The proposed Okugbe Microfinance Bank (Okugbe MFB) on Friday received a massive boost with a promise from Mr. Abraham Ogbodo, chairman of the committee set up to raise funds for the bank, that the stage is set to chase poverty out of Urhobo land.
TheNewsGuru.com (TNG) reports Okugbe MFB is being set up by the Urhobo Nation to provide easy access to loans for Urhobo women known as Ewheya and the youths known as Ighelle.
The microfinance bank got the major boost when the President General of Urhobo Progressive Union (UPU) Worldwide, Olorogun Moses Taiga redeemed his N20 million pledge to the bank.
TNG reports Olorogun Taiga presented the cheque of N20 million for his subscription to the shares of the bank.
The UPU PG had promised during the inauguration of the Okugbe MFB Fundraising Committee to invest N20 million in the proposed bank.
Responding after receiving the cheque, Mr. Ogbodo informed Taiga that some subscribers have already paid for their shares and more are itching to pay.
He said the committee was looking forward to delivering on its mandate within the shortest possible time.
The committee also informed the PG that some committee members and other Urhobos of like mind were already looking at the possibility of floating a regional bank to cater for Urhobo middle and upper class.
“If we are going to chase poverty from Urhobo land, our people must have access to funds set up to boost their businesses,” Ogbodo said.
The committee also used the opportunity to present the Okugbe MFB logo to Olorogun Taiga.
Other members of the committee present at the presentation of the cheque and logo are Mr. Francis Ewherido, Vice Chairman and Dr. Benson Uwheru, secretary.