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2014 | 5 | 92--113
Tytuł artykułu

The Impact of Nigeria Microfinance Banks on Poverty Reduction : Imo State Experience

Treść / Zawartość
Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
This paper attempts to provide a critical appraisal of the debate on the effectiveness of microfinance as an effective tool for eradicating poverty and also the history of microfinance banks in Nigeria. It argues that while microfinance has developed some innovative management and business strategies, its impact on poverty reduction remains in doubt. Micro finance impact on poverty reduction in Imo state was studied by a stratified sampling method in the selection of the customers. The study area was divided into 16 sample units based on the various local government areas in Imo state. Four (4) MFBs were purposefully selected from each of the 3 Senatorial Zones, making a total of 12 MFBs. In order to have unbiased selection of samples, Three Hundred and eighty two questionnaires (382) were randomly distributed to customers of these selected microfinance Banks in the three senatorial Zones as follows, namely: Owerri (82), Okigwe (100) and Orlu (200). The result revealed that majority of respondents were male constituting about 78 % while women 22 % and majority of the respondents were married (65 %), single (33 %) divorced (2 % ). 137 of the respondents do not have any formal education, 67 possess primary school leaving certificate. 81 indicated having secondary school certificate. 71 with diploma / NCE and its equivalent. 28 of them have first degree certificate and above representing 36 %, 17 %, 21 %, 19 % and 7 % respectively. The monthly income brackets of the respondents show that One hundred and eleven (111) respondents (29 %) indicated earning ₦10,000 N15,000, 95 respondents or 25 % indicated ₦15,001 - ₦20,000 as their income bracket, 94 or 24 % were earning above ₦20,000, while 84 (22 %) indicated earning below ₦10,000. From the result, high income class has more capacity to save than poor dwelling in rural areas. The finding appears to support the predication of Economics theory of savings which argues that saving is a function of the level of income. The implication of this study is that the federal government of Nigeria and financial institutions in the country should take up the challenge of establishing bank branches in the rural areas or make formidable arrangement for supplying more credit to the rural dwellers. (original abstract)
Rocznik
Tom
5
Strony
92--113
Opis fizyczny
Twórcy
  • Alvan Ikoku Federal College of Education, Owerri, Imo State, Nigeria
  • Alvan Ikoku Federal College of Education, Owerri, Imo State, Nigeria
  • Alvan Ikoku Federal College of Education, Owerri, Imo State, Nigeria
Bibliografia
  • [1] Adjei J. K., Arun T., Hossain F. (2009). The role of microfinance in asset building and poverty reduction: the case of Sinapi Aba Trust of Ghana. Manchester: Brooks World Poverty Institute.
  • [2] Ashraf N., Gine X., Karlan D. (2008). Finding missing markets (and a disturbing epilogue): evidence from an export crop adoption and marketing intervention in Kenya. Policy Research Working Paper 4477. Washington, DC: The World Bank Development Research Group.
  • [3] Banerjee A., Duflo E., Glennerster R., Kinnan C. (2009). "The Miracle of Microfinance? Evidence from a Randomised Evaluation" Department of Economics, Massachusetts Institute of Technology (MIT) Working Paper, May.
  • [4] Brau J. C., Woller G. M., Journal of Entrepreneurial Finance and Business Ventures 9(1) (2004) 1-26.
  • [5] Central Bank of Nigeria (2005). Microfinance Policy, Regulatory and Supervisory Framework for Nigeria. Abuja, December.
  • [6] Chowdhury A. (2009). Microfinance as a Poverty Reduction Tool; A Critical Assessment. DESA Working Paper No. 89ST/ESA/2009/DWP/89 December.
  • [7] Hulme D. (1997). Impact assessment methodologies for microfinance: a review. CGAP Working Group Impact Assessment Methodologies: Report of Virtual Meeting (mimeo).
  • [8] Hulme D., World Development 28(1) (2000) 79-88.
  • [9] Hulme D., Mosley P. (1996). Finance Against Poverty. Routledge, London.
  • [10] IPAR (2007). Poverty Reduction through Enhance Access to Financial Service: Case study of Botswana. Kenya and Namibia. Occasional paper No. 010/2007.
  • [11] Makina D., Malobola L. M., Development Southern Africa 21(5) (2004) 799-814.
  • [12] Microsoft Corporation (2009). Microsoft Encarta Premium Suite 2009 (Software).
  • [13] Ministry of Land Survey and Urban Planning (1992). Area of Imo State by LGA, Government Printer, Owerri.
  • [14] National Bureau of Statistics (NBS) (2007). Provisional of State and Local Government Totals of the 2006 Population Census of the Federal Republic of Nigeria. www.nigerianstat.gov.ng
  • [15] Report of United Nations (1995). Information is available www.laghuudyog.com/schemes/microfinance.htm
  • [16] Roodman D., Morduch J. (2009). The impact of micro-credit on the poor in Bangladesh: revisiting the evidence (Working paper no 174). Washington DC: Centre for Global Development.
  • [17] Sebstad J., Cohen M. (2000). Microfinance, risk management and poverty. Synthesis report. Washington, DC: AIMS.
  • [18] Soludo C. C. (2008). Financing Imo State towards Greatness. Public Lecture delivered to mark the one year anniversary of the Executive Governor of Imo State, Chief Ikedi Ohakim: Imo Concorde Hotel, Owerri May 27.
  • [19] Westover J. (2008). The record of microfinance: the effectiveness/ineffectiveness of microfinance programs as a means of alleviating poverty. Electronic Journal of Sociology. http://www.sociology.org/content/2008/_westover_finance.pdf
  • [20] World Bank (2007). Finance for all? Policies and pitfalls in expanding access. Washington DC: World Bank.
  • [21] Yahaya K. A., Osemene O. F., Abdulraheem A., Global Journal of Management and Business Research 11(4) (2011) Version 1.0 March.
  • [22] Tomáš Hes, Anna Poledňáková, International Letters of Social and Humanistic Sciences 2 (2013) 18-31.
  • [23] Taiwo Adewale Muritala, Ismail O. Fasanya, International Letters of Social and Humanistic Sciences 2 (2013) 39-50.
  • [24] Mohsen Mehrara, Maysam Musai, International Letters of Social and Humanistic Sciences 5 (2013) 55-62.
  • [25] Petter Gottschalk, Lars Glasø, International Letters of Social and Humanistic Sciences 5 (2013) 63-78.
  • [26] Goran Rajović, Jelisavka Bulatović, International Letters of Social and Humanistic Sciences 6 (2013) 49-61.
  • [27] Bahram Meihami, Zeinab Varmaghani, Hussein Meihami, Mohammad Khaledian, International Letters of Social and Humanistic Sciences 7 (2013) 33-42.
  • [28] Tomáš Hes, Alena Neradová, Karel Srnec, International Letters of Social and Humanistic Sciences 7 (2013) 55-75.
  • [29] Tomáš Hes, Alena Neradová, Karel Srnec, International Letters of Social and Humanistic Sciences 7 (2013) 76-85.
  • [30] Kinga Dziwańska, International Letters of Social and Humanistic Sciences 7 (2013) 96-112.
  • [31] Jacek Tittenbrun, International Letters of Social and Humanistic Sciences 11 (2013) 10-34.
  • [32] Philip Usman Akor, Julie Udensi, International Letters of Social and Humanistic Sciences 2 (2014) 97-109.
  • [33] Adoga James Ada, International Letters of Social and Humanistic Sciences 3 (2014) 45-52.
  • [34] Bahram Meihami, Hussein Meihami, International Letters of Social and Humanistic Sciences 3 (2014) 80-91.
  • [35] Jacek Tittenbrun, International Letters of Social and Humanistic Sciences 2 (2014) 20-40.
Typ dokumentu
Bibliografia
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Identyfikator YADDA
bwmeta1.element.ekon-element-000171337589

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