Nwannegadi Microfinance Bank Limited

RC 624560

“To promote socio-economic interest through the provision
of RESOURCEFUL MICROFINANCE SERVICES to
a spectrum of clients in our catchments area”

Brief  Profile of
NWANNEGADI MICROFINANCE BANK LTD

Nwannegadi Microfinance Bank Limited was incorporated on May 20, 2005 by the Corporate Affairs commission, Nigeria as a limited liability company with its head office a 51 BSC Road, Umuafor, Orlu.  It obtained a banking license from Central Bank of Nigeria (CBN on December 27, 2006 and commenced microfinance banking business on January 22, 2007.  The inauguration ceremony was performed by former Governor of Imo State, His Excellency Chief Dr. Achike Udenwa, under the chairmanship of His Lordship Most Reverend Dr Gregory Ochiagha (Bishop emeritus of Catholic Diocese of Orlu).

Since inception, the Bank has provided excellent banking services and hence contributed to the economic growth and development of Orlu and its environs.  It recorded a very impressive growth and currently occupies a prominent position in the Imo State and Nigeria microfinance banking industry.

Today, the bank has secured the approval of the Central Bank of Nigeria as the first State Licensed Microfinance Bank in Imo State. It maintains a decentralized structure with the establishment of three regional offices to enhance its operational efficiency.  The three regional offices are: Orlu Regional Office with Its Office at CWO Building, 51 BSC Road Orlu, Owerri Regional Office, located at Plot C15 Ikenegbu Layout Extension, opposite Imo State Fire Service by Mbaise Road, Owerri, and Okigwe Regional Office which is still in view.

Other achievements worthy of mention include: the best institution in the practice of core micro-financing in the South East of Nigeria by Nigeria Deposit Insurance Corporation (NDIC) in 2008, Opened 8 offices including the Head Office within the short period of its existence.  Today, the clientele base of the bank has risen to over thirty-two thousand (32,000) traders, artisans, salary earners, micro, small and medium scale entrepreneurs who are currently enjoying the dynamic micro credit/ savings / insurance products of the bank, with staff strength of seventy-five (75) personnel. Launched four viable subsidiary arm – Nwannegadi Training Centre, Nwannegadi /TNT Courier Services, Keke Nwanne and Rice Nwanne for committed poverty eradication agenda for the active poor within its catchments areas and beyond,

The board of directors is headed by His Lordship, Most Rev Dr. Augustine T. Ukwuoma, other members include Very Rev Fr Dr Patrick Obinabu, Very Rev Monsignor John Ukwuoma, Her Excellency Dr Mrs. Theresa A. Udenwa and Mr. Olowoye Olumide A (MD/CEO.

Apart from bringing financial services nearer to the rural dwellers the Bank equally contributed immensely in employment creation in Imo State. Our goals are quite evident in the bank’s activities as we endeavour to sustain our significance in the Nigerian Microfinance industry. We have perfectly structured our growth plan to extend our services across all twenty-seven (27) local government areas in Imo State through branch expansion network.

The bank has since been making enormous contributions to the growth and development of the people by creating access to finance to the un-banked and has undoubtedly, achieved its aim of maintaining its leadership position in the finance world of the South-East, Nigeria.

BOARD MEMBERS AND THIER PROFILE
MOST REV DR. A. T. UKWUOMA
CHAIRMAN

MOST REV.DR.A.T.UKWUOMAHis Lordship, Most Rev. Dr. Augustine T. Ukwuoma has been on vanguard of God’s vineyard for over 27 years. Born on August 29, 1953 and ordained a catholic priest on July 30, 1983, he was ordained as the Bishop of the Catholic Diocese of Orlu on 21st day of June 2008.

He holds a Bachelors degree in Philosophy (1979) and Bachelors degree in Theology (1982) from the Bigard Memorial Seminary Ikot Ekpene (1979), a Masters degree from the Loyola Mary Mount University Los Angeles (1994) and a Doctorate degree from the University of Akron, Ohio United States.

Some of the previous positions held prior to his office as the Catholic Bishop of Orlu includes the Administrator Holy Trinity Cathedral Orlu (1992), Associate Pastor St. Ignatius Parish Los Angeles (1994), Priest in Residence Annunciation Parish Akron Ohio (1999), Hospital Chaplain St. Joseph’s Hospital Savannah Georgia (2002), Dean St. Theresa Pastoral Region Uli (2008), Rector St. Theresa Parish Uli (2008), Lecturer, Seat of Wisdom seminary Owerri (2008).

He is a member of the Faculty Examination Board, Vicariate (2008), Head of Silver Jubilee Souvenir Committee of Orlu Diocese and President Association of Priests and Religious of Isu Clan (APRIC).

MR. OLUMIDE A OLOWOYE
MANAGING DIRECTOR/CEO

NWANNEGADI CEOHe is a skilled and experienced banker who major in administering micro-finance institutions.
Olumide Abiodun Olowoye holds a Post Graduate Diploma in Accounting from Lagos State University (2004), Higher National Diploma in Accounting from Osun State College of Technology, Esa –Oke (2001) and a National Diploma in Financial Studies (1998).
With over twelve (12) years experience in the Banking and Microfinance sub-sector, he began his finance career at First Bank of Nig. Plc, Career Development Unit & resigned as the Bank’s Accountant from Izzi Community Bank Limited. Prior to his appointment as the Managing Director / Chief Executive Officer of Nwannegadi Microfinance Bank Limited and served as a renowned Information Technologist and Management Consultant for Small Financial Institutions in the Eastern Part of Nigeria.
He is a certified microfinance administrator with international practical exposures at the School of Applied Microfinance, Kenya (2009) and Boulder Microfinance ITC/ILO Turin-Italy (2010).

Prince Olumide Abiodun Olowoye is a Chartered Manager and a full Member of the Nigeria Institute of Management (Chartered), a Fellow of the International Institute of Micro Credit Administration, Italy, an Associate Member of the Risk Management Association of Nigeria, a Member of the Chartered Institute of Bankers of Nigeria, a Microfinance Certified Banker by the Central Bank of Nigeria/ Nigeria Deposit Insurance Corporation and the incumbent president of the International Institute of Micro-credit Administration, Nigeria.

VERY REV.FR. (DR) PATRICK C.OBINABU

Rev.Fr.Patrick C.ObinabuBorn on the 17th day of March 1951 and Ordained a Catholic Priest on the 28th of September 1986; Very Rev. Fr. (Dr) Patrick C. Obinabu obtains a Bachelor’s degree in Theology Bigard Memorial Seminary Enugu         in 1985, a Master in Pastoral Studies in the year 1998 at the Loyola University New Orleans USA and his doctorate degree in Ministry in the year 2001 at Bam University Miami USA          .

He is a scholar with an academic Honour in Alfa Sigma Nu of Jesuit Academic Institutions (1998) and the Diocesan Financial Administrator of the Catholic Diocese of Orlu up till January 2009.

Presently, he is the Dean of the Saint Gregory Region of the Catholic Diocese of Orlu.

Since his ordination he has been a Member of the Advisory Board (1989-1996), Member of Presbyterian council (1989-1996), Chaplain Diocesan Catholic Women Organization (1989-1996), Bishop’s Secretary and the Head of the Chancery Admin (1989-1996), Bishop’s Assistant Secretary (1988-1989) and Pastor. St. Mary’s Parish Umuowa & Academic Dean, St.Mary’s Seminary Umuowa (1986-1987) He is a director and currently the Chairman, Board Credit Committee of the Bank.

Born on the 12th day of December 1945 and was Ordained as a Catholic Priest on the 28th day of April 1973, He holds a academic qualification as follows a PhD (Ed.) Personnel Mgt from Pe pperdine University L.A. California USA (1985) following his M.E.D (Administration) M.A. Counseling /Guidance from the Loyola Marymount University, California USA (1982) and a bachelors degree in Philosophy from Bigard Memorial Seminary Enugu (1966).

He is a gem with professional experience both within and outside the Country who take great delight in motivation and awareness of self actualization.

Since his ordination, Very Rev. (Msg) John Ukwuoma was exposed to the following employment outside his ecclesiastical circle: St. Mary’s Academy. Los Angeles USA(1981-1982), Member Board of Governors, B.S.C. ( 1976-1980), Vice-Chairman, Board of Directors Agro Rice, 2nd Signatory, Board of Directors, Uli Community Bank Ltd (1992 to date). He is a director and the Chairman Board, Audit Committee of the Bank.

VERY REV. (MSG) JOHN UKWUOMA
DIRECTOR

nwannegadi_clip_image012Born on the 12th day of December 1945 and was Ordained as a Catholic Priest on the 28th day of April 1973, He holds a academic qualification as follows a PhD (Ed.) Personnel Mgt from Pe pperdine University L.A. California USA (1985) following his M.E.D (Administration) M.A. Counseling /Guidance from the Loyola Marymount University, California USA (1982) and a bachelors degree in Philosophy from Bigard Memorial Seminary Enugu (1966).

He is a gem with professional experience both within and outside the Country who take great delight in motivation and awareness of self actualization.

Since his ordination, Very Rev. (Msg) John Ukwuoma was exposed to the following employment outside his ecclesiastical circle: St. Mary’s Academy. Los Angeles USA(1981-1982), Member Board of Governors, B.S.C. ( 1976-1980), Vice-Chairman, Board of Directors    Agro Rice, 2nd Signatory, Board of Directors, Uli Community Bank Ltd (1992 to date). He is a director and the Chairman Board, Audit Committee of the Bank.

DR. (MRS.) THERESA A. UDENWA
DIRECTOR

nwannegadi_clip_image014Udenwa Theresa Agbonma (Phd.) is a highly accomplished academician who holds a bachelors degree in Economics at the University of Nigeria Nsukka (1980), Masters in Business Administration in Finance, University of Port Harcourt (1989), Masters in Economics, University of Port Harcourt (1996) and a doctorate degree in Banking & Finance from the Rivers State University of Science and Technology (2007)

Prior to her position as the First Lady of Imo State between May 1999 and May 2007, Her Excellency Theresa Agbonma Udenwa was a lecturer at the Rivers State University of Science and Technology from 1981 to 1999.

She is currently the Head of Department of Banking & Finance in Nasarawa State University and the Chairman Board of Trustees of a non-governmental organization known as ‘Heartland Childcare Foundation established in the year 2000 to empower less privileged in the society.

She is a member of Chartered Institute of Bankers of Nigeria and the Nigerian Economic Society, a rare gem whose efforts in community development and public service have been appreciated by various academic leadership and administrative positions in Nigeria and Diaspora.

COMPANY INFORMATION:

STATUS: Private Limited Liability Company

INCORPORATION DATE: 20Th May 2005

CERTIFICATE NO.: RC 624,560

CBN FINAL LICENSE NO.: No. 00005 of 27th December, 2006

LICENSE CATEGORY: State License Microfinance Bank

MAJOR BUSINESS: Microfinance Banking

REGISTERED OFFICE: 51 Bishop Shenaham College (BSC) Road Orlu, Imo State

DIRECTORS:

Most Rev. Dr. Augustine T. Ukwuoma Chairman
Very Rev Fr. (Dr.) Patrick C. Obinanbu Director
Very Rev (Msgr.) John Ukwuoma Director
Dr. (Mrs. ) Theresa A. Udenwa Director
Olumide A. Olowoye (MFA) MD/CEO

COMPANY SECRETARY: Ukata, Ben-Hope N

MANAGEMENT TEAM:

Olumide Olowoye MD/CEO
Christian Okwuba Head, Operations
Emmanuel Emumejakpo Head, Audit
Ben-Hope Ukata Head, Admin/ Board Sec.
Juliet Okafor Head, Credit & Mkt.
Blessing Iwuoha (Mrs.) Head, Risk Management
Justin Onuoha Head, ICT

BRANCH MANAGERS

Obi Ngozi Peace International Market Branch
Martins Everista O. Amaifeke Branch
Osuchukwu Uloma Nkume Branch
Ibezim Peace C. Umuaka Branch
Obilor Emmanuel E. Owerri Main Branch
Mark Maria U Amiri Branch
Obi Juliet C. Akokwa Branch

OFFICE NETWORK

Head Office:
No. 51 BSC Road,
CWO Building (1st Floor),
Umuafor – Orlu LGA, Imo State.

Orlu Regional Office
No. 51 BSC Road,
CWO Building (1st Floor),
Umuafor – Orlu LGA, Imo State

Orlu Main Branch
No. 51 BSC Road, CWO Building (1st Floor),
Umuafor – Orlu LGA, Imo State

Amaifeke Branch
Beside St. Mary Catholic Church
Amaifke, Orlu LGA

International Market Branch
Imo State Int’l Market
Orlu LGA, Imo State

Nkume Branch
Nkume Junction
(Beside St. Michael Cath. Church)
Nkume, Njaba LGA, Imo State

Umuaka Branch
Opposite Afor Umuaka
(Beside St. Mary’s Cath Church)
Umuaka, Njaba LGA, Imo State

Amiri Branch
Beside Main Hall
St. Paul’s Catholic Parish
Amiri, Oru-East LGA, Imo State

Akokwa Branch
In front of
St. Barnabas Catholic Parish
Orie Okokwa, Ideato North LGA
Owerri Regional Office
Plot C 15, Ikenegbu Layout Extention
Opp Fire Service by Mbaise Road Owerri

Owerri Main Branch
Plot C 15, Ikenegbu Layout Extension
Opp Fire Service by Mbaise Road Owerri

Telephone Lines: 08037153797, 08057469338,
046665133, 046665134, 046664759, 046665590

Email: nmfbank@yahoo.com

Website: www.nwannegadibank.com

PRODUCTS & SERVICES

MICRO BANKING

Micro Banking involves Savings and Thrift Accounts,

NMF Savings Account
This is a regular-like savings account specifically designed for all class of depositors whether individual or group of individuals or corporate institutions.
Features:

A Savings Account
Free financial / investment advisory services
Attractive interest rate
Can serve as a basis for credit application
Cash / cheque pick – up services rendered at convenient arrangement
Minimum Balance of N2000 at all times
Third party withdrawal allowed on special pre-arranged instrument
Allow standing order

NMF Esusu Thrift

This is specifically designed for petty traders, artisans and other individual depositors who are willing to make regular deposits on a daily, weekly monthly or yearly basis for trade expansion or unforeseen contingencies.
Features:

Operates like a savings Account
Cash pick-up arrangement at no additional cost
Minimum cost
Term / deposit amount for the period to be decided by the depositor
Can serve as a basis for credit appraisal
Free financial advisory services
Attractive interest rate on outstanding performances

MICRO CREDIT LOANS:

Micro credit loan is a source of loan facility in which we make finance available to small and medium scale business; by this we mean petty traders, artisans, small scale manufacturers, farmers’ etc. Usually it is a soft loan without the complication of rigorous documentation and demand for asset based collaterals. Micro credit loans are designed to alleviate poverty, create employment and boost economic activity from grass root and enhance small and medium scale business ventures.
Features:

Good turnover of account, one month prior to Application

The credit will run for the period of 6 months
Two Guarantors
Double Rollover opportunity
Less interest rate
Security added advantage

SME BANKING

SMe Banking involveS Current Account

NMF CURRENT ACCOUNT

This is a regular –like current account specifically designed for individual, groups of individuals, society, churches and corporate institutions.

Features:

A Current account
Minimum cost
Two (2) days value on cheques / drafts
Cash / cheque pick – up
Minimal cost of standardized / attractive cheque book
Allow standing order
Allows dividend warrant and third party withdrawals
Minimum Balance of N5000

SME LOANS:

This segment is categorized. They include conventionally rated credit products like equipment leasing, agricultural financing, LPO/Project financing, share purchase loan, building, etc of which the limit of credit amount is opened and rated based on applicants appraised capacity and could run on a maximum period considered adequate

Features:

Good turnover of account for 3 months prior to Application
Two Guarantor and tangible collateral/Security
Maximum Amount Negotiable
Facility rollover allowed
Less interest rate

INVESTMENT BANKING

INVESTMENT BANKING INVOLVES FIXED DEPOSIT AND BUMPER PLACEMENT

NMF FIXED DEPOSIT ACCOUNT

It is an investment deposit account specifically designed for depositors who are willing to save free accessible funds for unforeseen contingencies and earnings at a higher rate.
Features:

Attractive / negotiable interest rate
Can be used as a collateral / Security for credit facilities
Minimum investment of N50,000.00
Option allowed for interest payment (Upfront or Back-end)
Free financial /Investment advisory services

BUMPER PLACEMENT

Is an investment deposit account specifically also designed for depositors who are willing to save or fix their money for the period of six months at an attractive rate.
Features:

Minimum investment of N250,000.00 for the period of Six months
Attractive /negotiable interest rate
Can be used as a collateral / Security for credit facilities
Option allowed for interest payment (Upfront or Back-end)

LOCAL MONEY TRANSFERS

This product is designed to assist the bank’s customers receive or send out money through the bank’s correspondent banks in any part of the country. The customer can cash the money immediately the bank receives alert on such transaction from any of the branches.

Nwannegadi Training Centre

The initiative of Nwannegadi Training Centre an affiliate of the International Institute of Micro-Credit administration, Italy was set up to provide learning opportunities for microfinance bankers, workers, graduates and undergraduates in pursuing a certificate programme in microfinance studies, business studies and computer studies. The programme is structured in such a way to provide the graduates of the centre an ample opportunity to be gainfully employed in microfinance bank, other fields or self-employed.

Nwannegadi TNT/IAS COURIER SERVICES:

This enables the customers and others to send their vital documents through the bank’s joint venture with TNT/IAS Courier Services to their desired destination without any fear of loss and the document/parcel are sent with promptness and on time.

Keke Nwanne

The product is youth empowerment programme designed to help young men acquire tricycles (popularly called Keke) through hire purchase initiative of the bank. The product is designed to offer such facility to help the customers own their own tricycle and be able to employ themselves.

Rice Nwanne

The aim of this product is to force prices of rice down during the festive periods such as Christmas and Easter. During these festive seasons, the prices of rice usually go up as every household buys rice for such celebrations. It is a measure so designed to control prices of rice and make them affordable to every family during those seasons.

Ukata, Ben-Hope N
Head of Administration.

 

 

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