NPF Microfinance Bank Plc, has urged government to support microfinance banks with a lower tax regime to enhance its business, thereby releasing more money into the economy.
Besides, the bank said Development Bank fund should be given to microfinance banks (MFBs) at single digit rate, which they will in turn make available to their customers at a lower interest rate to boost economic activities of the micro, small and medium enterprises (MSMEs).
The Managing Director/Chief Executive Officer, NPF MFB, Akin Lawal, made the call at a press conference marking the bank’s Silver Anniversary in Lagos.He recalled that the bank had grown from authorised share capital of N500,000 made up of 500,000 ordinary shares of N1.00 each at inception, to the current N3billion made up of six billion…
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