Microfinance Banks (MFBs) have been asked to consider issuance of bond as an alternative source of raising funds.
Stakeholders who gathered at the weekend at a seminar marking the 10th year anniversary of Accion Microfinance Bank believe that the N20 minimum capital requirement is not enough yo serve about 13 million customers of Microfinance banks.
In the policy framework for Microfinance banks, the Central Bank of Nigeria (CBN) classified MFBs into three categories with correspondent capital requirement.
They are unit MFB with N20 million minimum capital base, State MFB with N100 million and National MFB with N2 billion capital requirements.
