Imo govt to launch micro finance banks in 637 communities

OWERRI—IMO State government has said it would float micro finance bank in each of the 637 communities, with its headquarters at Okigwe Road, Owerri.

Governor Rochas Okorocha disclosed this while on facility tour of the project headquarters in Owerri.

A statement by Mr. Akutah Peace said Governor Okorocha explained that the state government was in partnership with the Central Bank of Nigeria on the project and had equally obtained certificate and completed all necessary documentation for smooth take off.

He assured that the bank would be adequately funded by the state, stressing that about N2 billion naira had been earmarked for the bank.

The governor described the financial institution as a dream come through in the present administration’s bid to alleviate poverty in the state, pointing out that “this will help the ordinary people in the village, the peasant farmers, traders to access loan.”

He added that all Community Government Council, CGC, accounts would be created in the Imo micro inance banks for easier access to the communities.

Source: Vanguard

Publish Date: 

Friday, 17 October 2014