PROF EDEOGA COMMISSIONED ULTRA-MODERN MICRO FINANCE BANK AFTER 23 YEARS

Micro Finance Bank

It is success all the way as the Vice Chancellor of Michael Okpara University of Agriculture, Umudike, Prof Hilary Odo Edeoga commissioned the Micro Finance Bank of the University.

The Vice Chancellor in his remarks said that even as he has 105 days to the end of his tenure as the forth Vice Chancellor of Michael Okpara university of Agriculture, Umudike, the event marked another milestone in the life of his administration as this is the first time since the establishment of the university 23years ago, a Micro Finance of high standard is celebrated.    

In his words, “You will recall that on July 10^th, 2014, the apex bank in Nigeria-the Central bank issued the MOUAU MFB with license, four days later, the foundation laying ceremony took place and the bank started its commercial operation same day from its temporary site located within the Anyim Pius auditorium. That means that 16weeks after the foundation laying, on a Monday like today, the Almighty God in His benevolence has enabled us to celebrate the achievements of this but fast-growing bank as well as commission this ultra-modern edifice which will become its corporate headquarters”.

The performing VC said that the bank has consciously and consistently stimulated the economy of the communities around it and beyond and has over 4000 customers and expects to rise in the figure with the new and bigger place of operation.

He thanked the contractor and his team for an excellent work and also commended the board of directors and management of the bank for their commitment and hard work and in a special way, the managing director, Mr. Bashir Ogungbabe and urged them to surpass the feet they have recorded.

 In the same vein, the managing director of Michael Okpara Uniagric Micro Finance Bank, Mr. Bashir Ogungbabe in his address said that the Micro Finance Bank is one of the pet projects of the Vice Chancellor, Prof. Hilary Odo Edeoga, born out of the need to key into the vision of the central bank of Nigeria aimed at providing financial services to the underprivileged section of the society.

According to the manager, the doggedness of Prof. Edeoga in pursuing great vision gained the Micro Finance its license on 10^th July, 2014 and on 14^th July, 2014, it started full operation. He said the bank provides financial services aimed at alleviating poverty to its esteemed customers in the way of granting micro credits to low earners and have empowered over 600 micro customers within and around Umudike and also extended credit facilities to so many clients in agricultural and agro-allied businesses, exploring the Central Bank of Nigeria’s Agricultural Credit Guarantee Scheme.

Mr. Ogungbabe said that the Micro Finance has fully integrated with interswitch and Remita, which creates opportunity for customers to have access to funds from any location through transfers or with stand-alone Michael Okpara Uniagric MFB Ltd’s branded Debit Cards which enables customers make withdrawals from their accounts from any location.

The occasion was graced by dignitaries from all over the state, Traditional Rulers, Contractors and the staff of the University who came out in large numbers to celebrate the success.