One Year in Operation: AKSU Microfinance Bank Limited Reflects on Progress

Akwa Ibom State University (AKSU) Microfinance Bank Limited has marked its first anniversary with an Emergency General Meeting of shareholders and stakeholders at the University Auditorium, Main Campus, Ikot Akpaden, Mkpat Enin Local Government Area, on Wednesday, August 6, 2025.

The meeting provided an avenue to assess the bank’s performance and outline future growth strategies.

Chairman of the Board of Directors and Immediate Past Vice-Chancellor of AKSU, Prof. Nse U. Essien, highlighted the bank’s significant achievements since it began operations on July 1, 2024. He noted growth in assets and customer base, as well as full automation of its services, which include mobile app banking, internet banking, USSD transactions, ATM cards, and POS merchant services. Prof. Essien emphasised the bank’s strategic advantage as the sole financial institution in the largely unbanked areas of Mkpat Enin and Onna Local Government Areas, serving AKSU, the Federal University of Technology, Ikot Abasi (FUTIA), Sterling Global, and staff of various local government councils.

Managing Director and Chief Executive Officer, Mr. Eliada A. Effiong, described the anniversary as a period of reflection, evaluation, and renewed commitment to delivering sustainable and innovative financial solutions.

He reaffirmed that the institution is grounded in integrity, competence, accountability, respect, and excellence, and expressed appreciation to shareholders, the board, management, staff, and customers for their contribution to the bank’s success. The event was attended by members of the board of directors, shareholders, deans of faculties, heads of departments, members of the university community, valued customers, and staff of AKSU and the bank.