks in the state.

'We recruited a minimum number of 12 staff for each of the 37 banks, from the managing directors down to messengers and cleaners,'' he said.

Ibrahim noted that most of the recruited staff had already received training organised by a financial institution in the state.