Urhobo Progress Union Gets Microfinance Bank

Mr Moses Taiga, the President-General (PG) of Urhobo Progress Union (UPU), says the proposed Urhobo Microfinance Bank (MFB) will start operation in the second quarter of 2019.

The PG of the umbrella body of the Urhobo ethnic nationality said this on Thursday at a “Meeting of PGs of the 24 Urhobo Kingdom Forum” held at Effurun, Uvwie Local Government area of Delta.


Addressing newsmen shortly after the meeting, Taiga said the union had started perfecting the necessary arrangements to secure the licence before May 2019. He said the bank would have been functional before now and attributed the delay to the directive of the Central Bank of Nigeria (CBN) which stopped the issuance of operational license to prospective investors in the sub-sector.


“The Urhobo MFB would have taken off before now, but CBN closed the gate of granting licenses. Now that it has given the go ahead, by May 2019, the bank will become operational,” he said.

From pm news

*Urhobo wa dooooooooooooooooooooooooooh