CBN extols Umuchinemere Pro-credit MicroFinance Bank

CBN extols Umuchinemere Pro-credit MicroFinance Bank

The Central Bank of Nigeria (CBN) has extolled the Umuchinemere Pro-credit Micro Finance Bank Limited (UPMFB) as one of the micro finance banks it is proud of in the country.

A CBN Controller, Chief Emeka Achebe, who represented the apex bank at the 16th Annual General Meeting of UPMFB, which was held on December 11, 2012, affirmed that the CBN rightly approved of the bank's 2011 external annual report that was presented at the meeting.

The CBN executive officer told the shareholders of the bank that "your bank is one the banks we're very proud of, and that is why I'm here."

Chief Achebe had declared: "As I'm reporting to you today, Umuchinemere Pro-credit Micro Finance Bank Limited is the number one and the only one in Enugu state that has gone up to the position of State micro finance bank."

He said under the law CBN staff were prohibited from making public official statements unless authorized, but based on his "personal capacity as an executive officer of CBN I'm only reaffirming what Monsignor Obiora Ike said that the UPMFB audited annual account was duly approved by the Central Bank of Nigeria."

Achebe further told the AGM that it was the first time the CBN attended such a meeting because of the outstanding performance of Umuchinemere Pro-credit Micro Finance Bank Limited, disclosing that he was touched to attend the meeting.


Sanusi Lamido Sanusi
CBN Governor

Addressing the mind of the gathering to a proverb that says a good performer deserves a pat on the back for the person to continue doing well, the apex bank executive officer told the UPMFB shareholders that the CBN was giving a pat on the back of the bank so that it would continue to do well.

Wishing the bank the best of luck in its future endeavours, he recalled that Umuchinemere Pro-credit Micro Finance Bank Limited was the first and only one micro finance bank that the CBN has carried out its risk based examination throughout the eastern part of the River Niger.

The regulatory body observed Umuchinemere Pro-credit Micro Finance Bank Limited as one of the best microfinance banks in the country and the number one, east of the River Niger.

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