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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:The rural banking scheme in Nigeria: matters arising
Author:Uche, Chibuike UgochukwuISNI
Periodical:Savings and Development
Geographic term:Nigeria
rural economy
External link:https://www.jstor.org/stable/25830690
Abstract:In recent years, commercial banks in Nigeria have been pressing the Central Bank of Nigeria (CBN) to allow them to discontinue operation of branches in rural areas. This would mean an effective end to the results of the Rural Banking Scheme (1977-1989), which had forced the introduction of local branches in rural areas upon the commercial banks. This paper evaluates the Rural Banking Scheme, deals with the government's objectives at the time of its adoption, assesses the operations of the scheme, and discusses the change of strategy from direct support of banks to protection of the deposits of customers and the establishment of a community banking scheme in 1992. Rural communities are encouraged to take an active part in financing this latter scheme. These community banks appear to be better placed than conventional commercial banks in servicing the needs of the rural poor and in promoting rural development. Bibliogr., notes, ref., sum. in English and French.