IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 4 NO. 4 2018

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The Role Financial Institutions in Financing Small and Medium Enterprises in Nigeria

Usman Haruna & Isah Sulaiman and Tanko Abdullahi Isa

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Abstract

The paper being a conceptual review highlighted the importance of finance in the development of small and medium enterprises (SMEs) in Nigeria with the objective to specifically examine the role financial institutions play in financing small and medium enterprises in Nigeria. The article methodologically discussed various policies adopted by the government to achieve the Small and Medium Enterprises Equity Investment Schemes aims and objectives, the Central Bank of Nigeria policy to the commercial banks on the scheme and the financial institutions strategies in implementing the policies and guidelines on the scheme. It was concluded that Small and medium enterprises equity investment scheme (SMEEIS) if properly managed considering the volume of funds dedicated, could provide the necessary impetus for growth in the economy.

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