Gov. Umo Eno Declares Open Namb National Conference In Uyo
...Receives the Award of 'Pillar of Microfinance Banks' in Nigeria
Akwa Ibom State Governor, His Excellency Pastor Umo Eno PhD on Thursday, declared open the National Conference of Association of Microfinance Banks in Uyo, the State capital. The Governor was represented at the event by his Honourable Commissioner for Finance, Mr. Emem Almond Bob.
With the theme: “Microfinance Banking: Bridging the past, empowering a sustainable future for economic development,” Governor Eno while declaring the conference open congratulated the Association for marking 20 remarkable years of microfinance banking in Nigeria.
He stated that the theme of the conference aligns with his administration’s vision of empowering SMEs through grants, which to date, have spent over 15 billion Naira comprising business, agriculture, market grants, various youths empowerment schemes, and training of over two thousand youths by Ibom- LED among others.
”The present administration of Akwa Ibom State through the ARISE Agenda deliberate commitment to stimulate microfinance growth in the State has established the Ibom Fadama Microfinance Bank. Apart from using the Bank to support entrepreneurial development, also ensures that all operational costs of the State’s MDAs are drawn from this Microfinance Bank, he said.
In highlighting the transformative role of microfinance in the economic landscape of the State and Nation, the State Chief Executive mentioned that the Akwa Ibom State government in the course of disbursing the Two billion Naira (N2.0b) Micro, Small, Medium Enterprise Development Fund to various beneficiaries had utilized 11 Microfinance Banks in the State for the purpose.
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”Microfinance Banking has helped the government to achieve Financial Inclusion by extending financial services to the underserved and economically active poor; Empowerment through support for small and medium-scale enterprises (SMEs), fostering entrepreneurship / self-reliance; and Training /Capacity Building which beyond credit, microfinance institutions provide vital training, enhancing skills and economic opportunities.
”However, the focus areas for Microfinance Banking in recent time towards sustainable growth should be: Embracing technology to expand reach and efficiency by Digitalization; Ensuring microfinance institutions remain viable while serving their critical social role for Sustainability; and Collaboration with government, private sector, and communities for greater impact- Partnerships,” he stated.
Governor Eno while thanking the Association for the award conferred on him, added that to further encourage SMEs in the State, the State government had brought in the Bank of Industry ( BoI) and provided a matching fund of 2 billion Naira so that the small business owners can borrow at single digits; said that the government wants to grow the SMEs because they represent the engine of economic growth and prosperity all over the world.
In his welcome speech, the National President of NAMB, Alhaji Abubakar Ahmed, said the choice of Uyo for the annual conference was necessitated by the City’s warm ambience, and thanked the Governor of the State for his administration’s desire to boost the state’s tourism potentials.
He said that the 20 years anniversary of the Association is historic as it gives them the opportunity to review the past, asses the present and project the future.
A keynote address was delivered at the event by the Governor of Central Bank of Nigeria, Dr. Yemi Cardoso who was represented by the bank top executive.
