THE ROLE OF MICROFINANCE BANKS IN THE ALLEVIATION OF POVERTY IN NIGERIA

  • Type: Project
  • Department: Accounting
  • Project ID: ACC4118
  • Access Fee: ₦3,000 ($9)
  • Pages: 37 Pages
  • Format: Microsoft Word
  • Views: 69
  • Report This work

For more Info, call us on
+234 8130 686 500
or
+234 8093 423 853

ABSTRACT 

This study explores the immense role of the microfinance banks in the alleviation of poverty in Nigeria. The researcher revealed that the rate at which rural dwellers deposit their money in their pillows rather than in microfinance banks is high. Data were collected through primary and secondary sources. As regarded to primary sources, questionnaires and interviewed were used. The chi-square (x²) method was used for testing of hypotheses. Responses to the questionnaires were analyzed using percentage method of analysis. Based on the findings of this study, an attempt on the role of microfinancing as stimulus to poverty alleviation in Nigeria may lack adequate knowledge of various financial transactions available and how the rural dwellers can access them. In conclusion, it hoped that the recommendation will help the microfinance banks to strengthen its weakness for better and effective services in order to achieve its sets of goals and socio-economic advancement for the alleviation of poverty in Nigeria. 

 CHAPTER ONE 

INTRODUCTION 

1.1: BACKGROND OF THE STUDY 

   A robust economic growth cannot be achieved without putting in place well focused programme to reduce poverty through empowering the people by increasing their access to factors of production. The latent capacity of the poor for entrepreneurship would be significantly enhanced through the provision of microfinance services to enable them engage in economic activities and be more self-reliant, increase employment opportunities, enhance household income and create wealth. Micro-financing has existed for years before the introduction of conventional banking in Nigeria and the later part of nineteenth century. (Ekot, 2008). The traditional Nigerian society has a system of group savings and assistance to one another. The practice was that a group of people who had needs for some form of capital or lump sum to execute a particular project which they could not raise adequate savings on their own, usually come together to form a savings group. The group may be named after the leader who is usually the initiator of the venture. The traditional microfinance institutions provide access to credit for the rural and urban low-income earners. These are mainly the informal self-help groups such as Isusu,women association like one obtainable during popular August meetings, Umu-ada progressive women association. Other providers of microfinance services include savings collectors and co-operatives. (CBN brief, 2005) 


 

 

 

 

 

 

 

 

 

 


THE ROLE OF MICROFINANCE BANKS IN THE ALLEVIATION OF POVERTY IN NIGERIA
For more Info, call us on
+234 8130 686 500
or
+234 8093 423 853

Share This
  • Type: Project
  • Department: Accounting
  • Project ID: ACC4118
  • Access Fee: ₦3,000 ($9)
  • Pages: 37 Pages
  • Format: Microsoft Word
  • Views: 69
Payment Instruction
Bank payment for Nigerians, Make a payment of ₦ 3,000 to

Bank GTBANK
gtbank
Account Name Obiaks Business Venture
Account Number 0211074565

Bitcoin: Make a payment of 0.0003 to

Bitcoin(Btc)

btc wallet
Copy to clipboard Copy text

500
Leave a comment...

    Details

    Type Project
    Department Accounting
    Project ID ACC4118
    Fee ₦3,000 ($9)
    No of Pages 37 Pages
    Format Microsoft Word

    Related Works

    ABSTRACT This study explores the immense role of the microfinance banks in the alleviation of poverty in Nigeria. The researcher revealed that the rate at which rural dwellers deposit their money in their pillows rather than in microfinance banks is high. Data were collected through primary and secondary sources. As regarded to primary sources,... Continue Reading
    THE ROLE OF MICRO FINANCE BANKS IN ALLEVIATION OF POVERTY IN NIGERIA ABSTRACT The study examined the role of micro financing in poverty alleviation in Nigeria. It sought answers to the following research questions: Is there any relationship between micro-financing and poverty reduction? Is there any relationship between micro-financing and... Continue Reading
    This chapter contains the background to the study followed by the statement of the problem, the objectives of the study, the significance of the study, the scope and limitations of the study and lastly, the scheme of chapters. ... Continue Reading
    A robust economic growth cannot be achieved without putting in place well focused programme to reduce poverty through empowering the people by increasing their access to factors of production.... Continue Reading
    A robust economic growth cannot be achieved without putting in place well focused programme to reduce poverty through empowering the people by increasing their access to factors of production.... Continue Reading
    Abstract Poverty connotes deprivations or denials of certain needs, services and denials of all attributes of human development. Poverty crashed the human spirit, three billion people, half the world’s population lives in less human needs. Poverty traps future generation in a vicious cycle with hope or opportunity, in an increasingly globalize... Continue Reading
    Abstract Poverty connotes deprivations or denials of certain needs, services and denials of all attributes of human development. Poverty crashed the human spirit, three billion people, half the world’s population lives in less human needs. Poverty traps future generation in a vicious cycle with hope or opportunity, in an increasingly globalize... Continue Reading
    CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Microfinance has gradually developed to be a worldwide movement, no longer being a subject matter of microfinance practitioners alone.  Governments, donors, development agencies, banks, foundations, corporations, business communities, civil societies, researchers, universities, consultants,... Continue Reading
    ABSTRACT This research work on co-operative and poverty in Enugu state intends to examine the level of poverty in Enugu state and to find out the level of co-operative movement, involvement in bringing permanent solution. Co-operative is well organized will no doubt help to alleviate poverty in any state. The researcher data which were processed... Continue Reading
    ABSTRACT This research work on co-operative and poverty in Enugu state intends to examine the level of poverty in Enugu state and to find out the level of co-operative movement, involvement in bringing permanent solution. Co-operative is well organized will no doubt help to alleviate poverty in any state. The researcher data which were processed... Continue Reading
    Call Us
    Get this work
    whatsappWhatsApp Us