Kwara Polytechnic Seeks CBN Licence for its Micro Finance Bank

Hammed Shittu in Ilorin

The Management of the Kwara State Polytechnic, Ilorin has appealed to the Alumni Association of the institution to come to the aid of the institution so as to get operating license for its Micro Finance Bank from the Central Bank of Nigeria (CBN).

The Rector of the institution, Abdul Jimoh Mohammed made the appeal in Ilorin on Thursday on the sideline of the 50th year anniversary of the Polytechnic.

He said that obtaining the operating licence from the CBN for the instution’s Micro Finance Bank would go a long way to boost the economic status of the Polytechnic.

According to him, “In realisation of its economic benefits to staff and Polytechnic community, the management established the Kwara Polytechnic Micro Finance Bank. All necessary steps have been taken towards the take-off of the project. We have opened an account at Keystone Bank (the parent bank for the MFB). And at present, our application for operating licence awaits CBN approval”.

Mohammed who urged the members of the Alumni Association of the institution to come to the aid of the institution to get the CBN approved operating licence said that, such assistance would go a long way of advancing the benefits that the institution community would get from the approval.

Also speaking, the protem National President of the Kwara State Polytechnic Worldwide Alumni Association, Engineer Abu Salami said that, the members of the Association would rise to the appeal so as to boost the economic status of the institution.

Salami also said that, the Alumni Association has planned to establish Almuni Village that would go a long way of boosting the economic status of the Association. 

He said that, “the village would cost a sum of N150million and it will have a good model rooms, worship centres, car park, conference hall among others.”