Microfinance Bank Rebound In Hong

Dabtikir Microfinance Bank Limited formally known as Biyama Microfinance Bank in Hong Local Government Area, Adamawa state has formally been open.

Speaking at the inauguration Saturday held at Government Secondary School Hong, Prof. Benson Baha, Provost College of Education Hong and chairman of the occasion called on all people in the area to open account with the bank for economic development at the grassroots.

“The aim of establishing the bank is to promote rural development through provision of finance and banking service to the host communities”, he said.

Baha called on the customers to also be credit worthy as the bank would help alleviate poverty and create employment opportunities as well as help people to grow business.

The Speaker Adamawa State House of Assembly, Mr Bathiya Wesley, assured 100 per cent support for the bank to succeed toward improving the economic development of the area.

He further charged the management and staff to ensure professionalism inline global best practices.

In his message, Mr. Sah Nyashi, CBN Controller Yola branch said the Central Bank of Nigeria (CBN) is ready to continue partnering Microfinance Bank in the area of Micro Small and Medium Enterprises (MSME), Agricultural credit guarantee scheme and financial inclusion.

Nyashi, represented by Adamu Yusuf, Head Currency Management office, congratulated people in the area and employed them to take advantage of opportunity to explore in all their endeavors of life.

“CBN would continue to partner with you in the areas of Micro Small and Medium Enterprises, (MSME), Agricultural Credit Guarantee Scheme and Financial Inclusion.

“This came at a time when the less privileged really needed access to funds to develop and expand their economic activities.

“Microfinancing is part of the strategy CBN implore to enhance the economic growth and sustainability in Nigeria by channeling loans/credit to the populace”, he said.

Guest speaker at the event, Dr Asongo Abraham said Microfinance Bank are beacon of hope for community development and nation building.

He said that microfinance provides access to capital that is critical for small businesses to thrive, creating employment opportunities and improving living standards.

Abraham advised the management to embrace technology in running the bank and build trust with customers for successful business.

Earlier in his speech, the Chairman Board of Directors of the Bank, Prof. Johnson Pongri who gave overview on the history of the Bank, said farmers and businessmen/women can obtain loan from the bank to enable them grow their businesses.

He said the bank will provide “affordable and accessible loans to women and youths aiming to start or expand their businesses.

“Financial literacy programme: offer financial education, helping customers understand savings, credit management and investment options,” he said.

There was also goodwill message from Chairman Hong local government council, Hon. Usman Inuwa Wa’aganda.