AMAC Microfinance Bank opens in Gwagwa

The chairman of Abuja Municipal Area Council (AMAC), Abdullahi Adamu Candido, has commissioned the Gwagwa branch of AMAC Microfinance Bank. The branch was commissioned three months after the FCT Minister, Muhammad Musa Bello, opened the bank’s head office in Area 10, Garki. He said the bank was located in the area to benefit those residing […]

The chairman of Abuja Municipal Area Council (AMAC), Abdullahi Adamu Candido, has commissioned the Gwagwa branch of AMAC Microfinance Bank.

The branch was commissioned three months after the FCT Minister, Muhammad Musa Bello, opened the bank’s head office in Area 10, Garki.

He said the bank was located in the area to benefit those residing around Gwagwa “especially the business operators in this market.”

“I, therefore, call on all small scale business owners, artisans, petty traders and individuals to come forward and patronize the bank,” he said.

He urged the residents to maximise the advantages of having a bank in their domain to meet the day to day running of their businesses, adding that accessing loans would now be easier for them.

“Equally the bank is opened to farmers to have access to loans to help them purchase good seedlings and other farming equipment to increase production,” he said.

He reiterated that the bank is purely an independent financial institution, as such “no one will be allowed to politicize it. It is meant to serve local traders, grant them access to loans to enhance their businesses with a view to better their lives,” he said.

The bank’s board of directors’ chairman, Emmanuel Ohakim, said residents should own and enjoy the bank as it could transform financial activities in the area.

“We have special services for their benefits like structured micro credits and loans between N10,000 and N250,000 depending on the need of their businesses and capacity to pay back,” he said.

One of the residents, who is chairman of Gwagwa Market Traders, John Ogwu, said with the commissioning of the bank, traders need not go to Deidei to access banking services.