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Touching lives through
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Savings – Loans
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Money Transfer
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Micro Insurance
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Social Benefits
By Kelvin Ohoror
For over 25 years IC Global Micro Finance Bank Limited is a
regulated and supervised bank in Nigeria.
It is a private Limited Liability
Company incorporated on August 25th 1991 with corporate Affairs and
Allied Matters Acct 1990 (as amended) to carry on the business of providing
banking and Financial Services in the country.
The bank was incorporated as Isoko Community Bank in
1991 and later changed its name to IC Global Micro Finance Bank Limited
in line with CBN Micro Finance Policy, after it acquired three (3) Community
Banks in Delta State. (Iloho Community Bank, Ndokwa Community Bank and African
Community Bank).
The Bank was licensed as a Community bank in 1992 by the CBN to
carry on the Community Banking business with license number 000098.
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Over 25 years of IC Global promoting and
Development of Delta State with inspiring Micro Finance Value
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The Bank has enjoyed
a harmonious governance and Management relations and dynamism since inception
of the Bank. IC Global has waxed stronger with its committed distinguished and
discipline governance members.
The Bank was selected among the best 25 Micro
Finance Banks in Nigeria in 2016 with a large outreach n terms of numbers
of clients reached over the year from less than 1000 in the beginning to over
100,000 clients at 31st October, 2016.
The Bank has reduced poverty over the years by providing
soft loans for traders, artisans, civil servants and education of our children
and adults. The Bank is also the official Banker to the Delta State Government
in Micro Small Medium Enterprises (MSME) loans disbursement since 2007.
The Bank recently received Europe Business Assembly prestigious international
award November, 2016.
Meanwhile, speaking at the 17th Annual General
Meeting in 25 years, the Chairman of IC Global Micro Finance Bank, Barr. Joe
Arausi asserted that, “To have attained 25 years as an institution we have come
of age and is worthy of the celebration of the Silver Jubilee.
We came to
revolutionalized the banking habit of the culture of our people in 1991,
essentially by the creation of Financial literacy and saving culture’’.
The chairman of the Bank also noted that, “Our presence
brought healthy competition where the commercial Bank present in Isoko today strive
to measure up with IC Global Micro Finance Bank Limited.
We started as Isoko Community Bank an Identity to ISoko
Nation Moving away from Community Banking to Micro Finance Banking and from a
single unit to having 18 centres within Delta State, with the acceptance of our
Bank as a State Micro Finance Bank covering more than two third of the State
areas of Delta, we have touched the life of our customers in providing
facilities in training children, run successful business as well as owning
houses as a result of our loan support ‘’.
In the area of the recapitalization Barr Arausi stated that,
“In 2008, during the crash in financial crisis leading to the crash of some
commercial Banks and stock market, we ventured into private placement of
shares.
At that period, we offered our shares for subscription at that
difficult period. We succeeded in raising N 380 Million as a result of our
acceptability by our shareholders.
The exercise was what sustained our Bank
during the trying period of the CBN revocation of our operating license. No
Financial Institution would have been able to survive if such institution
does not raise fresh capital when the need was exigent ‘’.
He further said that, “This time around, the challenge of
the economic recession as well as the need to provide new ICT globalization
technological challenges, we have embarked again on a project code named “The
Next Big Ideal Project’’.
The project will involved I.T to drive our new
digital products (E- Channel ) and at the same time to enhance our working
capital to able to deliver our that will be launched soon.
Arising from this, we have also offered 500,000,000 ordinary
shares of 50 K at 65 K per share and right issue of 200,000,000 of 50 k at 55K
per share at a breakdown of 3 to 1 of shareholding’’.
On the future of the Bank, Barr. Arausi also assure that,
“The future of our Bank is very bright and strong considering the strong
support we have been receiving from CBN in form of loan of N50,000,000
and (MSME) programme which has attracted about N 200,000,000 to the Bank from
the Dr. Emmanuel Uduaghan administration to this current Sen. Ifeanyi Okowa’s
administration utilizing the good channel of the Delta State Agency of Medium,
Small and Medium Enterprises Development Under the supervision of Dr. (Mrs)
Shemite Bello’’.
He concluded that, anchoring more of the new products that
is the offing, we strongly believed that the success thereto would lead to more
paying dividends to shareholders as our bank is more in the drive to provide a
general public wealth to our shareholders.
The chairman of the Bank therefore appreciate those who have
contributed immensely to the success story of the Bank, particularly the
pioneer directors, shareholders and customers of some of our branches such as
Patani, Obiaruku, Kwale, Oghara and Agbor respectively.
The highlight of the ceremony was award of five categories
founding fathers Award, shareholders Award, Customers Award,,
Staff Award and Institutional Award. Meanwhile various prices were given to the
winners of the IC Global Micro Finance Bank promo ranging from cars, keke
Napeb, Deep Freezer, Big plasma television and motorcycle (Okada).
Some of the winners who express their joy to the media
present at the ceremony stressed that, my name is Eku Patience “Words are not
enough to express my joy, I was not doing the promo to win, I love the Bank. I
have been banking with IC Global Micro Finance Bank, since when I was small, I
am very happy because whether you win or not your money is safe with the Bank.
I will continue to bank with IC Global Micro Finance Bank. IC Global is a great
Bank, a Bank they should not be afraid of, thebank that will always stand
tall’’ she said.
Think Jaku the winner of a Motorcycle of the IC Global Micro
Finance Bank promo also said that “Those that do not win should try harder next
time. IC Global Micro Finance Bank is a very nice bank, they are the first
Micro Finance Bank doing this kind of promo in the state’’.
Another winner of a deep freezer Dele Snow also said that “
I am glad with the price I won today in this IC Global Micro Finance Bank
promo. I have been telling people the good news about IC Global Micro
Finance Bank. I will use my deep freezer in selling drinks’’.
Meanwhile in another development the Isoko Development Union
has convey a goodwill message on behalf of the Isoko Nation to IC Global Micro
Finance Bank as they celebrate 25 years of meritorious services to humanity.
Reading the goodwill message at the 25 years silver
jubilee of IC Global Micro Finance Bank, the president General of I.D.U ,
High Chief Iduh Amaidhe stated that, “ IC Global Micro Finance Bank,
started as Isoko Community Bank was nicknamed by admirers as the Central Bank
of the Isoko People. It is like a proverbial Muster seed and today is a force
to reckon with in the Banking sector’’.
High Chief Iduh Amaidhe further said that this
wonderful vision that stared as a dream has become a colossus within 25
years of existence. The I.D.U wish to use this opportunity to call on our sons
and daughters, political gladiators and business mogul to invest in IC Global
Micro Finance Bank and shareholders to increase their shares.
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