Redeemer’s University Inaugurates Microfinance Bank
Redeemer’s University, Ede, Osun State, has inaugurated its RUN Microfinance Bank Ltd within the university premises. The Vice-Chancellor, Prof. Shadrach Akindele, represented by his Deputy, Prof. Ahmed Yerima, stated that the bank aligns with the university's mission to promote financial inclusion and economic empowerment for students, staff, and the local community.
Chris Oyeoku Okafor 
The Redeemer’s University, Ede, Osun State, has officially inaugurated its microfinance bank, RUN Microfinance Bank Ltd. The bank, which is located within the premises of the university, was launched during a ceremony held on Tuesday, marking a significant step in the institution’s drive towards financial inclusion and empowerment.
Speaking at the inauguration, the Vice-Chancellor of the university, Prof. Shadrach Akindele, emphasized that the establishment of the bank aligns with the university’s commitment to supporting economic growth. Prof. Akindele, who was represented by his Deputy, Prof. Ahmed Yerima, highlighted that the microfinance bank is a Christian faith-based institution that will be operated with integrity and the fear of God.
“Our mission is to provide access to financial services for our students, staff, and local communities, promoting economic growth and well-being,” Akindele said. He also noted that the bank's opening further demonstrates the university’s dedication to fostering socio-economic development.
In his remarks, Dr. Daniel Ogun, Chairman of the Board of Directors of the bank, assured stakeholders of leadership based on integrity, transparency, and accountability. He stated, “We promise to create a work culture of Christian ethics, and integrity, and ensure effective management oversight. All our stakeholders, staff, and management shall be held accountable and responsible to our creed of core values.”
Dr. Ogun also revealed plans to expand the bank, with a vision to transition from a unit microfinance bank to a state and eventually a national bank.
Mr. Abiodun Durowoju, the Pioneer Managing Director and Chief Executive Officer of RUN Microfinance Bank, described the launch as a major milestone in the effort to empower the residents of Osun State. He noted that the bank aims to bridge the financial gap and support economic development in the local communities.
“Our target is to empower individuals, families, small and medium enterprises, and communities through access to financial services,” Durowoju said. He added that the bank is committed to offering affordable, convenient, and innovative financial solutions tailored to the needs of its clients.
The inauguration of RUN Microfinance Bank marks a new chapter for Redeemer’s University in its quest to support financial empowerment and economic growth in the region.
