ADUN Nigerian Navy Microfinance Bank Relationship Centre has Begun Full Operations, Says manager

The Nigerian Navy Microfinance Bank, Admiralty University of Nigeria (ADUN) Relationship Centre has commenced full operations at the university’s permanent site in Ibusa, Delta State.

The Manager of the Relationship Centre, Miss Christiana Ejembi, disclosed this during a media chat in her office, where she called on the university community, host community and members of the public to patronise the bank for their financial needs.

Ejembi explained that the ADUN Relationship Centre provides a wide range of banking services and financial products to individuals, businesses, university staff and other members of the public.

According to her, the bank offers savings accounts, current accounts, Kiddies accounts, corporate accounts and group savings schemes.

She added that other services available at the centre include fixed deposit investments, asset acquisition financing and students’ loans, which are guaranteed by their parents or guardians.

The Manager further disclosed that salary earners can access salary advances, while small and medium-scale enterprises can benefit from business expansion loans.

She noted that contractors can also access Local Purchase Order financing and Advance Payment Guarantee facilities through the bank.

Ejembi said the bank would provide significant financial benefits to staff of Admiralty University of Nigeria and members of the general public.

She disclosed that ADUN staff accessing loans from the Nigerian Navy Microfinance Bank would enjoy an interest rate of three per cent, with a repayment period of 12 months and an option of extending the duration to 24 months.

The Manager commended the Nigerian Navy for its initiative to establish the microfinance bank at Admiralty University of Nigeria.

She also appreciated the Vice-Chancellor and Management of ADUN for providing land for the establishment of the bank, as well as the numerous forms of support provided towards the successful establishment and operation of the Relationship Centre.