THE IMPACT OF MICROFINANCE BANKS IN POVERTY REDUCTION
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- NGN 3000
ABSTRACT
Poverty reduction is a function of many factors which include funding by microfinance banks. The effort to transform innovations into economic goods certainly would require reasonable level of funding which appears elusive due to global economic recession. Accessing credit from conventional money deposit banks has proved irrational due to its attendant cost, hence the need for micro financing which is deliberate initiative to enhance the performance and sustenance of poverty reduction. This study therefore investigated the impact of microfinance banks in poverty reduction with a survey of two hundred sampled population. Data collected with a well-structured questionnaire was analysed with descriptive statistics while hypothesis formulated was tested with correlation analysis.
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