By Jonathan Ugbal
Cross River Governor, Senator Ben Ayade Friday commissioned a branch of the University of Calabar Micro Finance Bank (UMFB) at the Vice Chancellors (VC) village in Obudu.
The banking institution according to the VC, Professor Zana Akpagu will focus on providing loans for small and medium scale businesses with CrossRiverWatch findings revealing that the three new generation banks in Obudu have stopped providing loans for businesses for a long time now.
Zana, in his address said the bank will also help in curbing unemployment with another branch currently under construction in Obanliku local government area that will be commissioned soon.
Commissioning the institution which is located directly opposite Zana’s paternal compound in Bebuagbong village, Ayade who was in Illah, Delta state for the burial of former governor Liyel Imoke’s mother was represented by his Special Adviser on Administration, Mark Obi who lauded the varsity’s management decision to site a branch of its financial institution in Obudu as it will help boost the local economy.
Also, the Paramount Ruler of Obudu Uti JD Agba in his remarks commended the UMFB board for its choice of the local government area headed by “a son of the soil” and called on other well meaning Obudu sons and daughters to emulate Professor Zana to ensure the growth and development of the council area.
The event drew dignitaries from all works of life. Notable among those present were the former Vice Chancellor of the varsity, Professor James Epoke who led a host of other Professors and staff, a two term member of the House of Representatives, honourable Paul Adah amongst others.