NLNG Corporate Caring banner First bank SME Connect Fidelity bank card banner Emerald Energy Institute Camano banner

Bill to regulate and supervise Micro Finance business passes second reading

By Mayowa Okekale, Abuja on 08/06/2016

Gmail icon

Views: 2,896

A Bill for an Act to make provisions for the licensing, regulation and supervision of Micro Finance Business in Nigeria, has passed the second reading, at the Senate, and has been referred to the Senate Committee on Banking for further legislative activities.

The Micro Finance Bill SB. 57, as sponsored by Senator Matthew Urhoghide of Edo South Senatorial District, “would regulate the operations of Micro Finance Banks and repeal the Community Bank Acts in the country” according to the sponsor.

Speaking also on the Bill, Deputy Senate President, Ike Ekweremadu, admitted that “Microfinance Banks will allow credit facilities available for people, most especially farmers and businessmen. It will also protect depositors and customers of the Microfinance Banks.”

Senate Leader, Ali Ndume while speaking in support of the Bill added that “it’s an important gap the bill seeks to fill in the country.”

Photo shows Senator Matthew Urhoghide.


Source News Express

Posted 08/06/2016 04:33 AM





You may also like...
‘Operation Crush Boko Haram’: MORE TROOPS FOR BORNO...

Today’s weather outlook, as forecast by the Nigerian...

Benue PDP tackles Buhari, Akume over insecurity

Obi not denied visa; presently in USA on...

Pandemonium as thugs storm Assemblies of God Church...

Osun APC Guber: There was a conspiracy against...

Sexual assault: Cosby testifies for seven hours in...

Ex-Governor’s aide escapes assassination

Air Force set to join war against banditry...

Fire Outbreak: Residents hail Gov. Ugwuanyi’s quick intervention...

Allianz Ghana appoints new CEO

Ugwuonye: Court adjourns continuation of trial to July...


Latest News BREAKING: Oshiomhole gets ultimatum to resign as APC chairman Why I am confident of a second term 5,000 Boko Haram terrorists in military’s net — Buratai Noise pollution: Lagos threatens to close down mosques, churches, others Expel Obaseki, Edo APC LG Chairmen tell Party’s National Leadership Kogi Polls: Armed thugs to be shot on sight, IGP warns Outrage over proposed death sentence for hate speech Why kidnapping is rampant in Kuje — Residents Court Ruling: Secondus demands disqualification of Bayelsa governorship candidate School Principal killed in Taraba ambush We will fight FG to finish on IPPIS ― ASUU Unpaid Salaries: 500 teachers protest, block Cross River Governor’s Office


Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (561,706 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (451,798 views) Shameless Genevieve Nnaji exposes breasts in public (400,757 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (334,816 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (303,148 views) 10 cars more expensive than Jets (279,458 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (258,497 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (256,607 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (238,110 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (224,429 views) Lagos plane crash: Journalist releases victims’ names (201,095 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (197,886 views)


CBN milk production

CBN banner advert

UBA Wise Savers Promo


Categories Advertorials (3) African Press Organisation (81) Art & Literature (108) Business & Economy (4,564) Business Verdict (86) Columnists (1,142) Complaints & Requests (97) Enterprise & Opportunities (219) Entertainment (702) Features (844) Global Business Monitor (493) ICT Monitor (67) International (4,198) Interview (211) Live Commentary (30) Love Matters (176) Maggie's Blog (481) News (53,894) Opinion (1,418) Pidgin (17) Politics (11,700) Religion (1,118) Sports (2,221) Stock Watch (39) AMA & Al Jazeera Global Update







APO Group Partner




GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera