The Deputy Governor of CBN, Mr Tunde Lemo, has said that about 800 micro-finance banks in the country have granted loans and advances totaling N34.54 billion as at June this year.

Lemo, who is in charge of Financial Sector Surveillance at the CBN, told newsmen in Lagos on Saturday that the banks had N50.28 billion deposit.

He said that 607 out of 761 community banks that were in existence before the emergence of micro-finance banks in January this year, had been successfully converted to a micro-finance banks.

According to him, 72 additional investors came into the sub-sector while 89 new banks have been given approval in principle.

Lemo said that CBN recently approved an interim capacity building programme for about 2,864 staff of micro-finance banks and that the programme would kick off on September 1.

He disclosed that the CBN had also approved the establishment of a certification process to ensure that all categories of workers in the micro-finance banks were trained in best practices by certified trainers.

Another major achievement of the micro-finance, according to Lemo, was the establishment of entrepreneurship development centres in the country's six geo political zones.

He said that the centres were established to complement efforts of other relevant agencies in the development of entrepreneurship spirit amongst Nigerians.(NAN)