By Goodluck Ikiebe.
As part of efforts to resolve the bottlenecks faced by MSME’s operators in getting loan facilities, plans are underway to float an MSME’s bank to assist small and medium Entreprises.
The National President of the Forum, Alhaji Ibrahim Gusau, who spoke in an exclusive interview to review the outcome of the Second strategic planning meeting in Abuja, said it’s an idea worth looking into as members will be able to access some of the loan facilities they want for their businesses.
“In the recent study by the National Bureau of Statistics, we have nothing less than 40 to 50 million SME’s operators in Nigeria. If we are able to get them to own the bank, they will be empowered to employ two or three people, which in turn through multiplier effect, can generate quantum of jobs for Nigerians” he assured.
Alhaji Gusau explained that, if they can also subscribe to the bank by paying one to three thousand naira, when you add all these, that can give us the initial capital to set up the MSME’s bank.
He stated, we can’t do this without the support of the Central Bank of Nigeria, so, we have to talk to them. We have a working document already and we have been meeting key institutions like RMRDC, SMEDAN, UNIDO, JAIZ and DBN, to sensitive them for a collaborative engagement to assist us in the establishment of the bank.
On the issue of Collateral for loan facilities, Alhaji Gusau noted that banks are now mandated to accept radio or valuable wristwatch as collateral unlike those days that you have to provide a house in Abuja, Lagos or Port Harcourt.
He said that on products standardisation, we have some institutions set up to ensure standard like NAFDAC, SON, NINAS, which I was involved in the setting up to ensure that quality is maintained and standardized.
Alhaji Ibrahim Garba commended the federal government for its financial inclusiveness, which allows POS facilities to operate everywhere , thereby reducing the pressure from Banks.
The second Strategic Planning Meeting of the MSME’s was adjudged successful with a good record of attendance by BMO’s.
