Cooperative societies operating under the Rural Finance Institution Building Programme (RUFIN), a programme of the
"When we started the people had no access to financial services; in 2011 we were able to facilitate over N47 million in the 12 states in terms of credit to the rural poor.
"As at June this year, access of the poor to rural financing is to the tune of over N6 billion; that is from formal banks.
"Traditionally, the people also engage in savings and credit within their groups and those savings and credits they also lend to their members although the value is low.
"In all the states when we started, those savings and credit businesses were at its lowest ebb.
"But we have been able to facilitate them and the savings and lending by now is to the tune of over N4 billion in all the 36 LGAs."
RUFIN's main objective is to build institutions and micro enterprises that enhance access of the rural poor to finance services for improved livelihood and empowerment.
The programme which runs for seven years spanning 2010 to 2016 is already in its fifth year.
It is operated with a
These states are Adamawa, Anambra, Akwa Ibom, Bauchi, Benue, Edo, Imo, Katsina,
Most Popular Stories
- Toxic Algae Threatens Florida Fishing, Tourism
- Hispanic Groups Lead Voter Registration Drive
- Fed Signals It Will Keep Key Rate at Record Low
- Eva Mendes Gives Birth to a Baby Girl
- Stocks Rise Before Fed Statement
- Occupy Wall Street Buys Up Student Debt
- FedEx Adding 50,000 Holiday Jobs
- Plus-Size iPhones Live Up to The Hype
- Cool Features on Today's New iOS 8
- Kohl's Hiring 67,000 for the Holidays