ABSTRACT
This study researches into the Assessment of the Impacts of Microfinance Industry on the Development of the Rural Area in Nigeria, A Case Study of Gaa-Akanbi Micro Finance bank Ilorin. It examines the significant of micro finance bank in Nigeria. It was concluded that knowing the population of rural area is very low, with special reference to Gaa-Akanbi Micro Finance Bank.
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TABLE OF CONTENT
Title page
Certification
Dedication
Acknowledgement
Table of content
Abstract
CHAPTER ONE
INTRODUCTION
1.1 Background to the study
1.2 Statement of the problem
1.3 Aims and objectives of the study
1.4 Scope of the study
1.5 Limitation and constraints to the study
CHAPTER TWO
LITERATURE REVIEW
2.1 Conceptual issue in micro finance industry
2.2 Rational for the establishment of microfinance
2.3 Features of micro finance industry in Nigeria
2.4 Regulatory authority and audlines.
2.5 Meaning and feature of rural area
2.6 Rate of poverty in rural area
2.7 Reason for increasing rate of poverty in rural area
2.8 Impacts of micro finance bank towards eradicating poverty in rural area.
2.9 Problems of union banks in eradicating poverty.
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Data collection method/techniques
3.2 Data presentation and analysis method
3.3 Definition of population
3.4 Sample size and distribution
3.5 Sample selection
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS, SUMMARY CONCLUSION AND RECOMMENDATION,
4.1 Brief history of case study
4.2 Data presentation and analysis
4.3 Summary of findings
4.4 Conclusion
4.5 Recommendations
References
Appendix
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND TO THE STUDY
According to Banda M. (2002), micro finance industry is about providing finance service to the poor who are traditionally not serve by the conventional financial institution in Nigeria the formal financial system provides services to about 35% of economically active population which the remaining 65% are excluded from the access to financial services. The small and medium scale enterprises falls among the 6% who are not catered for financially. The financial need of most of these small and medium scale enterprises are catered for by the informal financial sector via non-government organization (NGO’s), friends, money under relatives as well as credit unions.
In order to enhance financial flow to the poor Nigerians who want to start up a small and medium scale business, the government has in the past initiated a series of publicly financed micro-credit programe and policies targeted at the poor. Some of such programe were agricultural credit guarantee scheme (ACGS), people bank of Nigerians community banks (CB), now micro finance bank etc. all these are aimed at empowering Nigerians and local productions.
Microfinance industry the main source of funding micro enterprises in Nigerian Africa and even other developing regions.
This study is aimed at undertaking a primary survey of micro finance institution or industry has helped inconditioning poverty in the rural area. It will also examine the framework of microfinance institution and also observed how the operation of micro-finance. To this research work will make a critical education of micro finance institution and wide examination of rural area (concentration on the level of poverty) and how the operations of the institution have helped in reading poverty.
1.3 AIMS AND OBJECTIVES OF THE STUDY
The main purpose of this research work is to examine the assessment of the impacts of micro finance banks in eradicating poverty in the rural area. The aims and objective of the study are as follows:
Ø Examine the conceptual framework of microfinance industry in Nigeria
Ø Enumerate the feature and the meaning of a rural setting
Ø Discuss the rate of poverty in rural area
Ø Highlight the reason for the increasing rate of poverty in rural area.
Ø Expatiate the role and impact of micro-finance banks in eradicating poverty in rural area
Ø Examine the problems encountered by microfinance industry and the likely solution.
1.4 SIGNIFICANCE OF THE STUDY
This research work is descriptive in nature and to describe the impact or roles of microfinance bank/industry in eradicating poverty in rural area. This research work is also beneficial to the micro finance banks because it will examine the problems of micro finance banks critically and potters a solution to the problems.
Thus, this research will therefore, help in the overall economic development as it will encourage rural dwellers on the effective utilization of the microfinance banks never to them because this research work is describe and will educate the general public on the use of micro finance efficiently and effectively.
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