LAPO urges deep reforms for stronger microfinance sector
Godwin Ehigiamusoe, Founder of LAPO, has called for significant reforms in Nigeria’s microfinance industry. Speaking at a leadership roundtable in Lagos, he encouraged sector leaders to pursue deliberate strategies for scaling up. He stressed that visionary leadership and sound governance are essential for growth. Ehigiamusoe highlighted the importance of institutional readiness in attracting investment and achieving sustainable expansion.
TLDR
- Godwin Ehigiamusoe said microfinance institutions must shift from small-scale operations to become resilient financial giants.
- He identified leadership mindset and outdated operational structures as major barriers to growth.
- Leaders were urged to strengthen governance, financial controls, risk management, human capital, and technology.
- He recommended independent diagnostic reviews to uncover and address systemic weaknesses.
- Ehigiamusoe shared LAPO’s experience, noting that reforms and external reviews helped attract capital and drive expansion.
