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NAMB steps up standards in microfinance banks in Abuja

The National Association of Microfinance Banks, Federal Capital Territory chapter, says it has mapped out strategies to ensure that microfinance banks in the territory deliver quality services to the residents.

The chairperson of the group, Frances Bekee, disclosed this when she briefed newsmen in Abuja yesterday. Bekee said the body has also mapped out strategies to ensure that staff members of microfinance banks in the FCT conduct themselves properly along the ethical standards to ensure that customers get the required satisfaction.

“There are seven principles revolving around protecting the consumers in terms of pricing of products. They include transparency, treating customers with dignity especially during recoveries, and making sure we understand the needs of the customers even before embarking on designing products for them,” she said.

She encouraged microfinance banks to give their customers the platform to air their grievances. According to her, the operations of microfinance banks in Abuja are in accordance with the regulations of the Central Bank of Nigeria.

On the power of NAMB on erring microfinance banks in the FCT, Bekee said currently the association is an association of banks, but such provisions will soon be put in place to avoid victimization of staff members by bank owners.

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