CIBN Launches MSME Initiative to Boost Economic Growth

The Chartered Institute of Bankers of Nigeria (CIBN), under the leadership of President and Chairman of Council Dr Dele Alabi, is launching a strategic initiative aimed at ensuring that macroeconomic gains benefit the real economy and ordinary households. This initiative was announced during the 2026 Stream II Chartered Bankers Induction and Prize Awards Day in Lagos.

Alabi emphasized the need to strengthen Micro, Small, and Medium Enterprises (MSMEs) as a means to facilitate economic growth and improve living conditions for citizens. CIBN plans to establish dedicated MSME clinics and hubs in partnership with state governments, moving bank financing beyond large corporations to support smaller businesses.

The rollout will begin with a national MSME forum at the end of the year, followed by sector-specific diagnostic clinics in early 2027 to address operational challenges faced by MSMEs. Alabi noted that MSMEs contribute approximately 46% of Nigeria's GDP and are crucial for national employment and business operations.