slugDoes Cooperative Financing Method Influence Micro-credit delivery? An Empirical Investigation of South Western States of Nigeria
Journal Title: International Journal of Academic Research in Management - Year 2013, Vol 2, Issue 4
Abstract
This paper appraises the influence of Cooperative Societies as microcredit delivery channel in selected western states of Nigeria with a view to identify the role of Cooperatives in the revised Microfinance policy of the Nigerian government. Studies over the years have shown the positive impact of cooperative societies as micro credit delivery channel and vehicle for poverty alleviation. The revised microfinance policy framework (2011) recognized the existing informal financial institutions like credit Unions and financial Cooperatives but placed more emphasis on MFBs because they are under the regulatory and supervisory purview of the Central Bank of Nigeria (CBN). Appraising the influence of Cooperative Societies on credit delivery at a time when the government seems hesitant of channeling fund for cooperative development and the resultant failure of the microfinance schemes in Nigeria becomes imperative. The data collected through the questionnaires were sorted edited and coded in a table. Both descriptive and inferential statistics were used to present and analyse the data. Purposive sampling technique was adopted to select the sample size. The selection of the 300 Cooperative Societies was done in a simple manner as such that all geo-political zones in each state were adequately represented while the 600 members selected on the basis of two members per one Cooperative Society. Analyses of Variance (ANOVA) as well as t-test were used to test the hypothesis on the cross sectional perception of SMEs members and leaders of cooperative societies on its impact as a micro credit delivery channel in the six selected states of the south west Nigeria. The mean differences were significant at 5%. Also the t-calculated value of 3.93 which is greater than that of tabulated value of 2.25 shows statistically that the mean perception of leaders is significantly different from that of the members.
Authors and Affiliations
Oladejo Moruf
Keywords
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