Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


CBN inaugurates 37 newly licenced Micro-finance Banks

09 January 2013, 09:09

Kano - The Central Bank of Nigeria (CBN) has granted licence to Kano State Government to establish 37 micro-finance banks in the state.

The governor of CBN, Sanusi Lamido Sanusi, made this known during the inauguration of the 37 banks in Kano on Tuesday.

``Kano State has made history as the first state in the country to benefit from the CBN’s gesture of being granted licence for the establishment of 37 Micro-Finance Banks at a stretch,’’ he said.

Sanusi explained that the CBN decided to relax the guidelines for the establishment of Micro-Finance banks for Kano State because of the government efforts to empower women and youths in the state.

He advised the people of the state to take advantage of the Micro-Finance banks to establish their small and medium scale businesses. In his remarks, Gov. Rabi’u Kwankwaso, said the banks were established in collaboration with the local governments to give rural dwellers the opportunity to boost economic activities.

He said that 10 local government areas in the state did not have commercial banks. Kwankwaso commended the CBN for granting the licence and thanked all those who contributed to make the dream of establishing the banks a reality.

He said that the establishment of the banks would provide employment opportunities to no fewer than 700 Kano indigenes.

The governor said his administration would do everything possible to sustain the 37 Micro-finance Banks.



Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...