The Central Bank of Nigeria (CBN) has disclosed that Anambra State currently ranks second in the list of states with highest number of Micro Finance Banks (MFBs) in the country even as the Oko Micro Finance Bank launched its new branch.
Speaking in Oko during the commissioning of the new branch of Oko Micro Finance Bank, a Director at the CBN, Enugu branch, Mr. Ogadi Mmeka, disclosed that apart from Lagos State which has the highest number of banks, Anambra State ranks second.
Mmeka attributed the feat to what he described as industrial nature of Ndi Anambra, adding that it became imperative for more MFBs to spring up in various parts of the state to assist traders in doing their business, while commending the Oko Micro Finance Bank for surmounting various challenges facing the sector.
He urged the bank not to relent in its success but strive harder to open more branches and raise a capital of N100 million to get to the status of a state Micro Finance Bank which will give it leverage to open more branches in any part of the state.
Mmeka further advised the management of Oko Micro Fianance Bank to maintain proper quality internal control measures through installation of ICT to monitor the activities of the bank and its staff to maintain high ethical standards.
Earlier in his address, the Chairman, Board of Directors, Dr. Emma Udoye, attributed the success story of the bank to what he described as synergy between the staff and members of the board, which, he said, led to the bank opening more branches.
Udoye further disclosed that the bank decided to open more branches to serve its numerous customers, noting that it had became necessary to expand its services to accommodate its numerous customers.
He further said the bank surmounted various challenges to get to the present stage because of the unity of purpose in Oko Community, while expressing optimism that in no distant time, the bank would open more branches in other parts of the state to serve its customers better.
Also speaking, the Traditional Ruler of Oko Community, Igwe Prof. Laz Ekwueme, commended the board, management and staff of the microfinance bank for expanding its services to reach out to its numerous customers, disclosing that it was the first community-owned bank to open a new branch in the state.
SOURCE: Sun News Online (Nigeria)
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