Mr Moses Taiga, the
President-General (PG) of Urhobo Progress Union (UPU), says the proposed
Urhobo Microfinance Bank (MFB) will start operation in the second
quarter of 2019.
The
PG of the umbrella body of the Urhobo ethnic nationality said this on
Thursday at a “Meeting of PGs of the 24 Urhobo Kingdom Forum” held at
Effurun, Uvwie Local Government area of Delta.Addressing
newsmen shortly after the meeting, Taiga said the union had started
perfecting the necessary arrangements to secure the licence before May
2019. He said the bank would have been functional before now and
attributed the delay to the directive of the Central Bank of Nigeria
(CBN) which stopped the issuance of operational license to prospective
investors in the sub-sector.
“The Urhobo MFB would have taken
off before now, but CBN closed the gate of granting licenses. Now that
it has given the go ahead, by May 2019, the bank will become
operational,” he said.
From pm new