Nigeria to establish SME microfinance bank


To support small-scale businesses in Abia state, the state government has disclosed plans to establish a small and medium enterprise (SME) microfinance bank. This was disclosed by the state’s Commissioner for SMEs, Gabriel Igboko.

While announcing that the bank will commence operation in October, Igboko said the bank was one of the three agricultural SME programmes of the state government, which is already approved by Central Bank of Nigeria (CBN).

According to the Commissioner, the government would through the bank disburse to other SME bodies so that they could have soft loans not normally available in commercial banks.



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