The quest for the Urhobo Nation to set up a microfinance bank primarily targeted at women and youths reached a milestone over the weekend when the subscription to the proposed bank crossed the N200m mark.
According to the Central Bank of Nigeria guidelines, the promoters need to deposit N200m with the CBN to enable it apply for the CBN license to commence operations.
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Speaking on the attainment of the target the chairman of the committee saddled with raising funds for the bank, Mr. Abraham Ogbodo, thanked all Urhobo sons and daughters, who responded to the call and subscribed to the shares of the bank.
He reminded existing and potential subscribers that “though we now have N200m to deposit with CBN, our target is N300m and subscription is still on.” He also said engagement with the CBN towards getting the license has started.
