Alex Ekwueme Federal University Launches AE-FUNAI Microfinance Bank

In a momentous occasion marked with jubilation and anticipation, Alex Ekwueme Federal University Ndufu-Alike (AE-FUNAI) in Ebonyi State inaugurated its very own financial institution, the AE-FUNAI Microfinance Bank Limited. The grand opening, which took place on Wednesday, April 3rd, 2024, was celebrated by staff, students, and the surrounding community as a significant milestone in the university's journey.

Under the visionary leadership of Prof. Sunday Elom, the Vice-Chancellor, and with the support of past leaders like Prof. Chinedum Nwajiuba and the late Prof. Mba Uzoukwu, the AE-FUNAI Microfinance Bank Limited was granted operational license by the Central Bank of Nigeria, culminating a five-year endeavor. 

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Addressing the gathering, Prof. Elom expressed gratitude for the realization of this long-awaited dream, acknowledging the resilience and transparency exhibited by the bank's management team. He highlighted the strategic decision of the university to route all payments through the bank, a move aimed at easing banking transactions for staff and students.

Mr. Cornelius Offia, the Managing Director/Chief Executive Officer of the Bank, outlined the institution's strategic vision and corporate mission, emphasizing its commitment to providing world-class microfinance services to foster entrepreneurship and economic development.

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Representatives from the Central Bank of Nigeria and other banking institutions applauded the university's initiative, recognizing the AE-FUNAI Microfinance Bank Limited as a significant addition to Ebonyi State's financial landscape. The Branch Controller encouraged the bank to innovate and adhere to regulatory standards to excel in a competitive market.

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The launch also saw pledges of support from stakeholders like the AE-FUNAI Multipurpose Cooperative Society and promises of collaboration from established banking entities like First Bank of Nigeria Plc.

With its focus on innovation, accessibility, and customer satisfaction, the AE-FUNAI Microfinance Bank Limited emerges as not only a financial institution but a catalyst for economic empowerment and community development in Ebonyi State.