THE IMPACT OF MICRO-FINANCE BANKS ON THE ECONOMIC GROWTH OF NIGERIA

ABSTRACT

The role of microfinance bank in economic growth and development is quite clear and distinct as the agricultural and entrepreneural sector of the Nigerian economy has been improved through numerous Micro Finance banks.The contribution of the micro finance bank in economic development is situated within the frame work of entrepreneurial development since the major reason for the establishment of the microfinance bank is to ensure the economic growth through the enforcement of the business entrepreneurs.

Data for the study was gotten from both primar and secondary sources. questionnaires issued out form the primary source of data for the study, while the internet, newsapapers and text books were the secondary source of data for the study. Findings from the study revealed that Micro-Finance banks are strongly co-rellated with the development of the economy of Nigeria. Hypothesis tested with Chi-Square at a significant level of 0.05 proved this assertion.