Association of Non-Bank Microfinance Institutions of Nigeria

History and background

Easy Access to affordable and effective financial products and services remain out of reach to most Rural Nigerians, despite the active role the Central Bank of Nigeria is playing in promoting microfinancing.

For many Nigerians, access to a small amount of credit can make a considerable difference in their ability to earn a self-reliant income.

In 2008 the Central Bank of Nigeria in its effort to ensure that microfinancing is implemented and achieved in rural areas, recognized Microfinance Institutions and Apex Associations of these Microfinance Institutions were formed.

The Association of Non-Bank Microfinance Institutions of Nigeria have emerged as a player in the microfinance sub-sector, it unites independent MFIs under a common umbrella to build credibility and promote development of the microfinance sub-sector with a special focus on the informal sector in order to achieve financial inclusion.

Most of our MFIs are rural based, leveraging on their proximity to clients, they are able to increase their services especially to those in remote and rural areas, thereby closing the huge gap so as to reach the unserved population. ANMFIN is prepared to help MFIs to strategically position themselves for massive outreach.

The Association of Non-Bank Microfinance Institution of Nigeria (ANMFIN) was inaugurated in 2010 through the guidance of the Central Bank of Nigeria (CBN) and with support from the Rural Finance Institute Building Programme (RUFIN). The association is duly registered with the Corporate Affairs Commission.

As of October 31st 2013, ANMFIN has 2,128 member institutions serving more than two million poor and middle class families with financial services throughout the country.