Solid Rock MFB plans expansion
By Sulaimon Adesina
The Managing Director of Solid Rock Microfinance Bank Limted, Mrs Mary Obe, has stated that the bank’s goal of expanding its operations beyond the present scope informed the private placement of shares currently going on in the organisation.
Speaking with Nigerian Tribune in Abeokuta, Obe said it was in the plan of the organisation to bring its services to a larger audience, thereby necessitating the selling of shares of the bank, though presently through the private placement.
She said,”We want to increase the capital base of the bank so as to have more funds to be able to do business. The need to serve the people more informed the sales.” The MD said that the bank was planning to open branches in Odeda, Ajilete and Egbado areas and equip the branches with the necessary facilities.
She added that the bank is currently selling at N1 per share, which she said is below the current market price.
While calling on the members of the public to take advantage of the process, Obe said the bank, which commenced operations in October 2007, has grown its assets in several folds and improved on its mode and level of operations, which have transformed the lives of many micro and medium scale businessmen and women in the area.
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Oyo State CIBN
inaugurates new excos
By Femi Ibirogba
From right, Mr. Segun Shonubi,
representing CIBN President,
Dr. Erastus Akingbola;
Mr. Abiola Alli, the new
chairman, Oyo State CIBN;
and Mr. Samuel Ojo, Oyo State
Vice Chairman, during the
institute’s Annual General Meeting
in Ibadan, on Thursday last week.DETERMINED to
speed up the ac-
tivities of the institute in Oyo State, bankers who are registered members of the Chartered Institute of Bankers of Nigeria have elected new set of officials to pilot the affairs of institute for the next few years.
During the Annual General Meeting of the institute on Thursday, 3 July, Fellows, Associates and members as well as student members, expressed dissatisfaction about the slow pace of the institute, dissolved the leadership and elected new set of officials in order to rev up the activities of the CIBN in the state.
This, they said, would encourage bankers to join the institute since the Act establishing it stipulates that non-members would no longer be allowed to head technical departments in banks.
The new set of officials, who pledged to do all things possible to progress the institute, include Mrs. Sontan Bola, Auditor; Mr. Adewuyi Olusola, Treasurer; Mr. Niran Ajakaye, Financial Secretary; Mr. Okunade Olanrewaju, Secretary General; Mr. Oke Ajayi, 2nd Vice Chairman; Mr. Samuel Ojo, 1st Vice Chairman; and Mr. Abiola Alli, Chairman.
Unfolding his agenda immediately after the elections, Mr. Abiola Alli, the new chairman for Oyo State CIBN, said the sky was his starting point with the support of the stakeholders of the institute.
His words, “I want to move the institute forward with the support of my fellows, because we have resolved to make our impact felt on all the banks in Nigeria. And the way we can do just that is to run an all-inclusive government.
“We desire to attract more members into the fold. We are going to build more professional bankers by running classes for those who want to write our examinations, and we will organise seminars, workshops and bring people together.”
Mr. Alli also said the CIBN would partner the Oyo State government on budget analysis, evaluation and advice, as well as any other area that the state may desire.
He said micro-finance banks administrators are also mandated by the Act to be parts of the institute, saying, “any organisation that is called a bank is affected by the Act, because what operated in the past was that non-bankers were made to head strategic positions in the industry and that was why so many banks failed.”
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