In its bid to encourage savings culture among its staff, the NNPC staff multipurpose cooperative society limited, Abuja on Thursday set another milestone by inaugurating a microfinance bank christened AbuCoop Microfinance Bank.
Inaugurating the microfinance Bank and performing his first official assignment as the Group Managing Director of the NNPC, Engr. Austen Oniwon lauded the initiative of the Corporation’s cooperative society to divest into a microfinance bank and urged management and staff of the Corporation to take the advantage and save for their family.
Engr. Oniwon who was given a standing ovation on his arrival to the venue of the event by the staff of the Corporation assured of the readiness of the management team under him to support the bank to ensure success in its operations.
“The commissioning ceremony today of AbuCoop Microfinance Bank is not only important to us as a Corporation but also important to our families, as this noble initiative will encourage savings culture among staff of the Corporation. This bank will contribute to the advancement of our families and I therefore urge members of staff to save in order to preserve the future of their families,” Engr. Oniwon declared.
In his opening remarks, the Group Executive Director, Finance and Accounts and Chairman of the Bank, Mr. M.A. Arokodare said the establishment of the
bank was driven by the desire to satisfy the request of members for funds to meet immediate financial needs and to finance investments.
According to him, “the NNPC Staff Multipurpose Cooperative Society Limited, Abuja had always been inundated by requests for funds from Cooperators, hence the need to establish a robust and complimentary source of meeting the financing needs of the members in particular and the general public. The terms for providing the services would also be competitive within the industry”.
Mr. Arokodare assured customers of the bank that the activities of the bank would be supervised by persons that were selected after painstaking checks on their integrity, character and professional records saying their savings were in good hands.
Delivering a keynote address, the President of the NNPC Staff Multipurpose Cooperative Society Limited, Abuja, Mr. O.C. Ajagba informed that the bank was established primarily to meet esteemed Cooperator’s financial needs and enjoined them to open both savings and current account for themselves and their families.
Highlight of the event was the cutting of the cake by the newly appointed GMD accompanied by the Group Executive Directors of Corporate Services, Engr. Faithful AbbiyeSuku; Commercial and Investment, Alhaji Attahiru Yusuf; Special Services, Alhaji Aminu Baba-Kusa and Exploration and Production, Mr. Phillip Chukwu and other management staff of the Corporation.
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