The Central Bank of Nigeria (CBN), said plans are ongoing to take the funding of small enterprises a little higher by getting customers interest in the recent N200 billion Micro, Small and Medium Enterprises Development Fund (MSMEDF).
Arising from its Bankers’ Committee meeting in Abuja, it expressed worries that small and medium businesses do not have the adequate financing needed to play the required development trajectory role.
Addressing newsmen shortly after the meeting, the Group CEO/ Managing Director, Zenith Bank, Peter Amamgbo said some of the planned initiatives to get people show interest in the fund include; establishing a mobile collateral registrar where small particularly retail customers can register movable assets as collateral or security instrument to secure loans from banks.
He said, the movable assets which will represent house assets as the case may be will make customers to be interested in the policy.
He further said that the initiative takes care of all interest parties both the bankers and customer’s interests, and that the mobile collateral registrar will be electronic monitored by any customers within the country even if you are in the rural area because it provide data base for all customers.
It will be recalled that CBN in order to unlock the potential of Nigerian MSMEs last July initiated the N220 billion funds as an innovative way of improving their access to finance; shoring up their potentials for job creation, and enabling them reduce poverty within the country. MSMEs are globally recognized as the critical engines of economic growth due to their potential to create jobs, boost production, generate income, and reduce poverty.
Speaking on the Banks Verification Identity, BVI Scheme, Group Managing Director/ CEO, Stanbic IBTC Mr. Yinka Sani said that the scheme is aimed at reducing the risk in customers’ accounts.
According to him, “it mitigates risks to customers, provides easy access to lending and wants customers to visit banks and ensure that their data are taken”.
He said that the initiatives also provides customers window of opportunities to forward complain when the need arises. He also added that the response to BVI is strong and it would end by the end of the year.
Other aspect that was unfold to the media was the charges on ATM of N65, that the charges is effective when a customers used the machine thrice and no charges is effective when a customer use it banker ATM.
On the POS it was disclosed that no charges is charged on it because it was electronic payment. The bank committee emphasized that where a bank charges on POS such a customer is to write to the designated bank and copy the CBN for action.