To sustainably increase the banking, credit, affordable savings and micro-insurance policies of the rural Small-scale farmers, the Abia State Livelihood Improvement Family Enterprises, Niger Delta, LIFE-ND Project, an International Fund for Agricultural Development-backed Project, on Thursday, May 21, 2026, in Umuahia, trained its beneficiaries on payment system, remittance and insurance activities.
Mr Lucky Ubani, Financial Inclusion Specialist
Speaking on the event, the Financial Inclusion Specialist, Mr Lucky Ubani, who represented the LIFE-ND Project Coordinator Uchenna Rowland Onyeizu, Ph.D., CEnv, said the training was directed at introducing the beneficiaries, who are mainly Small-scale farmers, to digital systems, using Point of Sale, PoS machines, mobile phones, among others, to enhance their businesses transactions.
He enjoined participants to indemnify their businesses against any sudden loss, saying that engaging in insurance is a wise decision of any astute businessman.
“The Project invited Moniepoint and Microfinance bank managers to introduce their packages, including payment systems that will fasten business transaction even in the rural areas where their businesses are situated”, he said.
Cross section of participants
The participants who are majorly marketing and production entrepreneurs of rice, poultry, cassava, oil palm processing, including their various value chains, had their skills built on the possibility of using the digital systems to qualify for loans within the sum of N5 million to N100 million, based on the scale of their businesses.
He disclosed that accessing such credit or loans would be a product of commitment, transactional turnover that would facilitate easy repayment, adding that the moratorium allowed for such re-payment is however limited.
Mr Friday Chibuike, Resource person
The Resource person, Mr Friday Chibuike, a branch manager of Moniepoint Umuahia, said the participants were introduced to various packages: personal, business money book, moniepoint loan systems, especially the fixed deposits services that would accrue reasonable interest, advising that “spare money” deposited in commercial banks might be a source of misery, constantly subjected to unnecessary charges that undermine business growth, while increasing poverty rate.
Stating conditions for PoS machine and loans, he listed, having PoS terminal, verifiable physical shop, extent of turnover, eligibility of account details, qualifies applicants to access loans in Moniepoint and microfinance facilities, encouraging that very high amounts could be considered through “modification” process of sustainable statement of account and ability of repayment.
He advised Small-scale farmers to add benefit to their businesses by embracing “money book” an inventory system that can manage businesses even without the owners’ presence.
Ufomba Chinweuba Ogechi, a participant
Acknowledging the impact of the training, a participant, Ufomba Chinweuba Ogechi, Hearty Consumables Enterprise, Amaise Umuokereke, Ngwa, Obingwa Local Government Area, said the training had improved his business transaction process, having been taught the skills of money transfers and payment systems.
Mrs Chika Chisom Macdonald, a participant
Another participant Mrs Chika Chisom Macdonald, Abayi Ohanze Obingwa Local Government Area, said she learnt the processes of transactions using the mobile phones and PoS machines, saving her from the stress of going to the cities for banking transactions.
Group picture of participants
All selected participants are expected to step down the knowledge to other Small-scale farmers in the rural communities.
