Business
Umeh Emerges NAMB President
The chairman of Enugu Microfinance Bank, Mr. Mathias Umeh has been elected as the National President of National Association of Micro-finance Banks (NAMB).
The election which was held at the inaugural general meeting of the association Thursday in Abuja, saw the election of five officials to the National Executive Council (NEC) of NAMB.
Umeh secured 288 votes while his opponent, Mr. Olutayo Adenekan, the chairman of All Stars Micro-fiancé Bank, Lagos only secured 202 votes.
The managing director of Accion Micro-finance Bank, Mrs. Bunmi Lawson emerged the national treasurer with 300 votes compared to the 203 votes of Malam Mustafa Hassan of Nigeria Police Force (NPF) Micro-finance Bank Lagos.
The post of NationalLegal Adviser went to Alhaji Abdukarim Mohammed from North Central (unopposed) while Mr. Jethro Akin, chairman of Eagle Micro-finance Bank won the seat of the first vice president, leaving Mr. Jude Nsazie for the seat of the 2nd vice president.
Director of other financial institutions (DFID) of Central Bank of Nigeria, Mr. Olufemi Fabanwo, said that his presence at the election general meeting was to ensure that the elections were properly conducted and that those elected would remain committed to the tenets of global best practices in mircro-fiance banking.
It would be recalled that up till August 6, 2009, micro-finance banks had two parallel associations culminating from former community banks that transformed to micro-finance banks and new micro-finance banks that came up after.
The CBN persuaded the two associations to merge into one body, leading to the harmomisation of the two bodies on November 12, 2009.