The Pro-Chancellor, Admiralty University of Nigeria (ADUN), Vice Admiral Victor Ombu (Rtd.), has said the establishment of the Nigerian Navy Microfinance Bank by the university would stimulate development within the institution and its host community.
Vice Admiral Ombu who stated this during the official commissioning of the Nigerian Navy Microfinance Bank at the University in Igbuzor, Delta State commended the Supervising Director of the Nigerian Navy Microfinance Bank Limited, Navy Captain Odihi Ikwuyatum, for initiating the idea.
According to him, the new microfinance bank, the Faculty of Environmental Sciences project, and other ongoing developments would position the university for global excellence.
Speaking at the foundation-laying ceremony, the Vice-Chancellor, Professor Ogbogbo, expressed gratitude to God and the university management for the steady growth of the institution.
He described the establishment of the Nigerian Navy Microfinance Bank as a major milestone for the university.
The Vice-Chancellor said the bank would strengthen the institution's financial ecosystem and attract more investment and development to Delta State.
Earlier, the Supervising Director of the Nigerian Navy Microfinance Bank Limited, Navy Captain Odihi Ikwuyatum, highlighted the bank's growth since its establishment.
The Director said the bank was incorporated on May 3, 2014, and commenced banking operations on June 1, 2015.
According to him, the bank has recorded remarkable growth over the past 11 years.
He said it currently has a balance sheet exceeding N26 billion and serves more than 25,000 customers.
Captain Ikwuyatum said the bank operates six relationship centres strategically located at NNS Beecroft, NNS Wey, NNS Victory, BMU Warri, BMU Port Harcourt, and Admiralty Printing Press, Asokoro, Abuja.
He explained that the centres were established to bring the bank's specialised financial services closer to its target customers.
He also commended the Group Managing Director and Chief Executive Officer of Navy Holdings Limited, Rear Admiral Ibrahim, who also serves as Chairman of the bank's Board of Directors.
He attributed the bank's steady growth to the chairman's strategic leadership and guidance.
Captain Ikwuyatum also appreciated the Vice-Chancellor, Professor Christopher Ogbogbo, for approving the land for the bank's permanent site.
