The Central Bank of Nigeria has urged more
women to approach the banks for small and
medium scale loans because they will repay such
grants better than their male counterparts.
Its Director of Corporate Communications, Mr
Isaac Okorafor, said this during an event by the
bank at the Lagos International Trade Fair in
Lagos on Friday.
He also said that the CBN placed a high priority
on women, and was increasing the number of
females in its fold.
His words: “We have a special place for women
and we have increased the number of women we
have because we believe that women are more
efficient, more reliable and more enterprising than
men.
“It is easy to give more loans to women because
they will pay back. They are not like those of us
(men) who may not pay back.”
He explained further that if a woman had the naira
note, the impact of the money would be greater
than when it was given to a man.
While noting that the women were more
enterprising, he said that they hardly come out to
collect the single digit interest loans that the bank
was giving to the small and medium scale
enterprises, while those who come are not well
organised and lacked the necessary collateral.
He also mentioned that many of the women did
not have bank accounts where the loans could be
paid into.
To address this challenge, he said that the CBN
had been encouraging the women to organise
themselves under effective cooperative units to be
able to access the incentives.
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