MICRO FINANCE INSTITUTIONS ORIGIN, PROBLEMS AND PROSPECTS

ABSTRACT

This study is on micro finance institutions: origins problems and prospects. My main aim of carrying out this research is to assess their past efforts in Nigeria and to see how the new scheme might aid in the lapses encountered by the past institution. In the review of related literature area, such as their objectives, their past performances were carried out thoroughly. Also other programmes similar to micro finance and models of findings in other countries were pointed out. Finally, the policy drawn up by CBN for Micro finance institutions was discussed also. The research methodology employed was the concise method of secondary data collection, this approach focused on some selected institutions in Nigeria as a whole. Collected data where analyzed and interpreted using bar charts, pie charts and tables. Based on the findings of this study, conclusions were drawn and recommendations given.

TABLE OF CONTENTS

CHAPTER ONE

Introduction

1.1 Background of Study

1.2 Statement of Problem 6

1.3 Objective of Study 7

1.4 Scopes and Limitations of Study 8

1.5 Significance of Study

1.6 Definition of Terms 10

CHAPTER TWO

Literature Review 14

2.1 Overview of Micro Finance Activities in Nigeria

2.2 Models of funding in other Countries 22

2.3 Justification for the Establishment of Micro Finance Bank 26

2.4 Micro Finance Objectives 30

2.5 The Goal of Micro Finance Banks 35

2.6 Policy Measures and Instruments in the Establishment of the Framework for Micro Finance Banks

2.7 Commercial Banks in Rural Financing

2.8 Community Banks in Nigeria

2.9 Implementation of Micro finance in Nigeria as Organic Growth Path For MFBS

2.10 Ownership of Micro Finance Bank

2.11 Participation Of Existing Financial Institution In MicroFinance Activities

2.12 Justification For The Capital Resources

2.13 Framework For The Supervision Of MicroFinance Banks

2.14 Regulatory Incentives

2.15 The Role And Responsibilities Of Stake Holders

2.16 Progress Report On Micro Financing

2.17 Inferences drawn From Literature Revival

CHAPTER THREE

Research Methodology

3.1 Methodology

3.2 Population of Study

3.3 Sources of Data

3.4 Validation Of The Study

3.5 Statistical Tool For Data Analysis

CHAPTER FOU R

Data Presentation

4.1.1. Amount Required by some MFIs in Nigeria 65

4.1.2a Performance indicators reflecting growth

4.1.2b Microstart Achievement

4.1.3 Principle Activities Funded by MFIS

4.1.4 Amount so far set aside by various banks

4.2 Analysis of Data

CHAPTER FIVE

Summary, Recommendations, Conclusion

5.1 Summary of Findings

5.2 Recommendation

5.3 Conclusion