By Jabiru Hassan, Kano.
Kano Youth economic Group has called on governor Abba Kabir Yusuf to investigates all monetary transactions that were carried out by the state owned Microfinance banks in order to ensure that they have makes good impacts to the state’s economic progress.
Speaking in an interview with our correspondent in kano, the group’s secretary general, Alhaji Usman Adamu faults most of the microfinance banks for failing to meet the demands of the residents, despite that MFB’s were established to improve the economic progress of the people and to bring financial institution very close to the residents at both rural and urban areas especially at present when the economic situation is changing gradually.
He noted that kano state government has done a commendable efforts in the establishment of additional banks in the state due to ensure that kano citizens benefits from soft loans in order to boost their small and medium scale trades but some of such MFB’s is not doing what is expected from them.
” if you ask people about the services of kano Microfinance banks, many people would surprise you on how the Kano Microfinance Banks disbursed loans without due process, and from what we observe, the banks have politicise their services so as to please the politicians that are around the bank’s catchment areas, but it is good for the present administration to probe the activities of all the MFB’s by constituting of a high powered committee in order to bring out real facts about what had happened since the establishment of the Banks.
Daybreak news had a chat with a senior staff working with one of the kano government’s owned microfinance bank on the condition of anonymity where he said that” certainly most of the MFB’S are working out of the regulations that were introduced by kano government, and if you trace the transactions, you will see that majority of those who benefited from the loans are not those who were recommended to collect it, so there is a great challenge in this regard”.
Our correspondent who interviewed some people that applied for loans told Daybreak news that ” we have applied for little amount the loan were denied severally despite that we are making petty trades in our communities, but we always saw top ranking politicians collecting the money for their personal uses which is a slap to MFB’S ,so we are calling on the kano state government to prove and investigates all monetary transactions that were carried out by all MFB’S to ascertain their performance “. He concluded.
