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BACK TO OFFICE REPORT: OFFICIAL LAUNCHING OF THE APEX ORGANIZATION FOR UNLICENSED MICRO FINANCE INSTITUTIONS (MFIs) FOR

NORTH CENTRAL ZONE IN CENTRAL BANK OF NIGERIA CONFERENCE HALL, MINNA NIGER STATE ON 28TH JULY, 2010.
1.0 Introduction The Shortage of finance has continued to limit the ability of rural people to make profitable economic investments, hence addressing the rural finance problems would enable rural people to make investments and contribute to national growth and development. Therefore, in view of several interventions towards addressing the rural financing limitations, the need for the formation of Apex body for the unlicensed Microfinance Institutions (MFIs) becomes paramount. The unlicensed Microfinance Institutions (MFIs)- e.g Cooperative & Credit Societies; MFI-NGOs; Village Saving Groups etc) are the grass-root financial and credit service providers. And it has been established that, majority of the rural populace are the beneficiaries of such services. The Apex body when in place would play a major role in supervision and regulation of the activities of its member associations. The official launching of the Apex organization for MFIs in North Central zone was well attended. Not less than 60 participants from the seven states (FCT, Plateau, Niger, Kwara, Kogi, Benue and Nasarawa) that make up the zone attended the ceremony. The launching ceremony started about 10a.m . The Rural Finance Institution Building Programme (RUFIN), which is Federal Government of Nigeria (FGN) programme funded by International Fund for Agricultural Development (IFAD) was ably represented at the ceremony by Miss Saadatu Abubakar and Mr Taiwo Agboola, Technical Assistants to Training/Capacity building and Monitoring & Evaluation Specialists respectively. The RUFIN programme which core objective is to strengthen microfinance institutions (MFIs) and establish linkages between these institutions and other financial institutions in order to create a viable and sustainable rural financial system in Nigeria collaborates with Central Bank of Nigeria (CBN) to facilitate the official launching of the Apex organization for unlicensed MFIs in the zone. The CBN is one of the four core participating institutions in RUFIN programme implementation. 2.0 Opening Remarks The opening remark was said by the Branch Comptroller, CBN, Niger State branch. The Branch Comptroller in his remarks stated that it was needful for the MFIs to organise themselves so that the clients would build confidence in MFI and the house itself can weed out bad eggs in the system. Also, he enjoined the participants to make landmark in voting credible leaders for the Apex Organization during the election for the seventeen (17) key positions. 1

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Technical Session The Chairman of the technical session was Mr A. Attah, Assistant Director, Development Finance Department, CBN, Abuja. Two papers were presented which focused on State of Microfinance Practise in Nigeria and The Need for the Apex Association for the MFIs. Election and Launching The election was carried out in the presence of other members of MFIs from various states. The State Apexes of the MFIs nominated three (3) representatives who were the delegates to vote and be voted for. Therefore, this approach produced twenty-one (21) delegates who vied for the seventeen vacant posts in the North Zone Apex organization for the MFIs. The election process produced seventeen (17) executive officers for the North Central zone Apex body for the MFI. (Find attached detail listing of the Executive members) North Central Apex Organization Presidents Inaugural Speech The elected president of the North Central zone Apex organization for MFI, Alhaji Hamid Afolabi, who also is the chairman Kwara Cooperative Federation pledged his unswerving loyalty to the dedication and commitment the office would entails and solicited for the support of the other executive officers to build a virile zonal Apex body. Closing The vote of thanks was said by Mr Wale, a participant from FCT. While the ceremony came to an end at about 4p.m.

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LIST OF EXECUTIVE OFFICERS FOR THE APEX ORGANIZATIONATION OF UNLICENSED MICRO-FINANCE INSTITUTIONS (MFIs) FOR NORTH CENTRAL ZONE (ABUJA, PLATEAU, NIGER, KWARA, KOGI, BENUE AND NASARAWA STATES)

POST
President

NAME
Alh. Hamid G. Afolabi

ORGANIZATN.
Kwara Coop. Federation limited. Benue Coop. Federation. Glasha Micro Finance Eagles MPC ltd Niger Coop. Thrift& Credit Association. Niger Coop. Thrift& Credit Association. CFN Kogi Urban Ministry(NGO). Jos

STATE
Kwara Benue Nasarawa FCT Niger

E-MAIL
kwascofed@yahoo.com abakaakor@yahoo.com aminsticool07@yahoo.co.uk godblesssafu@yahoo.co.uk jagab@yahoo.com

TEL.NO.
08033742013 08057183128 08037882286 08036048403 08056055429

Vice President (1) Hon. Emmanuel A. Akor Vice President (2) Haj. Aishat Mbaka Secretary Assistant Sec. Godbless Safugha Jagaba Shuaib .T.

Treasurer

Haj. Hassaina Mohd

Niger

hassanad@yahoo.com

08065647992

Financial Sec. PRO (1)

Paul Adewumi Rev. Dr. Azi Samuel

Kogi Plateau

samizang@yahoo.com

08079479317 07032317671

PRO (2) Auditor Ex Officio 1 Ex officio 2 Ex Officio 3 4

Anugwa Stella Ngozi Jafaru Sarki

Nwa Nnedina Mba Nas Coop. Federation. J. O. Osobu Kwara Fin. Agency Barr. Clement Iornongu Intercep Chris Osakwe Nobles Coop. Soc.

Abuja Nasarawa Kwara Plateau FCT

anugwa7@yahoo.com intercephud@yahoo.com aboglobe@yahoo.com

08033041152 08091093003 08033869881 08034746116 08026366921

POST
Ex Officio 4 Ex Officio 5 Ex Officio 6 Ex Officio 7

NAME
Yahaya .A. Idris Oita Emmanuel Ademu Alidu Emmanuel Adewo

ORGANIZATN.
Niger Coop. Soc. Femak Consult Nig. CFN -

STATE
Niger Benue Kogi Nasarawa .

E-MAIL
femakconsulting@yahoo.com ernestheart@yahoo.com -

TEL.NO.
08034536225 07038377233 08069617117 -