Original Research Article | OPEN ACCESS
LIFT ABOVE POVERTY ORGANISATION (LAPO) MICROFINANCE BANK AS HARBINGER FOR IMPROVING LIVES OF PEOPLE IN EDO STATE

R. O. Owenvbiugie, PhD , E. Iyamu, PhD

Department of Vocational and Technical Education, Faculty of Education, University of Benin, Benin City, Edo State, Nigeria;

For correspondence:-  R. Owenvbiugie, PhD   Email: rowenvbiugie@gmail.com

Received: 12 Oct 2017        Accepted: 12 Dec 2017        Published: 31 Dec 2017

Citation: Owenvbiugie, PhD RO, Iyamu, PhD E. LIFT ABOVE POVERTY ORGANISATION (LAPO) MICROFINANCE BANK AS HARBINGER FOR IMPROVING LIVES OF PEOPLE IN EDO STATE. Account Tax Rev 2017; 1(1):222-238 doi:

© 2017 The authors.
This is an Open Access article that uses a funding model which does not charge readers or their institutions for access and distributed under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0) and the Budapest Open Access Initiative (http://www.budapestopenaccessinitiative.org/read), which permit unrestricted use, distribution, and reproduction in any medium, provided the original work is properly credited..

Abstract

The study assessed the influence of LAPO microfinance banks on the lives of people in Edo State. Two research questions guided the study. The conceptual framework adopted for this study is Grameen lending group model postulated by Muhammad Yanus in 1983. The sample size of the study was 179 LAPO clients representing 10% of the population. The descriptive survey design was used for this study. The instrument used was validated by three experts. Pearson’s Product Moment Correlation coefficient was used to compute reliability of the instrument which yielded a correlation coefficient of 0.78. Questionnaire was the instrument used for data collection. Data collected were analyzed using descriptive statistics.
From the results of the analysis, it was discovered that all the LAPO clients agreed that LAPO MFB helped them to secure flexible loans to a very high extent. Consequently, it was recommended that the government should assist LAPO MFB financially so as to have enough funds to encourage disburse to the poor in business in the society.

JEL Classification: I300

Keywords: Lift Above Poverty Organization (LAPO); microfinance banks; improving lives, credit facility provision, securing deposit.


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