The National Information Technology Development Agency, NITDA, has called financial institutions in Nigeria to increase lending access for Small and Medium Enterprises (SMEs).
Director-General NITDA, Kashifu Inuwa Abdullahi, made the call at a Webinar organised by a Financial Technology Association of Nigeria with the theme: “COVID-19: Enabling Speedy Business and Economic Recovery Through Regulations,” DailyPost reports.
According to him, traditional banks’ lending processes have long been a barrier to assessing finance for businesses in Nigeria, noting that this was adversely affecting the SMEs operations.
“The COVID-19 pandemic has disproportionately impacted SMEs around the world, Nigeria inclusive. Our interventions are to help lead the tech startups from crisis to recovery as well as support them to navigate today’s challenging business landscape,” Abdullahi said.