Breaking News
Translate

Microfinance bank tasks Plateau govt on infrastructure devt.

Kindly Share This Story:

By Marie-Therese Nanlong

Plateau State Government has been challenged to provide services against its tax collections from corporate organizations, especially those in the rural areas, in other to assist the organizations in creating wealth and adding value to the rural economy.

The Managing Director/Chief Executive Officer of First Lowland Micro-Finance Bank limited, Mr. Amos Balami, gave the charge while briefing shareholders on the activities of the bank during its combined 9th and 10th Annual General Meeting, AGM.

Linkage Assurance increases authorized share capital to N15 billion(Opens in a new browser tab)

Balami who commended the doggedness of the shareholders in sustaining the operations of the micro-finance bank in such a rural environment like Mabudi, Langtang South local government area of Plateau State, expressed optimism that with improved social amenities, the micro-finance bank can achieve more for the people at the grassroots.

He said, “Government is taking N6million from us yearly as taxes but we are not feeling any impact. In our immediate environment, we lack basic infrastructure such as light. Langtang South has not experienced a blink of light from the public supply in the past four years hence we depend fully on generator. No good roads or water, heightened insecurity, low prices of agricultural produce.

“These have greatly hampered economic activities and resulted in increased cost of doing business. But the Board and Management have remained focused in addressing the challenges posed by the state of the economy in general and those directly affecting the bank in particular.

CBN revokes 9 micro-finance banks’ licences in Niger(Opens in a new browser tab)

“In spite of all these, your bank has continued to wax stronger across most key performance induce with increased profitability, increased shareholders’ funds, increased customer base, reduced non-performing loans and increased goodwill. Our flashing product, Nbol-Iram has continued to perform creditably and a great asset to rural farmers.”

Vanguard

Kindly Share This Story:
All rights reserved. This material and any other digital content on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from VANGUARD NEWS.

Disclaimer

Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.
Do NOT follow this link or you will be banned from the site!