Geidam Inaugurates new Branch of Microfinance Bank

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Yobe Government on Thursday inaugurated new branch of micro finance bank in Geidam to bring banking services closer to the people and reduce the rk of travelling far for banking transactions.

The state Governor, Alhaji Ibrahim Gaidam, while inaugurating the financial institution said the
idea behind the establishment of the bank was to provide banking services at the grassroots.

Gaidam, who was represented by his Deputy, Abubakar Aliyu, said the bank would support small and medium scale enterprises to create employment opportunities.

Alhaji Baba Malam-Wali, the Chairman, Board of Directors of the bank, said activities of Boko Haram had reduced banking services in rural areas in the state.

Malam-Wali, who is also the Secretary to Yobe Government, said the bank had provided N128 million credit facilities to the business community and civil servants.

“We have already established three branches in Damaturu, Potiskum and now Geidam; we have also gotten approval from Central Bank of Nigeria to open two more branches in Gashua and Nguru.”

Alhaji Usman Hardo, the Managing Director of the bank, said it would provide financial services to economically active poor persons in rural communities and called for recapitalisation of the bank to extend more services to the people. (NAN)

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