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MFB empowers 300 with micro credit funds

By Amaka Abayomi
Umuchinemere Pro-credit Micro Finance Bank (UPMFB), Enugu, has began the disbursement of micro credit facilities to about 300 active poor in Nkanu East and Nkanu West LGAs in Enugu State, in furtherance of the church’s avowed war against poverty in Africa.

According to the chairman of the bank, Prof. Obiora Ike, the disbursement is the bank’s self-set social goal to eradicate poverty in the society, which is in line with the Central Bank of Nigeria’s policy on microfinancing.

“UPMFB has in the last three months provided various amounts of micro credit funds to about 300 active poor people in these two LGAs to improve their means of livelihood and change their lives for the better.

“The bank has since its transformation in 2007 recorded a streak of successes in the goal of fighting poverty by bettering the poor living conditions of thousands of the active poor people in urban and rural Enugu State.

“We offer micro-credit facilities in areas of micro leasing, tricycle leasing, small and medium scale trading/enterprises, agriculture, education advancement, easy savings for low income earners, children education micro funding, house improvement, wedding, salary advancement, among others.”

Ike stated that, with the approval of the CBN, UPMFB is enhancing its capacity by upgrading three of its rural outlets from meeting points to branches to enable it contend with the rising challenges of meeting the goal and the daily economic needs of the active poor in the society, especially in the rural areas.

He explained that after its inspection of the three meeting points of the bank, the CBN was satisfied that they met the conditions of becoming branches and therefore gave its approval for them to be made branches.

Ike promised to ensure that UPMFB remains “a credible vehicle for economic evangelization, which corresponds to the Social Doctrine of the Catholic Church to make faith real through good works that serve the principles of solidarity, human dignity and the common good.

He also stated that UPMFB will retain its high profile as a leading microfinance bank in Nigeria, fulfilling regulatory guidelines, and stakeholder’s expectations both in its transparent financial records and in its ethical standards that guarantees access of financial services to the poor and unbanked in rural areas.


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