ACCESS TO MICROFINANCE BANKS CREDIT FACILITY AND POVERTY ALLEVIATION THROUGH IMPROVED INCOME AMONG THE PEOPLE OF CROSS RIVER STATE, NIGERIA

The study examined the relationship between access to microfinance banks facility and poverty alleviation through improved income among the people of Cross River State, Nigeria. One null hypothesis was formulated in study. Using the survey research design, data were collected from 572 randomly selected respondents. The data were statistically analyzed using chi-square test statistic at 0.01 significant level. The result showed that a significant association exists between access to credit facility and poverty alleviation in terms of improved income. The study recommended that microfinance banks should increase the amount of money given as credit to enable customers expands their businesses and investment, and enable them generate more income. It was also recommended that when credit facility(ies) are granted or given to customers, there should be follow-up by microfinance banks to ensure that it is judiciously used. Keywords: Microfinance, microfinance banks, credit facility, poverty alleviation. DOI: 10.7176/IKM/11-4-08 Publication date:August 31st 202

Shadow banking and micro-, small and medium scale enterprises: A municipal assessment in Nigeria

Shadow banking is usually considered as offering financial and financial-related support outside of the mainstream conventional financial system. The biggest issue facing micro-, small, and medium-sized businesses (MSMEs) in Nigeria is the inconveniences and challenges associated with obtaining funds or credit from conventional banks, which encourages remote business operations and small-scale expansion. Thus, shadow banking activity is still widespread among MSMEs in Nigeria. This study used MSMEs operating in the Marian and Watt markets to analyze the impact of shadow bank interest income, savings products, and loans on the performance of MSMEs. A systematic Likert scale questionnaire was given to a group of 160 people, with 157 questionnaires duly returned. The survey research design was adopted, while the SPSS software was used to analyze the data acquired. As such, shadow banking interest income has a non-significant positive impact (0.022%) on the performance of MSMEs in Calabar metropolis; shadow banking savings products have a negative but significant impact (–0.160%) on MSME performance in Calabar metropolis, while shadow banking loans have a positive and significant effect (0.194%) on micro-, small, and medium-scale firm performance in Calabar metropolis. The study concluded that shadow bank operators should ensure that their service costs are standardized and supplied at affordable rates to attract MSMEs to patronize them for more successful business operations