Yobe varsity to establish microfinance bank

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Yobe varsity to establish microfinance bank

Yobe state university to establish microfinance bank

Yobe State University is making plans to establish a Microfinance Bank that will create businesses and ease financial transactions for staff and students of the institution.

A committee constituted to that regard met with a consultancy company, R.I & CO Financial Institutions Consultant LTD to discuss the prospects of establishing the Microfinance Bank.

Vice-Chancellor of the university, Professor Mohammed Mala Daura disclosed this today when R.I & CO Financial Institutions Consultant LTD paid him a courtesy visit in his office.

Professor Daura said the University invited the consultancy company mainly to advise and recommend for the management on the establishment of Yobe State University Microfinance Bank which will benefit staff, students and also the entire host community.

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He said, “It was suggestions of the committee on the proposed Microfinance Bank that raised the need for us to engage a consultant who will put us through the process of establishing a Microfinance Bank”.

The Vice-Chancellor added that their dream is to have an outstanding Microfinance Bank in the University that will serve the needs of the University community and beyond.

Daura further revealed that a Tertiary Institution Poultry Revival Scheme Farm offered by the Central Bank of Nigeria (CBN) will soon be initiated and the Business Plan is already on ground.

During the presentation which was led by the Managing Consultant/CEO of R.I & Co, Rabiu Ibrahim Tudunwada, the management of the university was assured that the bank will be established within 14 weeks if the firm is given the mandate to carry out the project.

The Consultant added that the Bank will have features like any other commercial bank, including an ATM machine.

Other administrative members present during the presentation include: the Deputy Vice-Chancellor Academic Services, Dr Mohammed Musa Lawan, Registrar, Dr Kalli Alkali Yusuf Gazali, Bursar, Bukar Aji Bukar, Deputy Registrar Information and Protocol, Hajia Uwani Mamuda, among others.

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