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Sokoto to establish more micro-finance banks

03 March 2014, 15:42

Sokoto - The Sokoto State Government plans to establish more micro-finance banks to promote economic empowerment of the masses.

Governor Aliyu Wamakko announced this in Sokoto at the 2013 Bankers' Committee Dinner and Award Night.

According to the governor, micro-finance has proven to be a vibrant tool to improve the living standards of the people, especially those at the grassroots.

“The few ones operating in Gwadabawa, Yabo, Sokoto, Goronyo and others are really helping in revamping the rural economies,’’ Wamakko said.

Wamakko expressed happiness with the mode of operation of all commercial and deposit banks in the state.

"The banks have been operating in the most decent and transparent manner and executing various corporate social responsibility projects.

“They should sustain the tempo and the state government would continue to partner with them to further improve the living standards of the people,’’ the governor said.

Wamakko promised to protect all the public structures that had been renovated by the banks.

Also speaking, the Branch Controller of the Central Bank of Nigeria (CBN) in the state, Mohammed Idris, said the apex bank's cashless policy will officially take off nationwide on July 1.

Idris commended the Sokoto state government and the security agencies in the state for ``providing environment conducive and peaceful to carry our operations."

 The highlight of the event was the conferment of an award on the Sultan of Sokoto, Sa'ad Abubakar III by the Sokoto Bankers' Committee.

The award is in appreciation of the contributions of the Sultan in maintaining peaceful co-existence in the state and the country in general.

-    NAN

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