CBN urges microfinance institutions to obtain certification

The Central Bank of Nigeria (CBN) has challenged operators of microfinance banks and other financial institutions in the country to persistently pursue certification in the interest of their existence and international best practices.

Head, Consumer Protection Department, CBN, Umma Dutse, gave the charge during the Smart Campaign Certification Award ceremony in Lagos, to Grooming Centre, Ejigbo and Fortis Microfinance Bank. The ceremony also featured panel discussion on the “State of Consumer Protection in Financial Inclusion.”
 
Dutse, shortly after an award was presented to Dr. Godwin Nwabunka, Chief Executive Officer, Grooming Centre, said Nigeria is a dynamic market for microfinance, just as awareness on client protection is on the rise.

Nwabunka said the certification came as a natural course, as it is customer focus, thanking the staff for their commitment to social change and regular exposure to global best practices.