What is the modus operandi of micro finance in Nigeria?

In Nigeria, microfinance operates by providing small loans and financial services to underserved populations, particularly low-income individuals and small businesses. These institutions often focus on empowering women and promoting entrepreneurship by offering accessible credit, savings accounts, and financial education. The loans are typically characterized by lower interest rates compared to informal lenders, and repayment schedules are designed to be flexible. Microfinance in Nigeria aims to alleviate poverty and stimulate economic growth by enabling clients to enhance their livelihoods and invest in productive activities.