THE ROLE OF MICRO FINANCE BANKS IN THE ALLEVIATION OF POVERTY IN NIGERIA (A CASE STUDY OF OHA MICRO FINANCE BANKS OGUI BRANCH, ENUGU STATE)
Abstract
Poverty contributes to underdevelopment and its reduction leads to economic development. To be poor connotes deprivation from the basic necessities of life. In fact, poverty engender inability to afford to minimum basic essentials like food, children education, good housing, health care and good clothing to mention few (Todaro & Smith, 2011,p.2). Suffice to say that the poor are being denied their share of the nation’s resources and other necessities that are generally available in the society for their comfort. Poverty is a worldwide socio-economic problem. Hence, its awareness is much more favored at the international level of finance and governance. For example, the World Bank, United Nations (UN) and international Monetary Fund (IMF) have developed various programmes and project that would improve the life of the poor, ensure health improvement and sustainable growth and development (Sewamala, Sperber, Zimmerman, & Karimli, 2010).
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