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The Speaker, Kano State House of Assembly, Alhaji Kabiru Rurum, has assured the leadership of Integrated Micro-Finance Banks Union, Kano branch, that the legislatures would intervene to rescue the banks from collapse.

Rurum gave the assurance while receiving members of the Micro-finance Bank Union under the leadership of Abdullahi Isa-Nababa on a courtesy visit on Thursday in his office.

The News Agency of Nigeria reports that the Union presented its complain with regard to the upward review of the recapitalisation funds announced by the Central Bank of Nigeria from N20 million to N200 million.

The speaker said that considering the developmental impact of the banks at the grassroots, especially on the small-scale entreprises and petty traders in local communities, Dr there was need for their existence.

Rurum expressed the Assembly’s readiness to discuss on the issue during its plenary next week with a view to finding a viable solution on the issue.

Ealier, the Chairman of the union, Abdulllahi Isa-Nababa, said the visit to the assembly was very imperative in view of the recapitalisation process meant to reposition the operational status of micro-finance banks across the Federation.

He said there are no fewer than 47 micro-banks in Kano state adding that the banks are gradually shutting down due to the upward review of the capital base.

He said the development could contribute more to the present challenge of unemployment in the country.

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