Mr. Tunde Lemo, deputy governor, CBN who spoke at a microfinance forum in Kano State last week said the dearth of microfinance banks in the entire 44 councils of the state is a major concern. The CBN deputy governor represented by Mr. Joe Alegeuno, financial sector surveillance, CBN said, the six microfinance banks currently in existence in the state would not meet the demand of the economically active poor.
The CBN official indicated that the few number of microfinance banks in Kano State underscore the need to encourage Kano State indigenes to float more banks, saying, the benefits of such investment are manifold.
He revealed that the apex bank on its part is ready to provide technical support and capacity building for stakeholders, particularly the operators of microfinance banks in the state.
He said, the situation in Kano State requires attention and concern of all the stakeholders including government, private institutions and high net worth individuals to float microfinance banks
Highlighting the benefit inherent in establishing microfinance banks, Lemo said, more economically active poor will be able to access financial services on economic terms/principles rather than the usual unsustainable charities/dole outs. He added that there would also be enhanced productive potentials through wealth generation and asset creation.
This, he said, the apex bank believes will create jobs, reduce unemployment and hence the unsavoury activities of miscreants in the society. In this way, people can be given the opportunity and right to live meaningful lives, as every other citizen of this country, he affirmed.  
Promoters of microfinance banks, according to him, could also benefit through income generated from operations considering the fact that such banks had to be profitable to be sustainable.
While applauding the CBN microfinance initiative, Governor Ibrahim Shekarau, of Kano state assured that with the availability of financial services, a large segment of Kano population would live up to expectation of improving on the existing six microfinance banks in the state.
The governor who was represented by his deputy, Abdullahi Tijani Gwarzo,  canvassed for availability of loan incentives for 5,305 graduates of the CBN sponsored pilot entrepreneurship development centres (EDC) in Kano, adding that over N500 million has been set aside in this year’s budget to establish additional microfinance banks in Kano State.THE Central Bank of Nigeria (CBN) says of the 815 microfinance banks in the country, Kano State has only six licensed microfinance bank. This, the apex bank said, is not encouraging, especially in a region where the rate of poverty is on the increase.