For correspondence:-
Received: 12 Oct 2017 Accepted: 12 Dec 2017 Published: 31 Dec 2017
Citation: LIFT ABOVE POVERTY ORGANISATION (LAPO) MICROFINANCE BANK AS HARBINGER FOR IMPROVING LIVES OF PEOPLE IN EDO STATE. Account Tax Rev 2002; 1(1):222-238 doi:
© 2002 The authors.
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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. JEL Classification: I300
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.
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