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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:The Operation of Co-Operative Savings and Credit Associations in Kwara and Kogi States, Nigeria
Authors:Olubiyo, S.O.
Hill, G.P.
Periodical:Savings and Development
Geographic term:Nigeria
Subjects:credit cooperatives
Economics and Trade
Development and Technology
Abstract:The operators of formal credit markets in many developing economies are selective in their choice of enterprises to finance. Usually, peasants and small-scale enterprises are not exactly favoured. Hence, a large number of active entrepreneurs may not be able to take advantage of many government policy measures, but have to use the informal credit market to finance their business activities. However, the informal credit market can meet demands only to a limited extent. This paper advocates the institution of credit insurance. This insurance is usually funded by the government and guarantees repayment of loans which are in default. The paper examines the operation of one of the predominant types of organized informal credit providers in Nigeria, cooperative savings and credit associations (CSCAs). Information was obtained from 22 CSCAs in Kwara and Kogi States. The paper discusses their operation, the basis of their establishment, the benefits accruing to their members and the measures put in place to safeguard members' funds. Bibliogr., sum. in English and French.