It was a groundbreaking and historic event for the Osun State chapter of the National Association of Microfinance Banks as it commissioned the first State Secretariat of the association in Nigeria.
National President of the NAMB, Dr Joshua Ukute, who led dignitaries to the event on Thursday in Osogbo, described the Osun State chapter of NAMB as the pacesetters and pathfinders.
Ukute, while commending the leadership of Osun NAMB for their dedication and commitment, said the project will not only instill confidence in the Microfinance Banks in Osun State, but also serve as an indicator of how strong and grounded the banks are in Osun State.
He said, “this is a very commendable project. It shows that Osun microfinance banks are pacesetters in the country. We have 37 branches of the association and I can tell you that this is the first State Secretariat in the whole of Nigeria. It’s really commendable. It also shows how strong and grounded the banks are in Osun State.”
Commenting on the policies of President Bola Tinubu, the National President of NAMB said stakeholders in the microfinance banking are pleased with the programmes of the president, expressing belief that things will change for the better in coming months.
“We are satisfied with the policies and reforms embarked upon by the President. We believe in few months to come, things will get stabilized and the economy will be better. We are on the same page with Mr President.”
The Speaker of Osun State House of Assembly, Hon Adewale Egbedun who commissioned the project, emphasized the importance of Microfinance Banks in the economy of the country.
Egbedun said his office will be integral in midwifing solid relationship between Microfinance Banks in the State and the government.
He said, ‘It is imperative for micro finance banks to create better or more conducive conditions for those willing to invest in small and medium scale enterprises. May I add that the major factors preventing a steady growth of the country’s economy are traceable to a systemic destruction of the indigenous small and medium scale investments.
“The local industry that can propel the economy to greatness is affected negatively as willing investors are incapacitated by lack of funds and access to credits, while infrastructural deficit has limited the capacity of few investors to expand the scope of their businesses.
“This is where micro finance banks and financial institutions are very relevant and strategic .
“Active, vigorous and favourable interest rates by micro finance banks will ensure available capital that can jumpstart the economy and put Nigeria on the road to recovery.
“I therefore charge the association to work in this direction that will ensure Increased participation in the establishment of small and medium scale enterprises which Nigeria badly needs.”
In his welcome address, Chairman of Osun chapter of NAMB, Alhaji Tunde Lawal expressed happiness over the development. He commended Speaker Egbedun and other dignitaries for their presence.
Lawal said, “It’s indeed a great joy for me to welcome everyone present to witness this historical occasion. When the idea was conceived by the past leaders I never knew that it will be commissioned during my tenure as the Chairman of the Association, I return all thanks to Him in His Dominion.
“It is imperative to express our appreciation to the young and vibrant Speaker of our dear State, Rt. Hon. Adewale Egbedun for taking time from his tight schedule to be here and all his entourages because the day we visited him in the office made me have a change of heart on the ways and manners our politicians behave especially when they occupy a coveted position like his. Alas! We met him seamlessly and had a robust discussion with us. A mutually beneficial economic discussion.”
“I want to seize the opportunity to remind him of all the road maps laid down especially on how the State Government will further partner with all Microfinance Banks in the State and ensure its sustainability. Mr. Speaker sir, if it’s done we will remain grateful till eternity and your name will be written in gold in the subsector of the economy.”
Former State Chairman and member of Board of Trustees, Prince Yemi Adeoye gave highlights of how the idea of the secretariat was mooted in 2012 and commenced in 2018.
Prince Adeoye appreciated the successive leadership of the association for keeping it alive and ensured its completion.
The office will serve as secretariat for 21 microfinance banks in Osun State.
Present at the event are traditional rulers, directors of Microfinance Banks, Managing Directors, representative of the host community, stakeholders in the banking sector, among others.
