The Central Bank of Nigeria (CBN) has expressed readiness to continue partnering with Microfinance Bank in the Micro Small and Medium Enterprises (MSME), Agricultural credit guarantee scheme, and financial inclusion.
Mr. Sah Nyashi, CBN Controller Yola branch disclosed this at the inauguration of Dabtikir Microfinance Bank Limited formally known as Biyama in Hong Local Government Area, Adamawa state on Saturday.
Nyashi, represented by Adamu Yusuf, Head of the Currency Management office congratulated people in the area and employed them to take advantage of the opportunity to explore all their life endeavors,
“CBN would continue to partner with you in the areas of Micro Small and Medium Enterprises, (MSME), Agricultural Credit Guarantee Scheme and Financial Inclusion.
“This came at a time when the less privileged needed access to funds to develop and expand their economic activities.
“Microfinancing is part of the strategy CBN implores to enhance the economic growth and sustainability in Nigeria by channeling loans/credit to the populace”, he said.
Speaker Adamawa State House of Assembly, Mr Bathiya Wesley, assured 100 percent support for the bank to succeed in improving the economic development of the area.
He further charged the management and staff to ensure professionalism in line with global best practices.
Dr Asongo Abraham, a guest speaker at the event said, that Microfinance Bank are beacon of hope for community development and nation-building.
He said that microfinance provides access to capital that is critical for small businesses to thrive, creating employment opportunities and improving living standards.
Abraham advised the management to embrace technology in running the bank and build trust with customers for a successful business.
Prof. Benson Baha, Provost College of Education Hong and chairman of the occasion called on all people in the area to open accounts with the bank for economic development at the grassroots.
“The aim of establishing the bank is to promote rural development through the provision of finance and banking service to the host communities”, he said.
He called on the customers to also be creditworthy as the bank would help alleviate poverty and create employment opportunities as well as help people to grow their businesses.
Earlier in his speech, the Chairman Board of Directors of the Bank, Prof. Johnson Pongri who gave an overview of the history of the Bank, said farmers and businessmen/women can obtain loans from the bank to enable them to grow their businesses.
He said the bank will provide “affordable and accessible loans to women and youths aiming to start or expand their businesses.
“Financial literacy program: offer financial education, helping customers understand savings, credit management, and investment options,” he said. with
There was also a goodwill message from the Chairman of Hong Local Government Council, Hon. Usman Inuwa Wa’aganda.
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