Bauchi Approves N900m Lifeline For Yankari Microfinance Bank

Bauchi State government has approved N900 million to recapitalise Yankari Microfinance Bank, in a move to revive the struggling lender and expand access to finance at the grassroots.

The chief economic adviser to the governor, Yahuza Ningi, disclosed this while briefing journalists after a meeting of the Bauchi State Executive Council held over the weekend.

Ningi said the fresh injection of funds would enable the bank to operate fully within the policy and regulatory framework of the Central Bank of Nigeria (CBN), which mandates minimum capital requirements for microfinance institutions.

According to him, the recapitalisation is part of a broader strategy by the state government to restore full banking operations at Yankari Microfinance Bank and position it to better serve small businesses, artisans and low-income earners across local communities.

“The aim is to strengthen the bank so it can effectively meet the microfinance needs of the people,” Ningi said.

He added that the overhaul would also modernise the bank’s operations, including streamlining its systems to support internet banking, a move expected to improve service delivery and financial inclusion.

Ningi said the development signals the Bauchi State Government’s renewed push to stabilise key financial institutions and stimulate economic activity at the community level.