The Chairman, Board of Directors, Allworkers Microfinance Bank, Prof. Ike Basil Onukogu, has called on the governments of the federation to make microfinance banks the official banks for the local government areas where they operate and the official banks for payment of salaries of all government workers.

This is a reasonable action to take, Prof. Onukogu said, since microfinance banks were created to bring banking facilities to the working class and to those who were marginalized by the banking industry.

Prof. Onukogu, a University of Nigeria Nsukka retired Professor of Statistics and a former Chairman, Board of Directors, University of Nigeria Nsukka Microfinance Bank, made the call at the send-off party organized in honour of Engr. Benedict Offurum who was retiring as a Director of Allworkers Microfinance Bank.  Three members of the bank staff – Vivian Mgbachi, Oluchi Nsopurum and Kelechi Osuji, were also honoured for their excellent performance in the 2013 financial year.

Making microfinance bank the official banks for government workers will be to no disadvantage to commercial banks, Prof. Onukogu argued, adding that since microfinance banks make use of commercial banks as their correspondence banks, deposits passing through microfinance banks must necessarily recycle through commercial banks.

In his remarks, the retiring Director, Engr. Offurum, thanked the management of the bank for the honour done him.  Even in retirement, Offurum said, “I must continue to sell Allworkers Microfinance Bank to the public”.

Each of those who were honoued for excellent performance also expressed gratitude to the bank’s management for recognizing excellence and dedication to duty and promised to continue to give their best to the bank.

Allworkers Microfinance Bank, located at 30 Mbari Street, Ikenegbu Layout, Owerri, with branches at Egbeada and Orji and a Cash Center at Naze, is one of the leading microfinance banks in the country fully licensed as a state bank by the Central Bank of Nigeria.

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