As one of the leading financial institutions in the world, Citi Group has continued its commitment in citing and giving special recognition to over-achieving staff from their offices all around the globe. For 2010, and as part of the company’s dedication to microfinance, especially among poor nations in the world, Citi again collaborated with the Central Bank of Nigeria in awarding their Nigerian employees who excelled in 2009 in the area of microfinance.

Last January 21, Citi handed out recognitions to their employees who showed a firm resolve in pursuing and making microfinance available to entrepreneurs from all over the country. The awards aim to encourage more locals to become entrepreneurs themselves through Citi’s micro-entrepreneurship program. The awards were divided into five major categories including Best Micro Business Model, Most Marketed Product, Most Innovative Product, Employment Generation and Best Female Entrepreneur. Microfinance institutions from all around Nigeria contributed in choosing the award recepients for each category.

An estimated $40,000 was awarded by the company to the Growing Business Foundation, so that it can push through with the awards in Nigeria. Last year, Citi Group donated a total of $1.2 million to Micro-Entrepreneurship Awards program in 20 countries where it is operating, including Nigeria.

The program has been successful, especially since it has increased awareness and curiosity among the people in middle to low-income countries regarding micro-entrepreneurship. The program aims to support micro-entrepreneurs financially so that they may be able to continue the role that they play in their local economies. The program became even more relevant last 2009 as the whole world felt the effects of the worldwide economic recession.

“Entrepreneurship is a key driver in any economy and we are proud to be supporting Nigerian entrepreneurs who are working hard to grow their businesses and local economies,” comments Emeka Emuwa of Citibank Nigeria Limited.