Publication:
Nigeria's Microfinance Bank Sector: Review and Recommendations

Simple item page
dc.contributor.authorWorld Bank Group
dc.date.accessioned2019-02-25T17:12:34Z
dc.date.available2019-02-25T17:12:34Z
dc.date.issued2017-12
dc.description.abstractThe report analyzes the status of the Nigerian Microfinance Banks (MFBs) sector and aims to identify and address the challenges of its effective regulation and supervision. Ensuring the financial soundness of the MFB sector is regarded as a prerequisite for its further development. This report was prepared at the request of Other Financial Institutions Supervision Department (OFISD) of the Central Bank of Nigeria (CBN) to inform OFISD's efforts to develop a strategy for regulation of the MFB sector with emphasis on its consolidation. The report does not attempt to address in depth other systemic issues related to microfinance market development, such as funding constraints or gaps in financial infrastructure. While important these factors are secondary to the report’s central focus on reforming and recalibrating the regulatory framework and ensuring effective supervision, which is regarded as necessary precursors to the growth of the sector. Only once these regulatory and supervisory reforms are implemented will the MFB sector be better positioned to start to make a more significant and sustainable contribution to financial inclusion. The findings of the report are complemented with fifteen case-studies based on a representative sample of different MFB business models and origins, drawing lessons regarding the challenges faced by the sector about factors such as their business model, governance, funding, and client base. The Microfinance Policy, Regulatory and Supervisory Framework for Nigeria of 2005 established MFBs as a means of formalizing microfinance institutions (MFIs) in order to promote financial discipline and sustainability, while also providing access to financial services to the unbanked population. The framework was designed to attract new capital as well as to regularize Community Banks (CBs), which had been established since the early 1990s, mainly as conduits for directed lending. Licensed by the CBN, MFBs are allowed to solicit deposits, which are guaranteed by the Nigeria Deposit Insurance Corporation (NDIC).en
dc.identifierhttp://documents.worldbank.org/curated/en/502471550250186711/Nigerias-Microfinance-Bank-Sector-Review-and-Recommendations
dc.identifier.doi10.1596/31320
dc.identifier.urihttps://hdl.handle.net/10986/31320
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectMICROFINANCE
dc.subjectBANKING REGULATION
dc.subjectFINANCIAL INTERMEDIATION
dc.subjectFINANCIAL REGULATION
dc.subjectFINANCIAL SERVICES
dc.subjectRISKS
dc.titleNigeria's Microfinance Bank Sectoren
dc.title.subtitleReview and Recommendationsen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titleNigeria's Microfinance Bank Sector
okr.date.disclosure2019-02-15
okr.doctypeEconomic & Sector Work::Other Financial Sector Study
okr.doctypeEconomic & Sector Work
okr.docurlhttp://documents.worldbank.org/curated/en/502471550250186711/Nigerias-Microfinance-Bank-Sector-Review-and-Recommendations
okr.guid502471550250186711
okr.identifier.doi10.1596/31320
okr.identifier.externaldocumentum090224b086989e4a_1_0
okr.identifier.internaldocumentum30838047
okr.identifier.report134708
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/502471550250186711/pdf/134708-WP-P160136-PUBLIC-15-2-2019-11-10-55-NigeriaMicrofinanceBankSectorReviewandRecommendations.pdfen
okr.region.administrativeAfrica
okr.region.countryNigeria
okr.sectorFinance
okr.themeFinancial and private sector development :: Regulation and competition policy
okr.themeFinancial and private sector development :: Micro, Small and Medium Enterprise support
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicFinance and Financial Sector Development::Banks & Banking Reform
okr.topicFinance and Financial Sector Development::Financial Regulation & Supervision
okr.topicFinance and Financial Sector Development::Microfinance
okr.topicRural Development::Rural Microfinance and SMEs
okr.unitFinance and Markets Global Practice
Files
Original bundle
Now showing 1 - 2 of 2
Thumbnail Image
Name:
134708-WP-P160136-PUBLIC-15-2-2019-11-10-55-NigeriaMicrofinanceBankSectorReviewandRecommendations.pdf
Size:
2.27 MB
Format:
Adobe Portable Document Format
Download
No Thumbnail Available
Name:
134708-WP-P160136-PUBLIC-15-2-2019-11-10-55-NigeriaMicrofinanceBankSectorReviewandRecommendations.txt
Size:
170.29 KB
Format:
Plain Text
Download
License bundle
Now showing 1 - 2 of 2
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Plain Text
Description:
Download
No Thumbnail Available
Name:
license.txt
Size:
1.71 KB
Format:
Plain Text
Description:
Download
Collections
Other Financial Sector Study