Business
Cooperative Gets CBN’s Approval For Microfinance Bank

The President/Chief Executive Officer (CEO) of iEBS Matrixx Cooperative, Investment & Credit Society Limited, Dr. Larry Goodwill Ajiola, has said the body has gotten approval from Central Bank of Nigeria (CBN) to float a Microfinance bank.
Ajiola said this during the meeting of the different unit leaders of the cooperative in Port Harcourt over the weekend.
He said the bank will kick-off operations this year, saying that all the cooperative members would become the first customers of the bank.
The iEBS Matrixx boss, who is also a United Nations Eminent Peace Ambassador, informed that members would be given their cheque books and are entitled to loans without collateral.
He reiterated the willingness of the leadership to carry everybody along, but expressed dissatisfaction over members that sell out information of the cooperative .
“Everything we do in this cooperative follows due process. The members of this body have fair representation in all the nations of the world because of the finished work of her President”, he said.
Ajiola noted that the grant and other programmes of the cooperative are aimed at alleviating poverty and boosting the businesses of members and other Nigerians, adding that, “anybody that has registered for one programme or the other in the cooperative will benefit from good things that are in the pipeline”.
Secretary of the Cooperative, Mr. Ifeanyi Pius advised members to write their business plans and strategise on how the business would succeed, adding that, “if you wait until the money comes, you will spend without achieving your goal.
“The cost of the shop must not be greater than your income, if your business must break through. Your prayers should be, God, give me wisdom to find solutions where there are challenges”, he advised.
Pius charged members to come with their coded business plans to show their preparedness for business.
Speaking in an interview with The Tide shortly after the meeting, a cluster head, Pastor Eshiebor Triumph commended the President of the Cooperative for his selfless efforts to achieve success for everyone.
He noted that since 2017 he joined the group, he has benefited from the vast knowledge of the CEO, adding that the group is a place to be due to the love, care and integrity of the leadership.
Highlight of the occasion was the election of Mr. Collins Henry as the Provost of the Cooperative.
By: Lilian Peters