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Tab 1

National sensitization workshops for stakeholders ends on a high note

Tue Mar 08 2011

 A series of sensitization workshops embarked upon by the FGN/IFAD assisted Rural Finance Building Programme (RUFIN) with the aim of ensuring that all stakeholders are apprised of their roles and responsibilities as well as ensure they participate actively in programme planning and implementation has ended.


The workshops, which began on 8th Nov.2010 in Anambra, was also staged in Nasarawa, Imo, Benue,Lagos,Bauchi, Oyo, Akwa Ibom, Katsina, Edo and Zamfara states.


Whilst Nasarawa, Imo Benue and lagos took their turns between November and December 2010, Bauchi, Oyo and Akwa Ibom had theirs in January, 2011, whilst Edo and Zamfara had their own workshops this February.


According to Ms Lydia Ameh, workshops coordinator and Gender Specialist at RUFIN, the sensitisation was aimed at, among other things,  providing comprehensive and accurate information to target groups on programme objectives, activities, and processes so as to mitigate false promotion and expectation. 


 


It was also aimed at creating a platform for local governments to buy-in and make commitment;  ensure that decisions regarding programme priorities and implementation are based on knowledge and information as well as to mobilize and sensitize community actions towards the formation of savings and  credit groups for inclusive  and sustainable rural financial services.


 


In addition, the workshops also sought to solicit other stakeholders support and ownership for RUFIN; initiate and access potential strategic partners for the success of RUFIN, while establishing and fostering a network of community-based organizations for increased participation at the grass roots, she said.


 


At the end of the workshops, Ameh said Informal savings and Credit groups, Savings and Credit Association and Financial Cooperatives leaders and their members became more aware that sustainability of their organizations lie primarily in their hands and the confidence of beneficiaries in the participating microfinance banks was also enhanced.


We also noted that participants’ understanding of the Programme, its goals, objectives and strategies were reinforced, while the mindsets and misplaced expectations of most participants, beneficiaries and microfinance banks alike, that RUFIN was coming to disburse loans was also changed, she said.


The coordinator also highlighted issues that emerged from the workshops as requiring the attention of RUFIN, the Central Bank of Nigeria and Microfinance banks (MFBs). These included:



  • High Interest rates and  charges by participating banks

  • Distance/location of MFBs; inaccessibility to MFBs by the physically challenged on wheel chairs

  • Difficult repayment terms & schedule; Duration of the loan payment

  • Lack of trust by customers due to unstable financial environment /recent collapse of MFBs

  • Poor MFBs customer relationship

  • MFBs rigorous procedure in filling of forms; Difficulty/delay in accessing money

  • Hangover of disappointing results of past programmes; 

  • Cooperative charges by Cooperative Departments at the LGAs

  • Low client’s repayment capacity due to agricultural risk;

  • Lack of/inadequate infrastructure, including lack of market outlets for rural household to maximize profits from production and sale of produce

  • High illiteracy rate

  • High rate of Loan defaulters amongst RUFIN beneficiaries in some states; some belong to more than one group

  • Low understanding of the concept of RUFIN by some RUFIN staff in the states and MFBs staff

  • Beneficiaries  may be discouraged if they have to wait months before MDF/refinancing facilities become effective

  • RUFIN will need to revisit its targeting and ensure that it captures the rural poor. (END)



  • High Interest rates and  charges by participating banks

  • Distance/location of MFBs; inaccessibility to MFBs by the physically challenged on wheel chairs

  • Difficult repayment terms & schedule; Duration of the loan payment

  • Lack of trust by customers due to unstable financial environment /recent collapse of MFBs

  • Poor MFBs customer relationship

  • MFBs rigorous procedure in filling of forms; Difficulty/delay in accessing money

  • Hangover of disappointing results of past programmes; 

  • Cooperative charges by Cooperative Departments at the LGAs

  • Low client’s repayment capacity due to agricultural risk;

  • Lack of/inadequate infrastructure, including lack of market outlets for rural household to maximize profits from production and sale of produce

  • High illiteracy rate

  • High rate of Loan defaulters amongst RUFIN beneficiaries in some states; some belong to more than one group

  • Low understanding of the concept of RUFIN by some RUFIN staff in the states and MFBs staff

  • Beneficiaries  may be discouraged if they have to wait months before MDF/refinancing facilities become effective

  • RUFIN will need to revisit its targeting and ensure that it captures the rural poor. (END)


-       High Interest rates and  charges by participating banks


-       Distance/location of MFBs; inaccessibility to MFBs by the physically challenged on wheel chairs


-       Difficult repayment terms & schedule; Duration of the loan payment


-       Lack of trust by customers due to unstable financial environment /recent collapse of MFBs


-       Poor MFBs customer relationship


-       MFBs rigorous procedure in filling of forms; Difficulty/delay in accessing money


-       Hangover of disappointing results of past programmes; 


-       Cooperative charges by Cooperative Departments at the LGAs


-       Low client’s repayment capacity due to agricultural risk;


-       Lack of/inadequate infrastructure, including lack of market outlets for rural household to maximize profits from production and sale of produce


-       High illiteracy rate


-       High rate of Loan defaulters amongst RUFIN beneficiaries in some states; some belong to more than one group


-       Low understanding of the concept of RUFIN by some RUFIN staff in the states and MFBs staff


-       Beneficiaries  may be discouraged if they have to wait months before MDF/refinancing facilities become effective


-       RUFIN will need to revisit its targeting and ensure that it captures the rural poor. (END)


 


 

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RUFIN will achieve its objectives, says IFAD officer
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Edo State Commissioner of Agriculture and Natural Resources Lauds RUFIN programme
The Changing Face of Microfinancing and Agricultural Sector Development in Nigeria: The RUFIN Story
2013 Forbes Africa person of the year award goes to Dr. Akinwum Adesina
IFAD President urges FG to implement Value Chain Agric. Programme
Agric Minister commends IFAD for its support to Nigeria’s Agriculture
IFAD Programmes seek new Communication Specialist
Nigeria pledges $15m to IFAD in poverty fight
IFAD supports Nigeria’s Agricultural Agenda with $500,000
RUFIN MFBs urged to step up lending for the 2012 farming season
Refinance: RUFIN mentored MFBs to benefit from BOA’s N1bn fund
RUFIN trains Village Savings Groups to be functional, start enterprises
RUFIN QUICK FACTS
Edo pays N12m 2011 counterpart funds to RUFIN
M&E Learning Forum seeks synergy across all IFAD programmes
Winrock International to boost the Capacity of RUFIN groups, Staff – Country Director
Benue pays N19m counterpart funds, boosts RUFIN Programme Implementation
Entrepreneurial Development: RUFIN, SMEDAN in crucial pact
BICMFB Ltd Bauchi disburses N10m loans to RUFIN groups
ECOBANK pledges to cooperate with RUFIN
ABU seeks collaboration with RUFIN, other stakeholders, on Rural Finance Centre
RUFIN begins Participatory Rural Appraisal of financial institutions in 12 states
RUFIN seeks collaboration with EFINA
NAMB Executive Secretary assumes office with a Mission

 

Tab 2

National sensitization workshops for stakeholders ends on a high note

Tue Mar 08 2011

 A series of sensitization workshops embarked upon by the FGN/IFAD assisted Rural Finance Building Programme (RUFIN) with the aim of ensuring that all stakeholders are apprised of their roles and responsibilities as well as ensure they participate actively in programme planning and implementation has ended.


The workshops, which began on 8th Nov.2010 in Anambra, was also staged in Nasarawa, Imo, Benue,Lagos,Bauchi, Oyo, Akwa Ibom, Katsina, Edo and Zamfara states.


Whilst Nasarawa, Imo Benue and lagos took their turns between November and December 2010, Bauchi, Oyo and Akwa Ibom had theirs in January, 2011, whilst Edo and Zamfara had their own workshops this February.


According to Ms Lydia Ameh, workshops coordinator and Gender Specialist at RUFIN, the sensitisation was aimed at, among other things,  providing comprehensive and accurate information to target groups on programme objectives, activities, and processes so as to mitigate false promotion and expectation. 


 


It was also aimed at creating a platform for local governments to buy-in and make commitment;  ensure that decisions regarding programme priorities and implementation are based on knowledge and information as well as to mobilize and sensitize community actions towards the formation of savings and  credit groups for inclusive  and sustainable rural financial services.


 


In addition, the workshops also sought to solicit other stakeholders support and ownership for RUFIN; initiate and access potential strategic partners for the success of RUFIN, while establishing and fostering a network of community-based organizations for increased participation at the grass roots, she said.


 


At the end of the workshops, Ameh said Informal savings and Credit groups, Savings and Credit Association and Financial Cooperatives leaders and their members became more aware that sustainability of their organizations lie primarily in their hands and the confidence of beneficiaries in the participating microfinance banks was also enhanced.


We also noted that participants’ understanding of the Programme, its goals, objectives and strategies were reinforced, while the mindsets and misplaced expectations of most participants, beneficiaries and microfinance banks alike, that RUFIN was coming to disburse loans was also changed, she said.


The coordinator also highlighted issues that emerged from the workshops as requiring the attention of RUFIN, the Central Bank of Nigeria and Microfinance banks (MFBs). These included:



  • High Interest rates and  charges by participating banks

  • Distance/location of MFBs; inaccessibility to MFBs by the physically challenged on wheel chairs

  • Difficult repayment terms & schedule; Duration of the loan payment

  • Lack of trust by customers due to unstable financial environment /recent collapse of MFBs

  • Poor MFBs customer relationship

  • MFBs rigorous procedure in filling of forms; Difficulty/delay in accessing money

  • Hangover of disappointing results of past programmes; 

  • Cooperative charges by Cooperative Departments at the LGAs

  • Low client’s repayment capacity due to agricultural risk;

  • Lack of/inadequate infrastructure, including lack of market outlets for rural household to maximize profits from production and sale of produce

  • High illiteracy rate

  • High rate of Loan defaulters amongst RUFIN beneficiaries in some states; some belong to more than one group

  • Low understanding of the concept of RUFIN by some RUFIN staff in the states and MFBs staff

  • Beneficiaries  may be discouraged if they have to wait months before MDF/refinancing facilities become effective

  • RUFIN will need to revisit its targeting and ensure that it captures the rural poor. (END)



  • High Interest rates and  charges by participating banks

  • Distance/location of MFBs; inaccessibility to MFBs by the physically challenged on wheel chairs

  • Difficult repayment terms & schedule; Duration of the loan payment

  • Lack of trust by customers due to unstable financial environment /recent collapse of MFBs

  • Poor MFBs customer relationship

  • MFBs rigorous procedure in filling of forms; Difficulty/delay in accessing money

  • Hangover of disappointing results of past programmes; 

  • Cooperative charges by Cooperative Departments at the LGAs

  • Low client’s repayment capacity due to agricultural risk;

  • Lack of/inadequate infrastructure, including lack of market outlets for rural household to maximize profits from production and sale of produce

  • High illiteracy rate

  • High rate of Loan defaulters amongst RUFIN beneficiaries in some states; some belong to more than one group

  • Low understanding of the concept of RUFIN by some RUFIN staff in the states and MFBs staff

  • Beneficiaries  may be discouraged if they have to wait months before MDF/refinancing facilities become effective

  • RUFIN will need to revisit its targeting and ensure that it captures the rural poor. (END)


-       High Interest rates and  charges by participating banks


-       Distance/location of MFBs; inaccessibility to MFBs by the physically challenged on wheel chairs


-       Difficult repayment terms & schedule; Duration of the loan payment


-       Lack of trust by customers due to unstable financial environment /recent collapse of MFBs


-       Poor MFBs customer relationship


-       MFBs rigorous procedure in filling of forms; Difficulty/delay in accessing money


-       Hangover of disappointing results of past programmes; 


-       Cooperative charges by Cooperative Departments at the LGAs


-       Low client’s repayment capacity due to agricultural risk;


-       Lack of/inadequate infrastructure, including lack of market outlets for rural household to maximize profits from production and sale of produce


-       High illiteracy rate


-       High rate of Loan defaulters amongst RUFIN beneficiaries in some states; some belong to more than one group


-       Low understanding of the concept of RUFIN by some RUFIN staff in the states and MFBs staff


-       Beneficiaries  may be discouraged if they have to wait months before MDF/refinancing facilities become effective


-       RUFIN will need to revisit its targeting and ensure that it captures the rural poor. (END)


 


 

Tab 3

National sensitization workshops for stakeholders ends on a high note

Tue Mar 08 2011

 A series of sensitization workshops embarked upon by the FGN/IFAD assisted Rural Finance Building Programme (RUFIN) with the aim of ensuring that all stakeholders are apprised of their roles and responsibilities as well as ensure they participate actively in programme planning and implementation has ended.


The workshops, which began on 8th Nov.2010 in Anambra, was also staged in Nasarawa, Imo, Benue,Lagos,Bauchi, Oyo, Akwa Ibom, Katsina, Edo and Zamfara states.


Whilst Nasarawa, Imo Benue and lagos took their turns between November and December 2010, Bauchi, Oyo and Akwa Ibom had theirs in January, 2011, whilst Edo and Zamfara had their own workshops this February.


According to Ms Lydia Ameh, workshops coordinator and Gender Specialist at RUFIN, the sensitisation was aimed at, among other things,  providing comprehensive and accurate information to target groups on programme objectives, activities, and processes so as to mitigate false promotion and expectation. 


 


It was also aimed at creating a platform for local governments to buy-in and make commitment;  ensure that decisions regarding programme priorities and implementation are based on knowledge and information as well as to mobilize and sensitize community actions towards the formation of savings and  credit groups for inclusive  and sustainable rural financial services.


 


In addition, the workshops also sought to solicit other stakeholders support and ownership for RUFIN; initiate and access potential strategic partners for the success of RUFIN, while establishing and fostering a network of community-based organizations for increased participation at the grass roots, she said.


 


At the end of the workshops, Ameh said Informal savings and Credit groups, Savings and Credit Association and Financial Cooperatives leaders and their members became more aware that sustainability of their organizations lie primarily in their hands and the confidence of beneficiaries in the participating microfinance banks was also enhanced.


We also noted that participants’ understanding of the Programme, its goals, objectives and strategies were reinforced, while the mindsets and misplaced expectations of most participants, beneficiaries and microfinance banks alike, that RUFIN was coming to disburse loans was also changed, she said.


The coordinator also highlighted issues that emerged from the workshops as requiring the attention of RUFIN, the Central Bank of Nigeria and Microfinance banks (MFBs). These included:



  • High Interest rates and  charges by participating banks

  • Distance/location of MFBs; inaccessibility to MFBs by the physically challenged on wheel chairs

  • Difficult repayment terms & schedule; Duration of the loan payment

  • Lack of trust by customers due to unstable financial environment /recent collapse of MFBs

  • Poor MFBs customer relationship

  • MFBs rigorous procedure in filling of forms; Difficulty/delay in accessing money

  • Hangover of disappointing results of past programmes; 

  • Cooperative charges by Cooperative Departments at the LGAs

  • Low client’s repayment capacity due to agricultural risk;

  • Lack of/inadequate infrastructure, including lack of market outlets for rural household to maximize profits from production and sale of produce

  • High illiteracy rate

  • High rate of Loan defaulters amongst RUFIN beneficiaries in some states; some belong to more than one group

  • Low understanding of the concept of RUFIN by some RUFIN staff in the states and MFBs staff

  • Beneficiaries  may be discouraged if they have to wait months before MDF/refinancing facilities become effective

  • RUFIN will need to revisit its targeting and ensure that it captures the rural poor. (END)



  • High Interest rates and  charges by participating banks

  • Distance/location of MFBs; inaccessibility to MFBs by the physically challenged on wheel chairs

  • Difficult repayment terms & schedule; Duration of the loan payment

  • Lack of trust by customers due to unstable financial environment /recent collapse of MFBs

  • Poor MFBs customer relationship

  • MFBs rigorous procedure in filling of forms; Difficulty/delay in accessing money

  • Hangover of disappointing results of past programmes; 

  • Cooperative charges by Cooperative Departments at the LGAs

  • Low client’s repayment capacity due to agricultural risk;

  • Lack of/inadequate infrastructure, including lack of market outlets for rural household to maximize profits from production and sale of produce

  • High illiteracy rate

  • High rate of Loan defaulters amongst RUFIN beneficiaries in some states; some belong to more than one group

  • Low understanding of the concept of RUFIN by some RUFIN staff in the states and MFBs staff

  • Beneficiaries  may be discouraged if they have to wait months before MDF/refinancing facilities become effective

  • RUFIN will need to revisit its targeting and ensure that it captures the rural poor. (END)


-       High Interest rates and  charges by participating banks


-       Distance/location of MFBs; inaccessibility to MFBs by the physically challenged on wheel chairs


-       Difficult repayment terms & schedule; Duration of the loan payment


-       Lack of trust by customers due to unstable financial environment /recent collapse of MFBs


-       Poor MFBs customer relationship


-       MFBs rigorous procedure in filling of forms; Difficulty/delay in accessing money


-       Hangover of disappointing results of past programmes; 


-       Cooperative charges by Cooperative Departments at the LGAs


-       Low client’s repayment capacity due to agricultural risk;


-       Lack of/inadequate infrastructure, including lack of market outlets for rural household to maximize profits from production and sale of produce


-       High illiteracy rate


-       High rate of Loan defaulters amongst RUFIN beneficiaries in some states; some belong to more than one group


-       Low understanding of the concept of RUFIN by some RUFIN staff in the states and MFBs staff


-       Beneficiaries  may be discouraged if they have to wait months before MDF/refinancing facilities become effective


-       RUFIN will need to revisit its targeting and ensure that it captures the rural poor. (END)


 


 

Tab 4

National sensitization workshops for stakeholders ends on a high note

Tue Mar 08 2011

 A series of sensitization workshops embarked upon by the FGN/IFAD assisted Rural Finance Building Programme (RUFIN) with the aim of ensuring that all stakeholders are apprised of their roles and responsibilities as well as ensure they participate actively in programme planning and implementation has ended.


The workshops, which began on 8th Nov.2010 in Anambra, was also staged in Nasarawa, Imo, Benue,Lagos,Bauchi, Oyo, Akwa Ibom, Katsina, Edo and Zamfara states.


Whilst Nasarawa, Imo Benue and lagos took their turns between November and December 2010, Bauchi, Oyo and Akwa Ibom had theirs in January, 2011, whilst Edo and Zamfara had their own workshops this February.


According to Ms Lydia Ameh, workshops coordinator and Gender Specialist at RUFIN, the sensitisation was aimed at, among other things,  providing comprehensive and accurate information to target groups on programme objectives, activities, and processes so as to mitigate false promotion and expectation. 


 


It was also aimed at creating a platform for local governments to buy-in and make commitment;  ensure that decisions regarding programme priorities and implementation are based on knowledge and information as well as to mobilize and sensitize community actions towards the formation of savings and  credit groups for inclusive  and sustainable rural financial services.


 


In addition, the workshops also sought to solicit other stakeholders support and ownership for RUFIN; initiate and access potential strategic partners for the success of RUFIN, while establishing and fostering a network of community-based organizations for increased participation at the grass roots, she said.


 


At the end of the workshops, Ameh said Informal savings and Credit groups, Savings and Credit Association and Financial Cooperatives leaders and their members became more aware that sustainability of their organizations lie primarily in their hands and the confidence of beneficiaries in the participating microfinance banks was also enhanced.


We also noted that participants’ understanding of the Programme, its goals, objectives and strategies were reinforced, while the mindsets and misplaced expectations of most participants, beneficiaries and microfinance banks alike, that RUFIN was coming to disburse loans was also changed, she said.


The coordinator also highlighted issues that emerged from the workshops as requiring the attention of RUFIN, the Central Bank of Nigeria and Microfinance banks (MFBs). These included:



  • High Interest rates and  charges by participating banks

  • Distance/location of MFBs; inaccessibility to MFBs by the physically challenged on wheel chairs

  • Difficult repayment terms & schedule; Duration of the loan payment

  • Lack of trust by customers due to unstable financial environment /recent collapse of MFBs

  • Poor MFBs customer relationship

  • MFBs rigorous procedure in filling of forms; Difficulty/delay in accessing money

  • Hangover of disappointing results of past programmes; 

  • Cooperative charges by Cooperative Departments at the LGAs

  • Low client’s repayment capacity due to agricultural risk;

  • Lack of/inadequate infrastructure, including lack of market outlets for rural household to maximize profits from production and sale of produce

  • High illiteracy rate

  • High rate of Loan defaulters amongst RUFIN beneficiaries in some states; some belong to more than one group

  • Low understanding of the concept of RUFIN by some RUFIN staff in the states and MFBs staff

  • Beneficiaries  may be discouraged if they have to wait months before MDF/refinancing facilities become effective

  • RUFIN will need to revisit its targeting and ensure that it captures the rural poor. (END)



  • High Interest rates and  charges by participating banks

  • Distance/location of MFBs; inaccessibility to MFBs by the physically challenged on wheel chairs

  • Difficult repayment terms & schedule; Duration of the loan payment

  • Lack of trust by customers due to unstable financial environment /recent collapse of MFBs

  • Poor MFBs customer relationship

  • MFBs rigorous procedure in filling of forms; Difficulty/delay in accessing money

  • Hangover of disappointing results of past programmes; 

  • Cooperative charges by Cooperative Departments at the LGAs

  • Low client’s repayment capacity due to agricultural risk;

  • Lack of/inadequate infrastructure, including lack of market outlets for rural household to maximize profits from production and sale of produce

  • High illiteracy rate

  • High rate of Loan defaulters amongst RUFIN beneficiaries in some states; some belong to more than one group

  • Low understanding of the concept of RUFIN by some RUFIN staff in the states and MFBs staff

  • Beneficiaries  may be discouraged if they have to wait months before MDF/refinancing facilities become effective

  • RUFIN will need to revisit its targeting and ensure that it captures the rural poor. (END)


-       High Interest rates and  charges by participating banks


-       Distance/location of MFBs; inaccessibility to MFBs by the physically challenged on wheel chairs


-       Difficult repayment terms & schedule; Duration of the loan payment


-       Lack of trust by customers due to unstable financial environment /recent collapse of MFBs


-       Poor MFBs customer relationship


-       MFBs rigorous procedure in filling of forms; Difficulty/delay in accessing money


-       Hangover of disappointing results of past programmes; 


-       Cooperative charges by Cooperative Departments at the LGAs


-       Low client’s repayment capacity due to agricultural risk;


-       Lack of/inadequate infrastructure, including lack of market outlets for rural household to maximize profits from production and sale of produce


-       High illiteracy rate


-       High rate of Loan defaulters amongst RUFIN beneficiaries in some states; some belong to more than one group


-       Low understanding of the concept of RUFIN by some RUFIN staff in the states and MFBs staff


-       Beneficiaries  may be discouraged if they have to wait months before MDF/refinancing facilities become effective


-       RUFIN will need to revisit its targeting and ensure that it captures the rural poor. (END)