Abuja — The management of Peace Microfinance Bank Limited said plans are underway to empower low-income earners and civil servants in acquisition of property.

The head, banking operations of the bank, Mr Opara Charles, disclosed this in an interview in Abuja. He stated that the bank takes stock of its customers' businesses and empowers them accordingly.

This is coming after the chairman, Board of Directors of the bank, Chief Sam Onyishi, has declared himself the highest individual investor in the microfinance sector in Nigeria.

Chief Onyishi made this known Wednesday at the official commissioning of bank's headquarters at Utako, Abuja.

Although he did not disclose the amount he had so far invested in the sector, Onyishi said facts from the Central Bank of Nigeria had shown that his personal investment in Lagos-based Integrated Microfinance Bank Limited had put him ahead of others.

"Integrated Microfinance Bank Limited holds sway in Lagos and other south-west states. Peace Microfinance Bank Limited has begun in the FCT to replicate same. We have been involved in philanthropic activities for over 15 years and to ensure its sustainability under a legal framework, the promoters of PMFB came together to establish the bank," he said.

He said PMFB would meet the aspiration of investors, staff and customers of the bank without stress because 'the emphasis in on the active poor who are the main focus and may not have collateral,' adding that trust, innovation, proficiency, service and integrity are the watchwords.

He said the bank aims at becoming a state-based microfinance bank located in all nooks and crannies of the country as a public limited liability company in the near future.

The MD/CEO of the bank, Mr Ukasoanya Innocent, said the bank would spread in Abuja 'like a volcano'. He said it would soon begin operations at Wuse, Garki market, Area 10, Banex plaza, Kubwa, Deidei, Kuje, Gwagwalada, Bwari, Mpape, Utako market, apart from its headquarters beside Peace Park, Utako.

"Our vision is to be the unstoppable leader in the microfinance sub-sector and provide the best services to all our stakeholders. We are taking off in the FCT as a springboard to what we are going to do across the country," he said.

A guest lecturer at the occasion, Prof Peter Nwangwu, of the University of Nigeria, Nsukka, traced the history of microfinance banks in the United States, and said the goal 'is always to empower people who have objectives to become economically vibrant to become employers of labour through self-ventures'. He urged PMFB not to be profit-minded but to maintain its objectives of poverty eradication and creation of employment.

He said: "Micro-credit is granted to operators of small businesses, such as peasant farmers, artisans, fishermen, rural women and senior citizens. Such loans are usually unsecured, but typically granted on the basis of the applicant's character."

Amalgamated Butchers' Association, Suleja; Abuja Association of Garki Marketers, Abuja Entrepreneur Agency, National Directorate of Employment and the Central Bank of Nigeria are among associations at the commission.