A Study on the Types of Microfinance Institutions in Nigeria

Nasir Liman, Mohd Khairuddin Hashim, Darwina Arshad

Abstract


Microfinance institutions (MFIs) are considered important financial institutions in Nigeria. These institutions contribute significantly to the country’s economic as well as social development. Surprisingly, despite their important role, there is little research as well as information on the nature of MFIs in Nigeria, in particular with regard to the types of MFIs found in the country. In an attempt to narrow the information and research gaps in the area of MFIs, this study examines the different types of MFIs operating in Nigeria. The data for the study was collected from 121 MFIs through questionnaires. The results of the analysis of the data indicate that there are not only five specific types of MFIs in Nigeria but also they differ from each other in terms of their ownership, organizational characteristics and lending practices.


Full Text:

PDF

References


M. Yunus, Creating a World without Poverty: Social Business and the Future of Capitalism (PublicAffairs, 2007).

M. Yunus, Banker to the Poor- Micro-Lending and the Battle against World Poverty (Penguin Books India, 1998).

K. Shukran and F. Rahman, J. Emerg. Mark. 2, 47 (2011).

H. Tadele and P. M. S. Rao, J. Bus. Manag. Soc. Sci. Res. 3, 21 (2014).

Z. . Amoo and I. O. Kolawole, J. Bank. Financ. 6, 35 (2015).

W. E. Chinasa, Res. J. Financ. Account. 4, 6 (2015).

G. D. Paul and S. Y. Emesuanwu Catherine Ebelechukwu, Int. J. Humanit. Soc. Sci. Educ. 2, (2015).

E. E. Ene and U. A. Inemesit, J. Bus. Ethics 3, 139 (2015).

H. Abraham and I. . Balogun, Int. J. Humanit. Soc. Sci. 2, 32 (2012).

H. Tadele and P. M. S. Rao, J. Bus. Manag. Soc. Sci. Res. 3, (2014).

N. Kamukama, A. Ahiauzu, and J. M. Ntayi, J. Intellect. Cap. 11, 554 (2010).

M. Umar, Z. Tanveer, S. Aslam, and M. Sajid, Res. J. Financ. Account. 3, 1 (2012).

D. Augustine, C. O. Wheat, K. S. Jones, M. Baraldi, and C. A. Malgwi, Can. J. Acad. Sci. (2016).

B. D’Espalliera, J. Goedeckea, M. Hudonb, and R. Mersland, World Dev. 89, 19 (2017).

R. Servin, R. Lensink, and M. van den Berg, J. Bank. Financ. 36, 2136 (2012).

A. Vanroose and B. D’Espallier, Appl. Econ. 45, 1965 (2013).

G. T. Abate, C. Borzaga, and K. Getnet, SSRN Electron. J. 33, (2014).

A. Duqi and G. Torluccio, J. Bank. Financ. 3, 1 (2014).

R. A. Johnson and D. W. Greening, Acad. Manag. J. 42, 564 (1999).

S. S. A. Al-Shami, A. Majid, I. Bin, N. A. Rashid, B. A. Hamid, and M. S. Rizal, Asian Soc. Sci. 1, (2014).

Businessnewsdaily, (2013).

O. Kodongo and L. G. Kendi, Rev. Dev. Financ. 3, 99 (2013).

R. Rahman and Q. Nie, Int. J. Econ. Financ. 3, p207 (2011).

D. Hulme, Manchester Brooks World Poverty Inst. (2008).

M. A. Chaudhary and M. Ishfaq, J. Behav. Exp. Econ. 32, 675 (2003).

P. R. Chowdhury, J. Dev. Econ. 77, 415 (2005).

B. Armendáriz de Aghion, J. Dev. Econ. 60, 79 (1999).

A. V. Banerjee, T. Besley, and T. W. Guinnane, Q. J. Econ. 109, (1994).

S. H. Mokhtar, (2011).

A. Park and C. Ren, World Dev. 29, 39 (2001).

J. Morduch, World Dev. 28, 617 (2000).

C. M. Anyanwu, J. Bank. Financ. 4, 1 (2004).

R. Mersland and R. ystein Strm, J. Bank. Financ. 33, 662 (2009).


Refbacks

  • There are currently no refbacks.


MAYFEB Journal of Business and Management
MAYFEB TECHNOLOGY DEVELOPMENT
Toronto, Ontario, Canada
ISSN 2371-7742