To ensure judicious use of micro finance bank loans by beneficiaries and operators of those loans nation-wide, the Central Bank of Nigeria (CBN) has contracted three capacity building agencies to establish, at a cost of N1.5 billion, three pilot entrepreneurship training centres in three key areas of the country.

The three centres are to be located in Lagos, Kano and Onitsha. Beneficiaries and operators of micro finance Bank loans are to be trained to acquire some basic skills, which include, business management, financial management among others during the 18 months of the pilot project.
While Africa Leadership Forum, in Otta Ogun State is to run the Lagos centre, Onitsha and Kano are to be run by Opportunities Industrialisation Centres International and University of Nigeria Centre for Entrepreneur and Development Research respectively.

Speaking at the signing of the contract agreement with the three agencies in Abuja, CBN Governor, and Prof. Chukwuma Soludo said CBN's decision to establish the three training centres was to ensure that beneficiaries of micro finance loans nation-wide acquire the right skills necessary to make success of their businesses.

He expressed deep regret that most beneficiaries of the loan in the past have not been able to make judicious use of the loans as a result of lack of basic business skills to build and grow their various businesses.

His words: "We simply assumed that once people are given money they would do their business successfully. But we later discover that this is not the case" plan. What we are trying to do by setting up this pilot development centres and pilot training centres is to complement the activities of SMEDAN, NAPEP, National Directorate of Employment and others to be sure that individuals who are being assisted get the requires skills to start their various businesses"

He added that CBN's action in this direction was to complement the efforts of various government agencies such as SMEDAN, NAPEP, and National Directorate of Employment among others.
"The pilot stage would take 12-18 months to operate within which they are expected to produce 5,000 entrepreneurs within their area of operation. After this pilot stage, the CBN will establish one centre in each of the six geographical zones to increase the number," he stressed.

According to him, CBN may decide to turn those training centres to relevant government agencies that empowered to handle such training at the end of five years.
Soludo also of the hope that the pilot project would provide a leadership entrepreneurship base for both state and local governments just as he enjoined them to set up their own entrepreneurship training centres.

Responding on behalf of the agencies, Mr. Alfred Tambe of Opportunities Industrialisation Centres International assured Soludo of their commitment to ensure the success of the project.