Afolabi stated that ANMFIN has recorded tremendous inroad in advocacy to ensure access to CBN’s MSME Development Fund adding that CBN reduced the collateral for accessing the fund from 75 per cent to 30 per cent and this has increased members’ access to the fund to over 200 per cent.
He said: “However, a further reduction in the fund to the collateral requirement from 39 per cent to 15 per cent will further increase access to finance by the rural populace.”
He hailed the ANMFIN Secretariat for demonstrating competence and capability in 2015 which made the association to attain great heights within the period under review while explaining that through the efforts of the secretariat, ANMFIN innovative Micro Finance business application for operators was running and receiving accolades from regulators, operators and members alike.
He said presently, 13 MFIs have secured the Nigeria Incentive Based Risk Sharing System for Agricultural Lending guarantee cover.
