Ujoelen Community Bank now Ujoelen
Microfinance Bank.
Ujoelen Community Bank is now called Ujoelen Microfinance Bank due to the law
that was enacted by the Nigerian Deposit Insurance Corporation (NDIC) through
the Central Bank of Nigeria (CBN) stating that all Community Banks up till
December 31, 2007 to recapitalize to a minimum of N20m (twenty million naira)
shareholders fund, unimpaired by losses, and convert to unit MFBs (Microfinance
Banks). Those that could raise up to N1bn or $10M (one billion naira or ten
million us dollars) capital would be allowed to operate as state MFBs with
branch network spread within a particular state. A total number of 744 Community
Banks in Nigeria met the conditions for conversion to Microfinance Banks and
Ujoelen Community Bank was among the first 600 Community Banks that met the
conditions.
Ujoelen Microfinance Bank is a licensed Bank set up with the primary objective
of delivering quality microfinance banking services to both small and medium
scale businesses, individuals, groups, especially the poor but very active
Nigerian entrepreneurs as provided in the microfinance policy.
Our Mission
To be a market-driven financial institution, people oriented with enviable
reputation in giving Nigerians the confidence of a financially secured future,
providing qualitative products and services to our numerous customers while
maintaining high ethical standards.
Our Vision
To seek out friends (the customers) and add value to them as we work together
with transparency thereby reducing poverty and unemployment as we lead the
industry.
Ujoelen Microfinance Bank received an Award of Excellence from the
Central Bank of Nigeria when it was still a community bank.
Ujoelen Microfinance Bank was established
1980. We celebrated our
28th Anniversary March 18, 2009.
Many changes have occurred since the City of Ujoelen was established. We at the
Ujoelen Microfinance Bank are pleased to have share in the History of Ujoelen.
We are 28 years old and the oldest bank in Ujoelen and Bendel County. We are
proud of our legacy and poineering spirit. Our success is possible because of
valuable friends and customers who have provided us the opportunity to serve
them and have reciprocated by giving their loyalty and support through these
many years. They have furnished the inspiration for service and growth and have
keep us aiming for progress in the community and area, which we serve. We
affectionately extend 28+ years of "THANK YOU".
CORPORATE OFFICERS
| F.A. "Puz" Ehize |
Chief Executive
Officer/President |
| Tope Familode |
Chief Operating
Officer/Executive Vice President |
| Edward Onomen
|
Sr. Vice President/Chief
Credit Officer |
| Folahon Ajiboye |
Vice President/Assistant
Operating Officer |
| Moses Oluwafemi |
Assistant Vice
President/Lending |
| Peters Oni |
Assistance Vice
President/Lending |
|
