This brief shares data about the effect of savings groups — which CRS calls “SILC” (Savings and Internal Lending Communities) — on vulnerable households in Nigeria. Between August 2015 and September 2017, more than 1,100 SILC groups were formed within the CRS-led “SMILE” program for orphans and vulnerable children (OVC). The groups engaged nearly 25,000 members, including roughly 18,000 women, and accrued total assets of nearly N146 million (approximately US$406,000) by the end of September 2017. By mid 2018, 20% of the groups had graduated and shared out their savings and dividends. In subsequent savings cycles, they continued to operate successfully without program support.
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