The Federal Government of Nigeria (FGN) has received a loan from the International Fund for Agricultural Development (IFAD) of the United Nation equivalent to USD27.2 million towards the cost of implementing a Rural Finance Institution Building Programme (RUFIN) through the Federal Ministry of Agriculture & Rural Development and intends to apply a portion of the proceeds of this loan for the Engagement of a Micro Finance Expert. The Rural Finance Institution Building Programme (RUFIN) is established with a Loan Facility in the sum of 27.2 million Dollars to the Federal Government of Nigeria (FGN) from the International Fund for Agricultural Development (IFAD). The primary objective of this Programme is to develop and/or strengthen the rural microfinance subsector of the economy, comprising the Microfinance Banks (MFBs) and other member-based Microfinance Institutions (MFIs) so as to enhance access of the rural population to sustainable financial services, thereby expanding and improving agricultural productivity as well as growing rural micro and small enterprises (MSEs). The expected outcome is poverty alleviation. especially among the rural poor, women, youths and the physically challenged and closing of the very large existing gap of financial inclusion of the active poor.
The RUFIN components are:
1. Capacity Building & Technical Support to Bank and Non-bank Micro-finance Institutions.
This consists of two sub-components:-
i. Capacity Buildingfor Bank and Non-Bank Financial Institutions.
ii. Promotion of Access to Refinance and Linkage facilities.
2.Targeted Development & Strengthening Institutional Environment for Micro-finance Development.
This consists ofthree sub-components;-
i. Improve policy, legal and institutional framework for cooperatives and RMFL
ii. Implementation support, regulation and supervision of MFB.
iii. Research and documentation of policy dialogue.
3. Programme Coordination and Management
Objectives of the Assignment
The purpose of the assiqnment is to utilize the experience of a microfinance expert in further achieving the mandate of RUFIN as an intervention agency in the development and strengthening of the microfinance sub-sector of the Nigerian economy
Basic responsibilities of the Micro Finance Expert;
(i) Resultant flow of credit funds from MFBs to rural communities increase;
(ii) Financial suppliers, MFBs, enhance their rural portfolios in sufficient volumes that can produce scale and sustainability;
(iii) MFIs activities, Le. Apex Cooperatives and Non-Bank Financial NGOs, commence in full scale in partnership with the Federal and State Departments of Cooperatives.
(i) Adequate refinancing support to the MFIs/MFIs;
(ii) Development of the rural portfolio of MFBs/MFls: and
(iii) Operationalization of the group development strategy with the requirements of start-up financing in rural markets.
RUFIN calls on interested qualified Microfinance Expert, to submit six (6) copies of detailed CV's to the undersigned not later than three (3) weeks from the date ofthis advertisement.
National Programme Coordinator
FGN/IFAD-Rural Finance Institution Building Programme
3 Safana Close,
Off Zaria Street,