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Published On: Tue, Apr 15th, 2014

Niger govt reviews activities of micro–finance banks

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From Yakubu Mustapha, Minna

Following the discovery that most of the Micro finance banks operating in the state are not performing up to their optimum, the Niger state government has begun moves to review their activities.

Not less than 29 micro finance banks are operating in the state with the government assisting them with takeoff fund of N50million each when they were established.

The Commissioner for Planning, Alhaji Mohammed Dansalau who made this known while addressing newsmen in Minna on Monday said the review being carried will enable government to ascertain their level of efficiency.

Alhaji Dansalau regretted that information available to government has shown that some of the micro finance banks have actually folded up while those directly established by the government were the ones functioning.

He blamed the situation on the economic situation and posture of the benefiting communities to the scheme, saying that government will not allow such a laudable programme to go into oblivion.

In the same vein he said government was not satisfied with the number of Small and Medium Scale Enterprises said to be existing in the state as such the state will carried out a census of the businesses with a view to knowing the actual number in order to allow proper planning for their growth to the state economy and determine the level of tax they have to pay to the government.

‘A Data bank is to be opened to enable government know the number of the businesses, it will also allow for effective tax policy’.

Alhaji Dansalau disclosed that the state government has established a BOI fund and set up a committee to assist potential businessmen and women on how to prepare a ‘good ‘ business proposal pointing out that government will assist such investors who are able to deposit 10% of the value of their proposed investment with the BOI.

The Commissioner also disclosed that government commercial agricultural loan scheme established two years ago has been able to disburse N1.2bn to farmers to boost their production.

On the implementation of the 2014 budget Alhaji Dansalau assured that now that the 1st quarter of the year has ended government will soon present to the public how the budget execution had fared.

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