Redeemer’s University Microfinance Bank Targets Bridging Financial Gap, Promoting Economic Growth, Says MD

Yinka Kolawole in Osogbo

The pioneer Managing Director of Redeemer’s University Microfinance Bank plc, Mr. Abiodun Peter Durowoju, yesterday posited that the newly established institution’s Bank aimed to bridge financial gap, and promote economic growth and improve the well-being of communities.

Speaking at the grand opening ceremony of the Microfinance Bank in Ede, Osun State, the Managing Director said that the bank would serve as a pioneer initiative in Microfinance and financial inclusion.

According to him “today marks a significant milestone in the journey to empower individuals, families, small and medium enterprises, and communities through access to financial services.

Durowoju who expressed appreciation to the Vice-Chancellor of the institution, Professor Shadrach Olufemi Akindele and and the management of the Redeemer’s University promised to discharge his duties with the fear of God and with all humility and professionalism to achieve the vision of the Bank in line with the strategic plan.

Also speaking at the occasion, the Vice-Chancellor, Professor Shadrach Olufemi Akindele noted that “the Bank is a Christian Faith based Microfinance Bank that was established to run with the fear of God, integrity of purpose and timely tested principles of the word of God.”

The Vice-Chancellor stressed that the mission of the management is to provide access to financial services for students, staff and local communities, promoting economic growth and well-being.

He emphasised that the Microfinance Bank was a testament to the University’s dedication to fostering socio-economic development.

Professor Akindele also made it clear that RUN Microfinance Bank is more than just a financial institution, it is a hub for financial education, innovation and empowerment.

However, the Chairman, Board of Directors of the Bank Dr. Daniel Ogun promised to move the bank from unit Microfinance Bank to state and national bank, respectfully.

He said the management did not take the responsibility of driving the enterprise to profitability and sustainability lightly, because a lot was at stake.