Nigeria National Petroleum Corporation’s microfinance bank gives N15m loans to customers
May 21, 2010 by Microfinance Africa
Daily Trust –
The newly commissioned ABUCOOP Microfinance Bank has granted N14.8 million loans to nine customers in the last two week, the Managing Director of the Bank Shedds Obi Okoronkwo has said.
Speaking yesterday at the official commission of the bank in Abuja, Okronkwo said the bank has a deposit base of N140.9 million with about 364 customers.
ABUCOOP Microfinance Bank Nigeria Limited is a subsidiary of the Multipurpose Corporative Society of the Nigeria National Petroleum Corporation (NNPC).
“We are using this opportunity to solicit for the businesses of the cooperative societies and individual businesses that do not own or have access to microfinance bank services to come and partner with them”, he said.
He explained that the services of the ABUCOOP Microfinance bank is not only for NNPC staff but for the general public who are ready to enjoy the services of tested professionals in the administration of the Microfinance banks.
He said the bank gives the lowest rate of interest in the industry and has Fidelity Bank and First Bank as parent banks.
Speaking while commissioning the Bank, the Group Managing Director of the NNPC, Engr. Austen Oniwon encouraged all NNPC staff to support the bank by opening at least a family account with them.
Yeah, it’s good, very useful, thanks
Microfinance Bank is a welcome institution in Nigeria and its diaspora, but it’s operation cannot be completed without the expert and personnel that knows and have studied the market trend of Nigeria, such as illustrous S. O. Okoronkwo and the host of others in well viable MFB.