Microfinance banks urge Kwara govt to rescue finance houses

Date: 2020-02-29

The Kwara state government has been urged to save Micro Finance Banks(MFBs), from imminent collapse by rescinding decision of removing the salaries of the state civil servants, local government workers and pensioners from MFBs. The State Chairman of MFBs, Ahmad Baba-Suleiman made the appeal in Ilorin on Wednesday while speaking with newsmen at a news conference.

According to him, most of the workers owed the banks about N1billion,adding that if their salaries are removed, the workers will not pay their debts.

Suleiman explained that the effort being made by the financial institutions to meet up with the Central Banks recapitalisation policy would be jeopardised, if the state government remained adamant on its decision.

"The services being rendered to the civil servants and the poor masses of which the Finance banks were designed to serve, will no longer be achieved because they can not meet the requirements set by the commercial banks, all these is because Kwara state is a civil service state " he added.

He also lamented that the new policy by the state government would deny the civil servants and the poor masses, of which the MFBs were designed to serve as it will no longer be achieved because they cannot meet the requirements set by commercial banks, because according to him, Kwara is a civil service state.

The chairman appealed to the state government to give the the affected banks time to enable them resolve the issues in dispute.

He assured the state government that the microfinance banks would assist in blocking all financial leakages but however, implored the government to impress on its ministries and agencies to make use of the nuban number when posting their staff salaries to the MFBs account.

Suleiman also explained that presently, the MFBs have about twenty eight banks across the state with about two thousand staff and close to thirteen thousand, four hundred and thirty eight civil servants and pensioners banking with the banks in only fifteen MFBs that they are able to capture as at Tuesday 25th, February, 2020.

He also told newsmen that it is on record today that most parts of the state are without the presence of commercial banks which will in turn be stressful for civil servants to enjoy the desirable banking services of their salary accounts are moved from their immediate environment.

The state government had earlier directed its workers that are operating microfinance banks for their salary account, to immediately open accounts in commercial banks.

The Commissioner of Finance, Mrs Commissioner Florence Oyeyemi, told newsmen in Ilorin recently that the directive became necessary to ease process of salary payment and avoid technical errors which could cause unnecessary delay in workers getting their entitlements, as at when due.

"All Kwara state civil servants are mandated to open salary account with commercial banks between February 5 and 18,2020 for the purpose of salary payments as payment will no longer be made to any Microfinance bank account," she said.

The commissioner also said that the issue was in line with the agreements in place as negotiations on the payment of the new minimum wage reached an advanced stage.

Meanwhile, most of the affected civil servants on Thursday stormed the affected microfinance banks in the state to abide fully by the directive of the state government and possibly offset their debts which is the only condition whereby their February salaries would be paid.

Source

 


Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Kwara Volleyball Association     Sanusi Abubakar     Ayobami Seriki     Oko Erin     Adeola Abraham     Bello Taoheed Abubakar     Ahman Patigi     Adaramaja     Elerinjare-Ibobo     Taiwo Joseph     Gambari     Ojo Fadumila     Lanre Olosunde     Abdulfatai Salman Baakini     LABTOP     Suleiman Ajadi     IQRA College     Shehu Jimoh     Oniyangi Kunle Sulaiman     Ahmad Olanrewaju Belgore     NITDA     Clara Nwachukwu     Olaitan Adefila     IYA ALFA NLA     Ibikunle Ogunleye     Kwara Politics     Yakubu Gobir     Sam Onile     Saduki Lafiagi     JMK Construction Company Limited     Ishaq Abdulkarim     Sherif Shagaya     Shagari     Olomu     Kwara-SAPZ Project     Mahfouz Adedimeji     Oke-Oyi     Dauda Adesola     Ejidongari     Yaru     Shade Omoniyi     Abdulrazaq Sanni     Shoprite     Abdulmajeed Abdullahi     Siraj Oyewale     Tunde Oyawoye     Balikis Jawondo     Emir Of Lafiagi     Olatomiwa Williams     Isaac Aderemi Kolawole     ARMTI     Abdulrauf Yusuf     Eleja Taiwo Banu     Kayode Ishola     Arandun     Ijakadi     Earlyon Technologies     BECE     Halidu Danbaba     Bisi Kristien     Dan Iya     NTA Ilorin     Opobiyi     Alabi Lawal     HAMFAT Clinic And Maternity     Oke-Kura     Lukman Adeloyin     TIIDELab     Rasheed Jimoh     Babata     Bolaji Abdullahi     Simeon Ajibola     Hassan Saliu     Sa\'ad Alanamu     Abraham Ojo     Amuda Musbau     Bola Magaji    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Solomon Edoja     Okin High School     TESCOM 2025     Muhammad Yahya     Sa\'adu Salau     Kwara State Internal Revenue Service     Firdaos Amasa     Park     Hydroelectric Power Producing Areas Development Commission     Muslim Stakeholders Of Kwara State     Ekweremadu     Abdullahi Saadudeen Alikinla     Fatima Abolore Jimoh     Toun Okewale-Sonaiya     Muritala Olarewaju     Saheed Popoola     Modibo Kawu     Umar Yakubu Jaja     Jimba Babatunde     Lawal Jimoh     Michael Ologundea     Taofik Abdulkareem     Innocent Okoye     Oju Ekun Sarumi     Split Diamond Interchange     Iyabo Adewuyi     Bature Bello     Olabimpe Olani     Mahmud Durosinlohun Atiku     Olaitan Buraimoh     Taofik Abdulkareem Babaita     Kolade Solagberu     Arik     Modibbo Kawu     Isiaka Danmeromu     Oluronke Adeyemi     Bello Taoheed Abubakar     C2c@kwarastate.gov.ng     Ella Supreme Tissue Paper     Paul Olawoore     Ahmad Olanrewaju Belgore     Kwara Restoration Project     Aliyu Muhammad Saifudeen     Musa Aibinu     Ahman Patigi     Yusuf A. Usman     Jamila Bio Ibrahim     Sun Qing Rong     Ezekiel Yissa Benjamin     Saad Omo Iya     Kaosarah Adeyi     Rafiu Ibrahim     Niyi Osundare     Obuh     Ibrahim Agboola Gambari     Bashiru Makama     Elerin Of Adanla Irese     Abdulfatah Ahmed     Aliyu Umar     Adamu Jemilat-Baki     Doyin Awoyale     Mohammed Jimoh Faworaja     Aisha Abodunrin Ibrahim     Press Release     Samuel Adedoyin     SWAN     Muslim Media Watch Group Of Nigeria     Habeeb Saidu     Sunday Fagbemi     Ganmo Power Sub-Station     New Nigeria People’s Party     Yakubu Shaaba     Bilikis Oladimeji     Hussein Olokooba     Ado Ibrahim     CCB     Bilikisu Oniyangi