Business
BVN Printouts: Civil Servants Slam FCMB Branch
L-R: Chairman of the Nigeria Standard of Engineers, Mr Oreoluwa Fadayemi, President, Nigeria Society of Engineers (Nse), Mr Ottis Anyaeji and Nse Vice President, Professional Development, Mrs Margret Oguntala, at a news conference in Abuja, yesterday
Civil Servants in Rivers
State have criticised the attitude of staff at First City Monument Bank Limited (FCMB), Ikwerre Road branch over non-issuance of Bank Verification Number (BVN) print-outs to them.
The need for BVN arose as a requirement for presentation at the ongoing biometric exercise declared by the Rivers State Government to enable the government fish out ghost workers in the state civil service.
However, civil servants that visited the Ikwerre Road branch were disappointed as staff on duty refused to avail the workers of the important document that was described by the government as a “mandatory primary document”.
Most of the workers who spoke to The Tide under the condition of anonymity described the action of the bank as wicked and uncalled for.
Reasons given by the staff for not giving out the documents include workers indebtedness to the bank. But rescue came the way of the workers as the Azikiwe branch of the same bank threw open its gates to the civil servants and issued them the BVN printouts without stress.
An obviously agitated house-wife who spoke to The Tide said the action of staff at the Ikwerre road branch was inhuman and capitalist in nature.
Although the ugly development was not only reported at the FCMB, The Tide gathered that some civil servants operating accounts with other banks also registered similar complaints.
When The Tide visited the Azikiwe branch of the FCMB on Wednesday, civil servants were seen collecting printouts of the essential document, even as they further praised the staff and management of the branch for their understanding and cooperation.
It could be recalled that the Rivers State Governor, Chief Nyesom Wike in his recent pronouncements pinned the payment of outstanding salaries to civil servants in the state to the complete participation of every worker in the biometric exercise to check the ghost workers syndrome.
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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