**Title: Naija's Microfinance Banks Gear Up for Growth, Corporate Governance** **In a Move to Bolster Growth, Nigeria's Microfinance Banks (MFBs) are Emphasizing Good Corporate Governance** In a bid to strengthen their operations and prepare for a potential capital raise, Nigeria's microfinance banks are focusing on good corporate governance. This move comes as the Central Bank of Nigeria (CBN) considers increasing the minimum share capital of MFBs, which could have far-reaching implications for the industry. **Akiwe, the Unsung Heroes of Financial Inclusion** According to data from the CBN, microfinance banks are the driving force behind Nigeria's financial inclusion drive. They have been instrumental in increasing access to financial services for the country's underserved population, with their contributions accounting for 95% of total lending in the industry. Microfinance banks have also been at the forefront of expanding the country's Point-of-Sale (PoS) infrastructure, with over 85% of PoS terminals belonging to them. **The Challenges of Corporate Governance** Despite their significance, microfinance banks have faced challenges related to corporate governance and oversight. Poor governance practices have led to financial institutions struggling to comply with regulatory requirements. Chairman of the National Association of Microfinance Banks (NAMB), FCT Chapter, Mr. Francis Akie, emphasized the importance of good corporate governance in the microfinance ecosystem, stating that it is essential for operators to effectively manage finances and comply with regulations. **Preparing for the Future** With the CBN considering a capital raise for MFBs, operators believe that a recapitalization program is imminent. To be well-prepared, NAMB has organized specialized training sessions for managing directors, chairmen, and non-executive directors of MFBs to build their capacity in corporate governance. Akie noted that the capacity building is crucial for MFBs to effectively manage finances, recover loans, and comply with regulatory requirements. **Conclusion** Nigeria's microfinance banks are playing a vital role in promoting financial inclusion and driving growth in the country. By emphasizing good corporate governance and building capacity, they are positioning themselves for future challenges and opportunities. As the CBN considers increasing the minimum share capital of MFBs, it is essential that the industry continues to prioritize good governance practices to ensure that they remain relevant and effective in serving the country's underserved population.