Information available on the CBN website shows that there are about 916 licensed microfinance banks in Nigeria. These banks provide essential financial services (such as savings, lending, domestic fund transfers, etc.) to low-income earners, the unbanked and under-served groups like market women and unemployed youths.
For a very populous country like Nigeria where only 64% of the adult population are financially-included, these microfinance banks clearly have their job well cut out for them. Interestingly, quite a number of them are doing a fantastic job serving the Nigerian public.
In this special report, we shall be looking at the top 10 Nigerian microfinance banks that have set the pace and are now holding the ace. Among the yardsticks used to determine the top 10 best MFBs are efficient service delivery, innovation and customer satisfaction. See the list below:
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