As a follow up to the certification programme for microfinance banks, the Central Bank of Nigeria (CBN) in collaboration with the Nigeria Deposit Insurance Corporation (NDIC) and Financial Institutions Training Centre (FITC)will be organising a one-week mandatory training programme for Directors of all Microfinance Banks (MFBs) in six locations in June, 2012.

The programme is aimed at exposing these directors to microfinance fundamentals and in the process, equipping them with essential skills needed to operate their institutions efficiently, such that these institutions will be well positioned to effectively discharge their developmental role in the national economy, going forward. Key topics to be covered during the training programme include;introduction to microfinance, managing microfinance banks, financial statement analysis and planning, risk management, corporate governance, and regulatory issues and management of microfinance banks.

To ensure national coverage and facilitate participation of all microfinance banks across the country, the training programme will be held at six centres over a three week run. The centres are Port Harcourt and Enugu from June 4th to 8th, 2012; Ibadan and Abuja from June 18th to 22nd, 2012 and the two centres in Lagos from June 25th to 29th, 2012. Additional details on this programme are on the FITC website.

In order to ensure affordability by all microfinance banks, the course fee has been significantly subsidised by the CBN and NDIC. In furtherance of this, each microfinance bank is expected to nominate two of its directors to attend the training programme.

It is expected that at the end of this mandatory training programme, the microfinance banks that participate in the programme, will be in the right position to support the Federal Government’s aspiration to transform the national economy, as experienced in the emerging markets and the developed economies by delivering on their respective institution’s mandates.

Source: Businessday