ByAdemola Alawiye

Monday, 20 Dec 2010

Accion Microfinance Bank has declared a capital base of N1.2bn at the end of 2010.

Speaking at the bank’s Annual Customer Forum on Wednesday, the Managing Director, Accion MfB, Mrs. Bunmi Lawson, said the Central Bank of Nigeria initiated the reforms to separate the wheat from the chaff in order to restore customer’s confidence.

According to Lawson, MFBs are now expected to contribute substantially to the nation’s Gross Domestic Product, while supporting more, the active poor and developing capacities and savings culture in them.

She added, “After the reform, the MFBs that survived have started seeing gradual return of customers as confidence has been restored in the sub-sector, and MFBs now serve their purpose of establishment in Nigeria without fear or tension.”

Lawson noted that the bank disbursed over N2.7bn in the course of the year as a way of contributing to the growth of the Nigerian economy and empowerment of Nigerians.

Speaking on the bank’s plan for the coming year, Lawson said it was working towards increasing its capital base to over N3bn, so as to continue touching lives.

“Our key focus for next year is to increase access to customers. We intend investing in technology to ensure that people can experience banking at their market place and not necessarily coming to our branches before they can bank with us,” she added.

Source: Punch