Emerging Issues in Micro Finance Banks in Nigeria

Abstract

Microfinance is an economic development strategy intended to provide financial services such as credit, savings, micro insurance micro leasing and payment services to the poor and low income client.  This paper shall be dealing with emerging issues in microfinance banks in Nigeria. This paper is divided into eleven sections.  Introduction, microfinance concept and needs, characteristics and ownership of microfinance banks microfinance banking in Nigeria will be discussed. The paper also discusses functions and number of licensed MFB’s, forms of lending and microfinancing challenges.  This paper concludes by recommending measures for improvement of microfinancing services in Nigeria.