TABLE OF CONTENTS
PAGE
Title Page – – – – – – – – i
Certification – – – – – – – ii
Dedication – – – – – – – – iii
Acknowledgements – – – – – – iv-v
Table of Contents – – – – – – vi-ix
List of Table – – – – – – – x
Abstract – – – – – – – – xi
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study – – – – – 1-3
1.2 Statement of the Problem – – – – – 3-4
1.3 Objectives of the study – – – – – – 4
1.4 Research Question – – – – – – 5
1.5 Significance of the Study – – – – – 5
1.6 Scope/Limitations of the Study – – – – 6
1.7 Organization of the Study – – – – – 6-7
1.8 Definition of Terms – – – – – – 7-8
CHAPTER TWO
REVIEW OF RELATED LITERATURE
2.1 Introduction – – – – – – – 9
2.2 Emerging theory of Micro-Finance – – – – 9-12
2.3 Objectives of Micro Finance – – – – – 12-14
2.4 Micro-Finance and the Economy – – – – 14-17
2.5 Major Achievements of Micro-Finance in Akwa Ibom State 17-20
2.6   Problems of Micro-Finance  –      –      –      –      –      20-22
2.7 Prospects of Micro-Finance – – – – – 22
2.8 Micro-Finance as an Empowerment to Economic
Development in Akwa Ibom State – – – – 23-24
2.9 The Challenges of Micro-Finance Banks in
Akwa Ibom State – – – – – – 24-25
End Notes
CHAPTER THREE
RESEARCH METHODOLOGY
3.1 Introduction – – – – – – – 27
3.1.1 Restatement of Research Questions – – – 27
3.2 Design of the Study – – – – – – 28
3.3 Area of the Study – – – – – – 28
3.4 Population of the Study – – – – – 28
3.5 Sample and Sampling Technique – – – – 28
3.6 Instrument/Method for Data Collection – – – 29
3.7 Data Analysis Techniques – – – – – 29
CHAPTER FOUR
DATA PRESENTATION AND INTERPRETATION
4.1 Introduction – – – – – – – 30
4.2 Data Presentation, Analysis and Presentation – – 30-40
CHAPTER FIVE
FINDINGS, CONCLUSION AND RECOMMENDATIONS
5.1 Findings – – – – – – – – 41-42
5.2 Conclusion – – – – – – – – 43-44
5.3 Recommendations – – – – – – 44-45
References
Appendices
ABSTRACT
Since the advent of microfinance banking in Ikpe Annang in the mid 1994, and also commend business in the same year being issues provisional banking license by the National Board for Community Bank (NBCB). The seeming popularity of this model among developing countries is predicted on poverty reduction prospects it offers. The Nigerian government cued into this popular thinking in 2005 when it inaugurated the microfinance banking schemes. This was founded to provide finance to economically actives poor excluded from financing by conventional banks, provide employment, engender rural development and reduce poverty. This paper theoretically examines the challenges these banks have had to grapple with from their inception. Furthermore, it scans the business environment to assess the prospects of microfinance banks in Nigeria. The paper shows that microfinance banking in Akwa Ibom State faces enormous challenges in infrastructural inadequacies, social misconception, poor legal and regulatory framework, unbridled competition from other financial institutions, abandonment of core microfinance function and paucity of qualified manpower. This paper therefore concludes that the future of microfinance banking in Akwa Ibom State is bright.Â
