Rivers
The Tide To Partner RIMA On Loans
Management of the
Rivers State Newspaper Corporation has expressed its readiness to partner with the RIMA Growth Pathway Microfinance Bank (RGPMFB) Limited, a subsidiary of the Rivers State Microfinance Agency.
Giving the assurance when a delegation of the bank met with staff of the corporation, the General Manager, Mr Celestine Ogolo expressed satisfaction with the operations of the bank, saying that the corporation would partner with the bank in various areas.
Earlier, the Managing Director of the Bank, Mr Augustine Nwiyordee enumerated some of the package offered by the bank which include a relatively low interest rate, and no extra charge for delayed payment due to delay in salary payment.
Others he said “are ample time to pay back loan, and availability of salary advance facility at a reduced rate to enable people meet pressing needs.”
He explained further that ‘the uniqueness the bank’s loan scheme is that its interest rate is not determined by the Central Bank of Nigeria (CBN) policy on interests. Rather, it is determined by market.
This, is based on the dictates of the needs of the banks customers, that is, we look at what the market accepts, what people generally accept.
On the extent to which the Bank can cope with the expected pressure from civil Servants who are likely to throng the Bank for loan as a result of low interest rate, Nwiyordee assured that the bank would meet their demands given the fact it is a subsidiary of Rivers State Microfinance Agency.
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