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Product Category: Projects

Product Code: 00001528

No of Pages: 45

No of Chapters: 5

File Format: Microsoft Word

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1.1       Background to the study

1.2       Objectives of the study

1.3       Statement of the Problem     

1.4       Research hypothesis

1.5       Scope of the study

1.6       Limitation of the study

1.7       Definition of Terms




2.1       Division of Accounts of Ilobu Microfinance Bank

2.2       Procedure for Establishing Micro Finance Bank

2.3       Micro Finance Banks and Local Economic Development

2.4       Objectives of Micro-Finance Banking System



3.1       Population of the study

3.2       Research design

3.3       Sample size and procedure

3.4       Method of Data Collection

3.5       Method of Data Analysis

3.6       Restatement of Hypothesis



4.0       Presentation and Interpretation of Data

4.1       Presentation and Analysis of Data Using Research Questions

4.2       Presentation and Analysis of Data According to Hypothesis

4.3       General Discussion



5.0       Summary, Conclusion and Recommendation

5.1       Summary

5.2       Conclusion

5.3       Recommendation

5.4       Suggestion for Further Studies









1.1       Background to the study

The federal government of Nigeria in the 1990 budget speech decided to establish micro-finance in order to stretch its programme of grass-roots economic development. The aim of this study is to make a research on the contribution of microfinance banks to the economic well-being of rural dwellers in Nigeria.

The micro-finance bank scheme which started years ago received recognition as social economic venture designed to address poverty and aimed at motivating and encouraging the rural dwellers to improve their standard of living through proper use and management of resources generated in their communities.

Ilobu Microfinance Bank was one of the first micro finance banks in osun State. The project took off in the country with a mandate from the presidency to improve the lot of people through credit facilities devoid of conventional banking bottlenecks and its operating capital base supplied by the community.

            This community provides the building for the operation and the management staff a well as the Board and the Trustee. The idea is that when such collective money is given out as loans, there will not be much difficulty in recovering it back as at when due.

Micro finance bank has evolved as an economic development approach intended to benefit low income women and men in the rural areas. The term refers to the provision of financial services to low – income earners, including the self – employed. Financial services generally include savings and credit; however, some microfinance organizations also provide insurance and payment service.

Microfinance banking is not simply banking, it is a development tool.

Micro finance activities usually involve:

-                     Small loans, typically for working capital.

-                     Informal appraisal of borrowers and investments.

-                     Collateral substitutes, such as group guarantees or compulsory savings.

-                     Access to repeat loans, based on repayment performance

-                     Streamlined loan disbursement and monitoring

-                     Secure savings products

Although some Microfinance banks provide enterprise development services, such as skills training and health care, these are not generally included in the definition of micro finance.

Microfinance banks can be non governmental organizations savings and loan corporations, credit unions, government banks, commercial banks, or non bank financial institutions. Micro finance bank clients are typically self employed, low income entrepreneurs in both urban and rural areas. Clients are often traders, street vendors, small farmers, service providers (hairdressers, rickshaw drivers) and artisans such as blacksmiths and seamstress. Usually their activities provide a stable source of income (often from more than one activity). Although they are poor, they are generally not considered to be the poorest of the poor.

Money lenders and relating savings and credit associations are informal microfinance providers and important sources of financial intermediation.

1.2       Objectives of the study

            The general objective of this study is to determine the contribution of microfinance bank to the economic well-being of rural dwellers:

(i)          To reveal the contributions of micro-finance banks on rural dwellers and benefit of Ilobu microfinance Bank Limited, to the people of Ilobu and its environs.

(ii)       To determine the extent to which accessibility to micro credit has increased the household income of rural dwellers in Ilobu community.

(iii)     To examine the contributions of micro finance bank on asset acquisition and saving of rural dwellers in Ilobu.


1.3       Statement of the Problem     

The major problems necessitating this study arose from the Central Bank of Nigeria’s laws and regulations, and supervision placed over the activities of micro finance banks which are: .         

(i)                Another problem can be seen in its books and affairs because it is a fully fledged banks, It books and affairs are subject to continuous examinations by Central Bank through National Board for Micro Finance Board.

(ii)             Equally, not later than four months after the end of its financial year, each micro finance bank must submit to the National Board and exhibit prominently to the view of all members of the micro finance banks balance sheet and profit and loss account


1.4       Research hypothesis

The following hypotheses serve as a basis for the questions to be answered for the study.

Ho: There is a significant relationship between micro-finance bank and the economic development of rural of dweller.

H1: There is no significant relationship between micro-finance bank and the economic development of rural of dweller.


1.5       Scope of the study

            With available data on microfinance banking on rural dweller, the case study will focus its attention on the management system of Ilobu Microfinance Bank Limited and suggest ways by which the micro-finance banking system can be improved.

1.6       Limitation of the study

      This research work shall be limited to the contributions of micro-finance banks to the economic well-being of rural dwellers. The following are the limitations that hinder the study of this research work;

·         Financial Constraints: There are not enough funds to fuel the study of this research work. The researcher has access to a very little source of fund.

·         Time Constraints: Due to the limited time available to carry out this research work, it is not possible to carry out the research extensively as anticipated by the researcher.


1.7       Definition of Terms

Micro Finance: A type of banking service that is provided to unemployed or low-income individuals or groups who would otherwise have no other means of gaining financial services. Ultimately, the goal of microfinance is to give low income people an opportunity to become self-sufficient by providing a means of saving money, borrowing money and insurance

Bank: A financial establishment that invests money deposited by customers, pays it out when required, makes loans at interest, and exchanges.

Rural: This means a characteristic of the countryside rather than the town.

Contribution: This refers to the something that is given in order to help achieve or provide something.

Rural Dwellers: These are people living in rural areas.






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