The Central Bank of Nigeria (CBN) has given Governor Emmanuel Uduaghan of Delta State the country’s microfinance award. Governor Uduaghan received the award because his state’s microfinance initiative has seen the most promising results. The award was presented by Goodluck Jonathan, the Vice President of Nigeria, who argued that the key issue in microfinance is the competence of actors involved in the industry.
“These awards are dedicated to the poor people of Delta State who have accepted the state’s micro finance programme to better their lives. Micro financing can be a solution to the Niger Delta problem for it could provide sustainable economic growth to improve lives. Economic growth reduces hunger which in turn wipes out anger which is at the root of the crises in the Niger Delta region,” said Governor Uduaghan.
By Jay Kumar, Research Assistant
About Central Bank of Nigeria:
Central Bank of Nigeria (CBN) is Nigeria’s central banking authority, established in 1958. Some of the regulatory objectives of CBN as follows: to issue legal tender, to maintain the external reserves of the country, to promote monetary stability and a sound financial environment, and to act as a banker of last resort and financial adviser to the federal government.
Additional Resources:
1.) http://www.vanguardngr.com/2010/01/21/uduaghan-bags-cbn%E2%80%99s-micro-…
2.) https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Central+Bank+of+Nigeria+(CBN)
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