The Central Bank of Nigeria has advised more women to apply for small and medium scale loans from banks because they will repay such loan better than men.
Mr Isaac Okorafor, the Director, Corporate Communications, CBN, said this during an occasion by the bank at the Lagos International Trade fair in Lagos on Friday.
He also said that CBN placed a high importance on women, and was highlighting the number of females in its fold.
We have a special place for women and we have increased the number of women we have because we believe that women are more effective, more dependable and more enterprising than men. He added.
It is easy to give more loans to women because they will pay back.
They are not like men who may not pay back.”
He explained further that if a woman had the naira note, the effect of the money would be felt greater than when it was given to a man.
He also mentioned that many of the women did not have bank accounts where the loans could be paid into.
To address this problem, he said that CBN had been inspiring the women to organise themselves under effective cooperative units to be able to access the loan enticements.