Fidelity bank card banner Camano banner

Association of Non-bank Microfinance Institutions meets in Abuja, plots strategies to promote digital financing

By Mayowa Okekale, Abuja on 24/11/2016

Views: 2,304

The Executive Secretary of the Association of Non-bank Microfinance Institutions of Nigeria (ANMFIN), Dr Godbless Safugha, has said that this year’s conference has provided an opportunity for Monetary Financial Institutions (MFIs) to key into the fast-moving train of digital financing, and form partnerships that will position the financial outfits as agents that could now provide such essential services that were traditionally reserved for the deposit monetary banks and the licensed mobile money operators.

Dr Safugha, who disclosed this in an exclusive chat with News Express at the 2016 conference of the ANMFIN, held recently at the Sharon Ultimate Hotel, Area 3, Garki, Abuja, with the theme, ‘Digital Finance: The Emerging Trend,’ added: “The rate of change in the market is so fast that several MFIs will be left behind in the next few years.”

According to the organisers, the conference was designed to provide a platform for leveraging technological advances to promote financial viability as well as deepening financial inclusion in Nigeria. And that it also succeeded in providing an opportunity for connections and engagements among stakeholders, even as they proffered solutions to the challenge of poverty alleviation, and dispensed ways of also rendering quality financial services to rural dwellers.

In the key-note address entitled ‘Imperatives and Opportunities for Microfinance Institutions to Linking Agriculture Value-chains to Digital Finance’, Minister of State for Agriculture Dr Heineken Lokpobiri, who was represented by Alhaji Muyiwa Yusuf, said that, agriculture should prominently be seen as a formidable weapon to tackle the arduous challenges of poverty, food insecurity, unemployment, declining oil prices, and devaluation in the country.

He noted: “This conference on Digital Finance succinctly captures the direction of our agriculture in the 21st Century, and far beyond. This is actually not only in Nigeria, but across the globe, particularly looking at the present and future of our food requirements and the increasingly-growing Nigeria and world population.”

On the need for fund which could cause increasing growth and expansion in the agricultural sector, he said that farmers need funds to buy seeds and fertilizers, while agro-dealers also need funds to stock up on agricultural inputs.

The minister tasked participants to consciously and conscientiously explore and exploit available opportunities provided by the esteemed gathering of notable people at the conference.

In his speech, National President of the Association, Hon Hamid Giwa Afolabi, expressed happiness, saying: “My excitement is embedded in the fact that over five years of swimming in the ocean of employment creation, poverty reduction and financial inclusion, ANMFIN has continued to pursue her goal of promoting microfinance for sustainable development without wavering.

“Recession or no recession, for those who may not know, our motto at ANMFIN is ‘to promote microfinance for sustainable development.’ Like the children of Issachar in the Holy Bible, ANMFIN have ‘understanding of the times’, to know what the microfinance subsector ought to do to be sustainable.”

The Programmes Director, Mr Ossai Ilome, told News Express: “The Inclusive Finance Conference was conceptualised in 2015, to serve as a breeding ground for a new partnership, collaborative opportunities, and investment insight for operators in the microfinance sub-sector towards deepening financial inclusion.”

•Photo shows, from right; Representative of the Minister of State for Agriculture, Muyiwa Yusuf; Country Representative of International Fund for Agricultural Development, A Atsuko Toda; Chairman, Board of Trustees ANMFIN, Hon Daniel Ugbama; President of ANMFIN, Giwa Afolabi and Director of Development Finance Department, Central Bank of Nigeria, Mr Mudashiru Olaitan.

Source News Express

Posted 24/11/2016 8:41:26 PM





You may also like...
Hungary pledges to help end Boko Haram insurgency...

Igbo group explains origin of Nnamdi Kanu sex...

World Bank grants N70m to 7 Enugu communities...

EFCC arrests Jonathan’s godson

Second Niger Bridge: FG votes N2bn for compensation...

Graduate nurses berate FG over neglect

Akwa Ibom royal fathers reiterate support for Governor...

Britain distances self from agitations to divide Nigeria...

Lagos vows to ensure efficient, safe water transportation...


Buhari restates commitment to defeat Boko Haram, seeks...

Abe Media Team chides Rivers PDP Chairman, says...


Latest News Plane loses tyre while landing in Lagos Airport We’re not on vendetta mission, ISOPADEC Probe Panel assures workers MRA condemns police shooting of Channels TV journalist during Shiite protests, calls for independent inquiry AbdulRazaq congratulates Kwara ministerial nominees, Lokpobiri hails Sylva Railway group hails Amaechi’s re-nomination as Minister UBA’s REDTV to light up #UBAmarketplace 2019 with creative panel sessions, fashion shows, cinema, concert Pandemonium as man falls to death in court Ministerial list: Buhari's strategy to distract Nigerians – Atiku’s spokesman Bandits ambush, kill two NAF personnel Screening of ministerial nominees begins on Wednesday, says Lawan El-Zakzaky: Adesina explains why presidency didn't obey court's order Ministerial list: The 13 ex-ministers who lost out


Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (511,887 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (432,152 views) Shameless Genevieve Nnaji exposes breasts in public (374,324 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (317,250 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (283,146 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (247,587 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (239,969 views) 10 cars more expensive than Jets (225,152 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (221,752 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (209,297 views) Lagos plane crash: Journalist releases victims’ names (188,820 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (187,399 views)


NLNG Job Vacancy

CBN banner advert

UBA Wise Savers Promo


Categories Advertorials (3) African Press Organisation (81) Art & Literature (97) Business & Economy (4,359) Business Verdict (77) Columnists (1,076) Complaints & Requests (95) Enterprise & Opportunities (211) Entertainment (637) Features (781) Global Business Monitor (396) ICT Monitor (54) International (3,742) Interview (194) Live Commentary (30) Love Matters (164) Maggie's Blog (346) News (49,000) Opinion (1,293) Pidgin (17) Politics (11,185) Religion (1,053) Sports (2,107) Stock Watch (39) AMA & Al Jazeera Global Update







APO Group Partner




GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera