UYO – Governor Umo Eno of Akwa Ibom has taken decisive measures against alleged financial misconduct at Ibom FADAMA Micro Finance Bank (IFMB), resulting in the dismissal of the entire management team. The announcement was made at the recently concluded Ibom Dialogue forum, hosted at the Ibom Icon Hotel and Golf Resort in Uyo, the state capital.
Eno cited the bank’s failure to fulfil its fundamental mission of providing farmers with necessary credit facilities as the prime reason for his actions. Further exacerbating the issue was the continuous decrease in shareholders’ funds. As a result, the Governor felt compelled to dissolve the current management team to pave the way for a more result-oriented group.
Expressing his lack of confidence in the outgoing management, Governor Eno stated, “I will not support the bank as long as the current management remains. We require a fresh team that we can collaborate with and connect the farmers to the bank.”
The Governor highlighted that the state has 496,000 registered farmers, who could potentially benefit from a well-managed bank. “Once we deposit funds into the bank, they should be directly accessed by these farmers,” he added.
In alignment with his administration’s ‘Arise Agenda’, Eno also announced the establishment of a new Ministry of Water Resources and the reorganisation of several others to ensure coordinated efforts towards delivering the benefits of democracy to the citizens.
He encouraged better cooperation among Ministries, Departments and Agencies (MDAs) and stressed the need to break down isolated ‘kingdoms’ within the MDAs. He advocated for a unified approach towards achieving common goals to prevent waste of resources and time.
“What we aim to achieve in the next four years is to ensure that the MDAs don’t become self-contained kingdoms. We need to break down these walls and work as a single state government, pursuing the same objectives,” he said.