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Microfinance banks operators congratulate Ambode

Lagos - The Chairperson of National Association of Microfinance Banks (NAMB), Lagos Chapter, Clara Oloniniyi, on Monday congratulated Akinwunmi Ambode, Lagos State Governor-elect, on his victory at gubernatorial polls.

Oloniniyi said that microfinance banks operators in Lagos were delighted at Ambode’s victory.

"Certainly your willingness to volunteer your time and effort, as well as express your opinions, has contributed to your being elected," she said.

She urged the governor-elect to keep faith with making adequate loans avalaible for the growth of entrepreneurs, especially Micro, Small and Medium Enterprises (MEMEs’) operators in the state.

She pleaded that the governor-elect should route the loans through microfinance banks for effective and sustainable management.

"Don't forget those in microfinance banking industry who have been working relentlessly for poverty reduction in the country.

"It will be good to have a mayor in office who has made our industry a priority" she said.

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She also stressed

the need for Ambode’s administration to assist microfinance banks in the provision of needed infrastructure in the state.

"If the loans are given out at four per cent per month, how much do you think it will amount to in a month that the bank will realise enough profit to meet all the various expenses associated with the loan?

"We should all know that that the best panacea to realising objectives for establishing the banks is an aggressive advocacy for entrepreneurship spirit.

"But this spirit can only be gingered if those at the windows of powers are friendly to the banks.

"The era of finishing from school and the next step is for young graduates to be looking for a job should be over,” she said.

She also commended the incumbent governor, Babatunde Fashola for his support to the sub-sector.

She said that Fashola's administration had assisted microfinance banks in Lagos very well and operators hoped this would continue under Ambode's administration.

Category: Payday loans

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