ACCESS TO MICROFINANCE BANKS CREDIT FACILITY AND POVERTY ALLEVIATION THROUGH IMPROVED INCOME AMONG THE PEOPLE OF CROSS RIVER STATE, NIGERIA

Abstract

The study examined the relationship between access to microfinance banks facility and poverty alleviation through improved income among the people of Cross River State, Nigeria. One null hypothesis was formulated in study. Using the survey research design, data were collected from 572 randomly selected respondents. The data were statistically analyzed using chi-square test statistic at 0.01 significant level. The result showed that a significant association exists between access to credit facility and poverty alleviation in terms of improved income. The study recommended that microfinance banks should increase the amount of money given as credit to enable customers expands their businesses and investment, and enable them generate more income. It was also recommended that when credit facility(ies) are granted or given to customers, there should be follow-up by microfinance banks to ensure that it is judiciously used.

Keywords: Microfinance, microfinance banks, credit facility, poverty alleviation.

DOI: 10.7176/IKM/11-4-08

Publication date:August 31^st 2021