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Artificial Intelligence System: Implication for Proper Record Keeping in Microfinance Banks in Nigeria

Odoh Longinus ()

International Journal of Academic Research in Accounting, Finance and Management Sciences, 2018, vol. 8, issue 1, 131-136

Abstract: The growing awareness of the potential of microfinance in poverty reduction, economic growth and development in addition to the successful running and fast growing of Micro Finance Institutions [MFIs], brought the issue of microfinance banks to limelight in developing countries like Nigeria. The Nigerian microfinance banks became revolutionized following the recent recapitalization of the sector by the Central Bank of Nigeria (CBN) in 2014, which opened door for stronger microfinance firms in the sector to be a major player in the small and medium term loans to small and medium scale enterprises in Nigeria. From the initial capitalization of microfinance banks to 20 million, 100million and 2billion naira for unit, state and nation microfinance banks respectively, the sector has experienced an exponential growth within the last couple of years, thereby contributing to the nation economy.

Keywords: Financial leasing; Mena region (search for similar items in EconPapers)
Date: 2018
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