Ambode Plans Microfinance Bank Project

Governor
Akinwunmi Ambode of Lagos State has said that his leadership would build and establish microfinance bank for artisans, small and medium enterprises (SMEs) to ease business operation.
The governor who made this known during the Lagos Corporate Assembly tagged “A Plus Meets Business,” said the establishment of the bank would make business processes easier.
Ambode noted his passion about made in Nigeria products, adding that the object of the bank is to promote the manufacturers of these home made goods and SMEs generally.
He said that the request for the planned bank establishment has been sent to Central Bank of Nigeria (CBN), adding that plans are also made to get the licence to run the bank.
The governor said that the microfinance bank would lend money to SMEs and artisans at a 3 percent rate, explaining that the Employment Trust Fund established by his administration and the bank would boost the state’s economy and reduce unemployment.
It would be recalled that the Lagos Corporate Assembly platform was built by the former Lagos State governor, Babatunde Fashola.
Ambode however commended his predecessor for the platform and promised to sustain and hold the assembly twice a year.