FADAMA Microfinance Bank Set to Commence Operations


All is now set for commencement of operations at the Ibom FADAMA Microfinance Bank located in Uyo, the Akwa Ibom State capital, the Board Chairman, Umo Eno has said.

The chairman made this known shortly after an on-the-spot inspection of the facility to ascertain the state of preparedness for operations.

He noted that the bank was ready to commence operations having fulfilled every operational condition and waiting for the final inspection by the regulatory body, the Central Bank of Nigeria (CBN).

According to him, the Ibom FADAMA Micro Finance Bank is basically a financial institution for farmers and other Small and Medium Scale Entrepreneurs adding that it is the desire of the bank to see that every good business idea has access to funds.

Eno urged Akwa Ibom people, especially the youths to embrace farming adding that farming is a goldmine with enormous benefits.

The Board Chairman himself a renowned entrepreneur said the bank is part of the Governor Udom Emmanuel-led administration’s initiative to stimulate the economy, encourage farming and other SMEs in the state.

He commended the state governor for his disposition to support farmers and SMEs in the state and to improve the living condition of every household.

The Board Chairman who was conducted round the facility and with a brief chat with the staff members at every section, expressed satisfaction with the state of affairs and preparedness to commence operations.

On her part, the Managing Director, Mrs. Imaobong Michael Etuk, said the bank would serve as a growth partner to Akwa Ibom farmers and SMEs who will be willing to partner with the bank adding that when flagged off, farmers in the state would witness appreciable growth in their income levels through readily available and affordable facility to fund their business ideas.

According to her, “Ibom FADAMA Microfinance Bank is a promise fulfilled to the people of Akwa Ibom State to ensure that every farmer and small scale entrepreneur that has a business idea, has access to funding, training and other necessities to get the business running. That is why we call ourselves growth partner.”

She therefore advised farmers and SMEs in the state to rejoice as the Ibom FADAMA Micro Finance Bank is their answered prayer, adding “His Excellency, Governor Udom Emmanuel has delivered on his promise to better the lots of Akwa Ibom people.”