Speaker, Kano state House of Assembly Rt. Hon. Kabiru Alhassan Rurum has assured the leadership of Integrated Micro-Finance Banks Union, Kano branch, that it would do everything within its jurisdiction to safeguard the corporate existence of Micro-finance banks from imminent collapse.
Hon. Rurum gave the assurance while receiving the members of the Integrated Micro-finance Banks union under the leadership of Abdullahi Isa Nababa who paid him a courtesy visit and to forward the union complains with regard to the upward review of the recapitalisation funds announced by the Central Bank of Nigeria from 20 to 200 million Naira.
The Speaker asserted that in view of the developmental impact of the Banks, more especially towards booming the small-scale entrepreneurship and petty traders in our local communities.
Adding that the upwards review of the recapitalisation is practically unfeasible and he said if the funds are not reverse it will serve as a clogs shackling the wheel of socio-economic development of the north.
The Speaker emphasized that the trend and also posing a serious threat to the extent that the House will tabled the issue during next week plenary in order to find the viable solution.
In his remark, Chairman of the union, Abdullahi Isa Nababa said the visit to the House of assembly is very imperative in view of recapitalisation process meant to reposition the operational status of micro-finance Banks across the Federation.
He said that, within Kano State there are 47 micro-Banks, but adding that in view of the upward review of the capital base, he said the Banks are gradually shutting down, which he said will rising the additional figures of unemployed in Kano and north at large.