South East
Micro-Finance Banks Tool For Empowerment –Govt
Abia State Government has described Microfinance Banking as a veritable tool for empowering the masses to become self-reliant and capable of improving the economy.
Abia State Deputy Governor, Comrade Chris Akomas, expressed this view when the state chapter of Association of Microfinance Institutions (AMFI Abia) paid him a courtesy visit at Government House, Umuahia.
Akomas noted that the transformation of the erstwhile Community Banks into Micro finance Institutions and banks underscores government’s seriousness in ensuring availability of microcredit to the masses for effective poverty reduction and wealth creation.
The deputy governor reiterated that government was also working on critical areas that will move the economic and productive sector forward through the establishment of Industrial Clusters for investment opportunities.
He pointed out that government ensured the realisation of having a Central Bank of Nigeria (CBN) as a way of bequeathing lasting legacy of prosperity to the people while in collaboration with IITA, 10 additional cassava processing plant are being established across the state to draw from available raw material as well as meet the International market needs for processed cassava products.
He called on the association to enlighten the people on the need to pay their taxes and pledged government’s support to genuine Microfinance Institution.
The President of AMFI in Abia, Dr. David Ihueze, had commended the government for its efforts in combating crime, development of essential infrastructure and providing financial support to the erstwhile Community Banks that enabled them transform into micro finance Banks.