The nation Nigeria, was one of the 50 richest countries in the world in the early 1970s, but has retrogressed to become one of the 25 poorest countries at threshold of the twenty first century. It is ironic that Nigeria is the sixth largest exporter of oil and at the same time harbors the third largest number of poor people after china and India. What a paradox, but that indeed is the reality today. However, the United Nations Millennium Development agenda is comprehensively addressing the core problems of under-development and primitiveness that continues to set Nigeria back since independence. In September 2000, leaders from 189 nations ratified the Millennium Declaration. The declaration was an unprecedented global commitment and one of the most significant United Nations documents in recent times. It offers a common and integrated vision on how to tackle some of the major challenges facing the world of our time. The declaration has resulted in Eight Millennium Development Goals (MDGs) focused on reducing poverty, improving the quality of peoples' lives, ensuring environmental sustainability, and building partnerships to ensure that globalization becomes a more positive force for all the world's people. Also specific targets and indicators have been set and put in place for each of the goals, to be achieved by 2015. This study attempted to identify the key roles financial institutions particularly Micro Finance Banks can play in helping to achieve these MDGs objectives in target time in Nigeria.The study offered the following recommendations amongst others; the need for re-engagement in entrepreneurial development through integrated microfinance model and it also suggested that major efforts should be made to remove the critical material, institutional and policy obstacles that prevent the rural poor from seizing opportunities for improved livelihoods in ways that they themselves can sustain and improve upon.