Resumen de Regulation as panacea for microfinance failure in northern nigeria: A CRITICAL REVIEW

Aliyu Abdulaziz, Lawal Gumel Makama, Dalhatu Abubakar, Idris Sarki, Musa Mohammed Adamu, Ikaribakuma Munasuonyo

• Objective: The objective of this paper was to examine Regulations as a panacea to microfinance failure in Northern Nigeria.

    Design/Methodology/Approach: This study critically examined 14 peer-reviewed empirical papers on a range of topics related to the failure of microfinance. The evidence obtained from this review and the authors’ deep understanding of the microfinance institutions’ failure causes formed the development of a practical implementation blueprint for achieving effective management of the microfinance finance institutions in Northern Nigeria.

    Findings: The lack of effective regulations that reflect the specificities of Microfinance Institutions has affected their successful management.

    Practical Implications: The regulation blueprint gives an idea of how the Central Bank of Nigeria (CBN) in conjunction with the Nigeria Deposit and Insurance Cooperation (NDIC) and the Federal Government of Nigeria (FGN) can minimize the failure of our microfinance institutions in Northern Nigeria and Nigeria at large.

    Originality/Value: As a critical review, this study adds to the existing body of research by emphasizing the importance of microfinance sustainability to financial inclusion and poverty alleviation, through a review of works of diverse authors from different jurisdictions.