Nigerian central bank to set up national micro-lender

godwin-emefiele
Godwin Emefiele

Nigeria’s central bank will establish a national micro-finance institution, while a leading presidential candidate has said he will not give the current governor a second term.

Central Bank of Nigeria governor Godwin Emefiele announced plans to set up a lender with a mandate to make micro-loans to small businesses and individuals. The micro-lender would help boost Nigera’s very low financial inclusion rates, Emefiele told a conference in Abuja on January 17, local publication Today reported.

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