The Women Group of the Nigerian Association of Chamber of Commerce, Industry, Mines and Agriculture otherwise known as NAWORG has urged the Federal Government to create a special bank to cater for the business needs of  women.

The Vice President of NACCIMA and chairperson of NAWORG, Mrs Alaba Lawson made the call recently in Lagos at the launching of the Federation of Business Women Enterprenuers in Nigeria  (FEBWE) and posted in the website.

Mrs Lawson said the endless list of collateral requirements often demanded by banks is making it very difficult for women to engage in business transactions, adding that, often times, the resources needed from women are so outrageous that they get discouraged with the long list of collateral needs.

She advocated that collateral requirements by banks should be relaxed for women because already they have more credible collateral which she said is their home, which they cannot afford to toy with.

Based on all the bottlenecks women have had to contend with in the process of getting fund from banks, Lawson stressed the need to have women banks similar to what operates in Bangladesh and India where women have their own banks to assist them in their respective business.

On why FEBWE was established, the chairperson said it remained a well known fact that women enterprenueurs face a lot of difficulties  and challenges while doing business to enhance their roles in creating wealth.

“It is in view of this that ECOWAS/FEBWE was established in July 2009 in Ghana. This body has served as a common platform for women economic operators in the West African sub-region. The contribution of ECOWAS/FEBWE allows for member states to set up a similar body in their respective countries,” she noted.