Bayelsa State Government moves to boost Izon-Ibe Microfinance Bank

Bayelsa State Government has made an appeal to individuals, local government councils and other institutions to transact business with its own bank, Izon-Ibe Micro-Finance bank.

The Deputy Governor, Senator Lawrence Ewhrudjakpo, made the plea at a meeting with local government council chairmen, labour unions and management of the bank in Government House, Yenagoa.

The Deputy Governor who said the call for increased patronage was to enable the bank actualize the rationale behind its establishment explained that the bank was established by the Senator Seriake Dickson’s administration in 2015 to promote self-reliance, saving culture and entrepreneurship in the state.

Senator Ewhrudjakpo, who called on traders, civil servants and retirees to make use of the state-owned financial institution, assured that government would continue to give the bank all necessary support to enhance its viability.

Describing the setting up of Izon-Ibe Microfinance Bank as part of government’s rural development strategy, he noted that the present administration had already released a grant of two hundred million naira to strengthen the bank’s capital base.

Commenting on the bank’s request for the migration of the salary accounts of local government workers, the deputy governor appealed for understanding and cooperation among all stakeholders.

In their separate remarks,  Chairman of Southern Ijaw, Chief Nigeria Kia and his Ekeremor and Kolokuma/Opokuma counterparts, Dr Perekeme Bertola and Chief Dengiye Ubarugu, described the proposal of migrating council workers salary accounts to the IMFB as commendable.

They however expressed concern about the technical, operational and financial capability of the Microfinance bank to efficiently manage the salaries of over fifteen thousand council workers in the state.