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‘Why We Establish Microfinance Bank’ – AMAC Chairman

The Chairman, Abuja Municipal Area Council (AMAC), Abdullahi Adamu Candido, on Thursday explained that the council floated a Micro Finance Bank (MFB) in furtherance of its efforts  to support grassroots people and assist Micro, Small and Medium Enterprises (MSMEs) owners grow their businesses.

The local government chairman gave this hint when he received the FCT’s executive of the All Progressives Congress (APC) in his office.

Candido said that the MFB had been licensed by the Central Bank of Nigeria (CBN) and already had N176 million shareholders capital base, adding that the initiative will further rev up the financial inclusion drive of the government.

This is even as he unveiled plans by the council to  open a community radio to be called ‘AMAC grassroots community radio,’ in order to adequate inform, education and enlist the support of the grassroots people for the activities of the local government.

The AMAC boss, who disclosed that the radio station project had reached 90 percent completion level, explained that his administration had been executing various capital projects in the council area such as rural electrification, healthcare and provision of water and free distribution of fertilizers to farmers, amongst others.

Candido explained further that in furtherance of his personal commitment to grassroots development, he had been devoting his security votes to employment, capacity building and other areas considered helpful to the socio-economic emancipation of the people of the area.

Earlier in his remarks, the Federal Capital Territory (FCT) APC Chairman, Alhaji Abdulmalik Usman, expressed delight in the AMAC’s boss performance, saying that the party is happy to elect into office one of their own who believed in the philosophy and ideals of the party.

He said:  “We are lucky to have our own elected into office from the six area councils, our chairmen in Abuja are competing with some state governors in Nigeria. We have seen projects executed by our chairmen that will be a challenge to some of our governors.”

Usman promised the party leadership’s support for the AMAC Chairman’s second term re-election given his performance and to enable him complete all the ongoing projects he initiated.

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