Nigeria's microfinance banking industry has seen massive growth over the past five years, with its total balance sheet soaring from less than N300 billion to over N6 trillion.Dr.

Adenrele Oni, President of the National Association of Microfinance Banks (NAMB), highlighted this during the association's 16th Annual General Meeting in Abuja.

He urged the Federal Government and Central Bank of Nigeria (CBN) to provide more intervention funds and create a supportive regulatory environment for operators.The sector's loan portfolio reached N2.4 trillion as of March 2026, while deposits hit N4.3 trillion, showing increased trust in microfinance institutions.Oni praised policies that strengthened the industry but stressed the need for more support to help micro, small, and medium enterprises (MSMEs).

He argued that intervention funds would allow affordable loans to businesses and low-income Nigerians, boosting economic activities and inclusive growth.A business-friendly regulatory framework was also advocated to deepen financial inclusion, create jobs, and improve grassroots livelihoods.The new NAMB leadership plans to boost public awareness to enhance confidence in the sector.