Microfinance Banks' Balance Sheets Reach N6 Trillion

At the 16th Annual General Meeting (AGM) of the National Association of Microfinance Banks (NAMB) in Abuja, President Dr. Adenrele Oni announced that the balance sheets of microfinance banks have reached N6 trillion over the past five years.

He urged the Federal Government and the Central Bank of Nigeria (CBN) to provide more intervention funds and create a supportive regulatory environment. As of March 2026, the sector's loan portfolio was N2.4 trillion, with total deposits at approximately N4.3 trillion, indicating growing public confidence in microfinance institutions.

Oni emphasized the sector's role in supporting government reforms aimed at economic transformation, financial inclusion, and poverty alleviation. He advocated for increased intervention funds to enable affordable lending to businesses and low-income Nigerians, thus stimulating economic activities.

Additionally, Oni called for a more business-friendly regulatory framework to enhance financial inclusion and job creation. Outgoing President Alhaji Abubakar Ahmad noted the progress made through collaboration with the CBN and other partners.