Business
CBN Approves Microfinance Bank For Maritime Sector
The Central Bank of
Nigeria (CBN) has approved the floating of Microfiance Bank (MFB) for maritime workers comprising dockworkers, freight forwarders, truckers, and port workers.
Also to benefit in the MFB are staff of private companies and government organizations that have challenges accessing small loans.
According to the release, the bank would become operational by December 1st, 2014.
One of the Maritime Directors, Mr. Bolaji Akinola said that the establishment of Maritime MFB was a culmination of several years of research and team work by stakeholders of the industry.
Akinola said that the bank when operational would be an answer to the yearnings of the people, adding that the bank would offer soft loans to the maritime workers who could not access conventional loan services.
The director said the dream of the group is for the unit micro-bank to grow and evolve into a full fledge commercial bank, dedicated to the development of maritime industry.