Nigerian Govt urged to reform developmental banks

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SMEs

An entrepreneur, Mr Nerus Ekezie, on Thursday urged the Federal Government to reform developmental banks to ensure they grant loans to small business owners without collateral.

Ekezie, the Director, Public Relations, National Association of Small and Medium Enterprises (NASME) on Programmes, made the call in an interview with the News Agency of Nigeria (NAN) in Lagos.

He said that if only the government could review the developmental banks, accessibility of credit without collateral would be possible.

“Despite many of the lofty programmes being muted to fund small businesses by the government, it has been unrealised because of the stringent conditions of the banks.

“Restructuring of the banks has become inevitable for government to successfully fund indigenous businesses.

“Although the Bank of Industry and other schemes are doing a great deal, more needed to be done,…

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