RURAL women in Plateau State have been urged to take advantage of the
micro-finance banks in their locality to save money, rather than spend
same on frivolity which adds no value to their lives.
The Bauchi Zonal Controller, Nigeria Deposit Insurance Corporation,
NDIC, Mr. Emmanuel Vontau who gave the charge in Jos, weekend, assured
the women they have nothing to fear about the future of Micro-Finance
Banks as most of them are “well organized and better than some major
banks in the country.”
Addressing shareholders at the maiden edition of the annual general meeting of Light Microfinance Bank Ltd, the Zonal Controller said the Portfolio at Risk, PAR, of Light Microfinance Bank was two per cent, adding that this showed that the microfinance bank was credible to do business with.
He said: “As regulators, we know the capabilities of banks, performances of microfinance banks are better than some major banks in the country. Management makes great impact on banks, I can attest that Light Microfinance bank is credible. Our people especially women at the grassroots should take advantage of the microfinance bank, save with them and invest in shares instead of spending their resources on frivolous ventures which add no value to them and their families.”
Earlier, the Managing Director of the microfinance bank, Mr. Danjuman Tat, said Light Microfinance Bank had a vision of being a dynamic and sustainable financial institution providing economic and social empowerment to the active poor.
He said, “We are a microfinance bank engaged in empowering economically active poor through provision of economic and social services so as to reduce poverty and improve livelihood through sustainable best practices. Since the bank started operation in 2012, our operating environment has been faced with many challenges ranging from religious crisis/security challenges majorly by boko haram and unknown gunmen/Fulani herdsmen among others.
“Despite these challenges, the bank posted positive results as reference point to other microfinance banks. The bank is conscious of the enormous task of sustaining and exceeding this performance.”
However, the shareholders in microfinance bank, having reposed confidence in the management of the bank, ratified their re-appointment and authorized the increase of the bank’s authorization capital from N2 million to N5 million.
Rural women
Addressing shareholders at the maiden edition of the annual general meeting of Light Microfinance Bank Ltd, the Zonal Controller said the Portfolio at Risk, PAR, of Light Microfinance Bank was two per cent, adding that this showed that the microfinance bank was credible to do business with.
He said: “As regulators, we know the capabilities of banks, performances of microfinance banks are better than some major banks in the country. Management makes great impact on banks, I can attest that Light Microfinance bank is credible. Our people especially women at the grassroots should take advantage of the microfinance bank, save with them and invest in shares instead of spending their resources on frivolous ventures which add no value to them and their families.”
Earlier, the Managing Director of the microfinance bank, Mr. Danjuman Tat, said Light Microfinance Bank had a vision of being a dynamic and sustainable financial institution providing economic and social empowerment to the active poor.
He said, “We are a microfinance bank engaged in empowering economically active poor through provision of economic and social services so as to reduce poverty and improve livelihood through sustainable best practices. Since the bank started operation in 2012, our operating environment has been faced with many challenges ranging from religious crisis/security challenges majorly by boko haram and unknown gunmen/Fulani herdsmen among others.
“Despite these challenges, the bank posted positive results as reference point to other microfinance banks. The bank is conscious of the enormous task of sustaining and exceeding this performance.”
However, the shareholders in microfinance bank, having reposed confidence in the management of the bank, ratified their re-appointment and authorized the increase of the bank’s authorization capital from N2 million to N5 million.
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