Recapitalised Okada Microfinance Bank for unveiling tomorrow

Vice Chancellor of Igbinedion University Okada (IUO), Prof. Lawrence Ezemonye, on Sunday, assured that the upgraded Okada Microfinance Bank, situated in Okada, Ovia North East Local Government Council of Edo State, will commence operations tomorrow, Monday.

The Vice-Chancellor also noted that the reopening of the bank will boost small businesses in the university community and increase access to micro-scale funding for MSMEs.

Ezemonye spoke in Okada, Ovia North East Local Government Area of Edo State, during a stakeholders’ town hall meeting on the upgraded Okada Microfinance Bank, formerly ABC Microfinance Bank.

He urged residents of the Okada community to bank with Okada Microfinance Bank, adding that it has been reorganised to meet global financial banking guidelines and serve the underserved population.

The Vice Chancellor assured of its recapitalization and urged residents to support and patronise the bank to foster its growth, saying the board of directors of the microfinance bank are persons with impeccable records and characters in the business environment.

Ezemonye added that the stakeholders’ town hall meeting, organised by the bank and stakeholders, was to reassure the community and residents to continue supporting the Microfinance Bank following its recapitalization process.

He noted that, having been certified by the regulatory authorities, the bank is stronger, better, and very reliable in providing services to the people of Okada and its environs.

Managing Director of Okada Microfinance Bank, Dr. Timothy Ogbebor, said there is no cause for fear over the funds lodged in the bank before now, stating that the monies are intact and safe.

Representative of the Odionwere (Head) of Okada Community, Pa. George Idehen, who thanked the Founder and Chancellor of Igbinedion University Okada (IUO), Chief Gabriel Igbinedion, said Okada Microfinance Bank will be helpful to the community as it will enable grassroots people to enjoy banking services and support small businesses in the area.