Amaka Obiefuna.

Ecobank Transnational Incorporated (ETI)’s Chief Executive Officer, Ade Adeyemi has urged the Government to introduce Credit Guarantee Schemes for Micro, Small and Medium Enterprises (MSME) as a measure to hedge their risk.

Mr. Adeyemi was speaking in Abuja during the ‘Access to Capital’ panel at the 23rd Nigeria Economic Summit where he explained that MSME’s are a fundamental part of the economic fabric in Nigeria and the wider continent and therefore play a crucial role in furthering growth, innovation and prosperity.

He said “currently, many banks would rather invest in treasury bills than give credits to individuals which may later result in non-performing loans,” said Ayeyemi.

“If the government were to take out part of the risk by saying, ‘we will guarantee’, then I would become indifferent whether I put the money in a treasury bill or an MSME.”