Originally published: 18 April 2008
Source: Vanguard
The Lagos state government in Nigeria is planning to introduce a bill to boost microfinance banks in the state and help empower the majority of Nigerians living below the poverty line.
Speaking in Lagos during the commissioning of Berachah Micro-Finance Bank Limited, Prince Rotimi Agunsoye, Lagos State Commissioner of Local Government and Chieftaincy Affairs, said that the bill, which seeks to help in the drive of the state government to alleviate poverty, has already been sent to the states national assembly, and is awaiting deliberations and passage.
He noted that the bill will make it compulsory for all local governments in the state to contribute no less than 1% of their allocations to the operations of the microfinance banks in the state.
Read the complete article: Lagos Set to Introduce Bill on Micro-finance Bank (Vanguard)