AKSU Microfinance Bank Fully Digital, Opens Operations to the Public

The Akwa Ibom State University (AKSU) Microfinance Bank (MFB) has officially gone fully digital and commenced operations for the public.

This was disclosed by the Managing Director of the bank, Mr. Eliada Effiong, during a courtesy visit to the Acting Vice-Chancellor of the University, Prof. Otoabasi E. Akpan, on Friday, September 26, 2025, at the Vice-Chancellor’s Conference Room, Main Campus, Ikot Akpaden, Mkpat Enin Local Government Area.

In his remarks, Prof. Akpan commended the management of AKSU MFB for their dedication to banking excellence and alignment with the University’s vision. He described the development as a major milestone for the institution, coming more than a decade after its establishment. The Acting Vice-Chancellor encouraged all principal officers of the University to domicile their accounts with the bank and consider becoming shareholders. He also revealed that newly created centers in the University would have their take-off grants disbursed through the microfinance bank.

“With over 13,000 students and staff on campus, the bank will be well patronized,” Prof. Akpan assured, stressing that the institution would support the bank in achieving its full potential.

Mr. Eliada Effiong, in his address, expressed gratitude to the Acting Vice-Chancellor and his team for their consistent support. He noted that AKSU MFB has made remarkable progress and is now fully digitalized, offering internet and online banking services alongside other user-friendly facilities. He stated that the purpose of the visit was to formally introduce the bank’s leadership to the Vice-Chancellor and to congratulate him on his recent appointment.

The event also featured the presentation of a gift to the Acting Vice-Chancellor and group photographs to mark the occasion.

In attendance from AKSU MFB were Mrs. Glory Jonah, Head of Finance and Administration; Mr. Victor Usatt, Head of Finance and Operations; Mr. Enobong James, Head of Credit and Marketing; and Mr. Ikpe Obongodiong, Head of Compliance and Internal Audit.

Representatives of the University included Mr. Seun Lawal, Principal Assistant Registrar and Head of Administration, Vice-Chancellor’s Office; and Mr. Gabriel Otu, Head of the Directorate of Information, Public Relations and Protocol, alongside other staff of the Directorate.