Home»Public Administration» The impact of microfinance bank on the socio-economic development of Kogi state - case study of Nisal microfinance bank, Lokoja

The impact of microfinance bank on the socio-economic development of Kogi state - case study of Nisal microfinance bank, Lokoja

 Department:Public Administration  
 By:usericon Ohindasi  

 Project ID: 7982
 Rating:  (5.0) votes: 1
   Price:₦3000
Abstract
This study is to examine the impact of Micro Finance Bank on the socio-economic development of Kogi State with reference to Nisal Micro Finance Bank, Lokoja. The aim of the study is to ascertain the relationship between microfinance bank loans and economic Development in Kogi State.  To examine the conditions attached to the collection of loans from microfinance banks. Methods of data collection were both primary and secondary sources of data collection. Simple percentage ratio was used in analyzing the different answers obtained in the questionnaire. The findings revealed that Microfinance bank loans impact economic growth in Nigeria. There is a relationship between microfinance deposits and economic growth in Nigeria. The researcher therefore recommends that the Federal Government of Nigeria through the Central Bank of Nigeria (CBN) should make more funds available to the microfinance banks and supervise their distribution to make sure that the funds released get to the intended people it was actually meant for. There is a need for the Central Bank of Nigeria (CBN) to try as much as possible to relax and reduce the cash reserve ratio of the microfinance banks in order to enable the microfinance banks operating in Nigeria to have enough funds for disbursement to the intending borrowers....
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