Leadership (Abuja)
Aminu Imam
21 June 2008
Abuja — First Global Micro Finance Bank will soon release to the public an initial offer of N1bn naira to boost its capital base.
The managing director of the bank, Mr. Victor Itonyo, who said this in an interview with newsmen in his office, said the offer will enable the public to be part owners of the bank.
Itonyo said the bank was established in 2006 to provide financial services to the people in the lower ladder of the society, who do not have access to banking services.
He emphasised that from statistics it was discovered that 68 per cent of the money in circulation is in the hands of people in the lower lower of the society.
"The bank came on board in 2006. Its vision is to carry out banking services to the unbanked populace", he said.
Itonyo continued that, "Because of the unique position which these groups of persons occupy in the socio-economic condition of Nigeria , the bank had to simplify the process of banking."
He further said that the bank has established centres in all markets in Port-Harcourt and its environs. "We have this mode of operation, going to them in the markets in Port-Harcourt and Oyibo.
"Accordingly, 36 centres have been established, while plans are underway to establish centres in all rural ports of Rivers State and beyond," he revealed.
Victor Itonyo said about 6,000 people, mostly women, have benefited from the bank's micro credit scheme facility, pointing out that "the scheme has gone a long way in alleviating poverty among the people."
The First Global Micro Finance bank manager said that the bank also intends to go into partnership with the government and development agencies, with a view to reducing poverty in the state and the Niger Delta.
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