Financial Service Providers and Regulators

Boulder Training

Microfinance is one of the entry points to access formal financial services for the unbanked. To acquire potential customers, microfinance banks/institutions need to identify sustainable and innovative ways to provide a broad range of financial products that serve the needs of the low income population.

Microfinance

Increasing access to financial services and therefore enhancing financial inclusion, especially for those in the poorest segment of society has been proven to be a key driver in economic growth and wealth creation. Nigeria must reduce financial exclusion as part of a holistic approach to development. The benefits, for those at the base of the pyramid, as well as for the nation, could be very significant.

Non-interest Finance Working Group (NIFWG)

In October 2009, EFInA established the Non-interest Finance Working Group (NIFWG) in order to identify and address regulatory and market related issues to ensure the successful implementation of non-interest banking/finance in Nigeria. NIFWG members included market operators and regulators who worked together to drive a multi-institutional approach to implementing non-interest banking/finance in Nigeria.