UNILORIN woos investors with UMFB ‘s profits
The management of the University of Ilorin has urged shareholders in the UNILORIN Microfinance Bank (UMFB) to take advantage of the bank’s prospect of continued substantial annual dividend payment and invest more in the bank, noting that the bank has successfully sailed to the shores of profitability after the challenging chapter of its history.
This encouragement was given by the Vice Chancellor, Prof. Wahab Olasupo Egbewole, SAN, last Monday (December 18, 2023) while speaking at the third Annual General Meeting of the Bank.
The Vice Chancellor, who was represented by the Deputy Vice Chancellor (Management Services), Prof. Suleiman Funsho Ambali, noted that it is not surprising that the bank is now making profit because the parent corporate entity, which is the University of Ilorin, is Better By Far.
Prof. Egbewole noted that “it is not surprising that UNILORIN Microfinance Bank Nigeria Ltd has continued as a Better-By-Far Microfinance Bank among its peers. Let me enthuse on behalf of other Shareholders that the Board, Management and staff of UNILORIN Microfinance Bank Nigeria Ltd shall not disappoint the high expectations of our Bank’s myriads of customers for a wide array of modern banking/financial services. Is it instant fund transfer, speedy loan processing, cash management, NQR, fast POS services? Look no further, the one-stop Bank for your needs is our UNILORIN Microfinance Bank. It is the first MFB to pioneer self-branded ATM cards”.
The Vice Chancellor also observed that the one trillion economy policy of the Nigerian government will have effect on all Microfinance Banks and the UNILORIN Microfinance Bank should brace up for it.
He also expressed optimism that the impressive return on investment presented at the AGM will further strengthen the confidence of its stakeholders.
He, therefore, congratulated the Board, management and staff of Unilorin MFB for the feat achieved so far and urged them not to rest on their oars.
Speaking in the same light of optimism, the Ag. Board Chairman of the Bank, Prof. S. O. Oguntoye, described the occasion as a celebration of the bank’s return to profitability
The Ag. Chairman , therefore, solicited for more support from the bank’s shareholders for the bank to remain the best among its peers.
On his part, the Managing Director and Chief Executive of the Bank, Mr. Olorunfemi Ayodele, disclosed that the bank competes competently and favourably with commercial banks on campus because its services are built on the latest banking technologies and high quality service delivery.
The event was attended by members of the University’s management team including the Deputy Vice Chancellor (Academic), Prof. Olubunmi Abayomi Omotesho; the Registrar, Mr Mansur Adeleke Alfanla; and the Ag. Bursar, Mr Oba Abdulbarki.