Nigerian Legion moves to establish microfinance bank
Story from Ibraheem Hamza MUHAMMAD
Major General Abdulmalik Jibril (rtd), National Chairman of the Nigerian Legion, has disclosed that his administration is making plans to establish a Micro Finance Bank (MFB).
He made the disclosure at this year’s annual meeting of the executives in Abuja.
According to him, “In my determination to improve the lives of veterans and generate more revenues for the Legion, we are currently at advanced discussions stages for the establishment of Nigerian Legion Microfinance bank and have instituted many innovative programmes geared towards revenue generations.
“The overarching objective of Nigerian Legion is to achieve financial independence necessary for meeting the various challenges facing the Legion. It is important to note that this requirement is not an option but a statutory requirement and obligation as its contained in the formation.” He said.
General AM Jibril said his management has formulated strategies that will ensure the realisation of multiple income streams for Nigerian Legion. These plans will not only ensure internally generated revenues are improved but are also sustained.
The National Chairman said the leadership is presently in exploratory dialogues with many stakeholders and investors to ensure that the above goals are achievable through leveraging financial independence and advantages to the Nigerian Legion in the first instant and the veterans in general.
The legionnaire said that consultations and deliberations are on-going in demanding that Nigerian Legion be included in the annual budgetary allocation of the Federal Government but the Legion is severely hampered by failure of Nigerian Legion to collate and render accounts as required by the supervisory ministry, the Ministry of Defence.
General AM Jibril who is also a lawyer warned that any State Chairman or Commandant who continuously contravenes the requirement for submission of audited accounts together with report of their activities to headquarters will be reprimanded.
“The failure to comply with directives severely hampers the legions capacity to meet all developmental projects and blocks the Legion from meeting the prerequisite conditions for inclusion in the annual budgetary allocation of the federal government.
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