“…At the general level, the research focus has been primarily on reporting and describing their intellectual capital, information communication technology (ICT) adoption, capital structure, corporate governance, and effectiveness of the financial schemes on the reduction of poverty (Abraham & Balogun, 2012;Amoo & Kolawole, 2015;Ashamu & Ayodele, 2015;Chinasa, 2015;Ikpefan, Kazeem, & Taiwo, 2015;Kasali, Ahmad, & Ean, 2015;Olasupo, Afolami, & Shittu, 2014;Oludare & Oyedele, 2015;Onugu Uchenna, Obianuju, & Kamaldeen, 2015;Owolabi, 2015;Paul & Emesuanwu Catherine Ebelechukwu, 2015;Ringim, Razalli, & Hasnan, 2012;Waithaka, Gakure, & Wanjau, 2013). Accordingly, the following section presents the common characteristics and shortcomings of past research on MFIs as identified in prior studies.…”