AN INSIGHT INTO THE NIGERIAN MICROFINANCE INDUSTRY
It is estimated by UNICEF that 71% OF Nigerians live below a dollar per day and 92% on 2 dollars per day. This estimate shows the high level of poverty in the country. The social responsibility of any microfinance bank is to help alleviate poverty by filling the void created by conventional banks through provision of broad range of finance (ranging from savings to micro loans) to the under-banked, people with little or no access to proper financing. The microfinance Industry in Nige...