Information Asymmetry between microfinance banks and Poor women in Oyo State, Nigeria:. A Critical Examination

      Аннотация: Poverty alleviation is perhaps one of the most difficult challenges bedeviling the developing countries of the world today. Poor women were targeted because they lack assets that can be used as collateral to obtain loans from commercial banks. Microfinance was adopted by Nigeria as a tool for poverty alleviation after the worldwide acceptance of the Grameen Bank model.Data collection was done through the use of structured questionnaires. 50 questionnaires were distributed to the Managing Directors of 50 Microfinance Banks in Oyo State. 39 Banks (78%) returned their questionnaire. 623 women were randomly selected out of which 529 (85%) .This study shows that information asymmetry does exist between the Banks and the clients making it difficult for banks to lend to the women. Also, Microfinance has succeeded in providing financial services to the poor women and it has enhanced their income thereby assisting them in meeting their basic financial needs. Microfinance has also empowered these women, by providing them with confidence, self-esteem, and the financial means to play a larger role in their household and the economy in general, thereby gradually alleviating poverty in Nigeria

Ключевые слова: poverty, Poverty alleviation, Microfinance, asymmetric information, poor women