Central Bank of Nigeria
Microfinance, Poverty Reduction
The paper established the facts that poverty is indeed increasing in Nigeria based on the poverty assessment study commissioned and sponsored by the World Bank in 1995. It further indicated in the introduction that the World Bank and the IMF group are focusing on poverty reduction as a prerequisite for debt relief The paper is structured into five sections with introduction being section one. Section two gives conceptual framework and reviews some country experiences of microcredit programs. Section three describes the efforts put in place in Nigeria-the World Bank group efforts and the IMF to alleviate poverty while section four offers ,the micro-finance model and principles, that could be adapted in Nigeria considering the Nigerian experience on financial intermediation. Section five concludes the paper. In the conclusion, the paper emphasized that indeed microfinance is a strategy of poverty reduction.
CBN Economic and Financial Review
Akanji, O. O. (2001). Micro Finance as a Strategy for Poverty Reduction. CBN Economic and Financial Review. 39(4), 111-134.