Governor Udom Emmanuel of Akwa Ibom State has disbanded the management team of the Ibom FADAMA Micro Finance Bank. The governor announced the dissolution on Wednesday, July 27, 2023, during a meeting with stakeholders in the agricultural sector.
Governor Eno said he was disbanding the management team because it failed to achieve its mandate and assist farmers with credit facilities. He said that he did not have faith in the present management and would not empower the Bank until new management was implemented.
The governor said that he wanted to see a brand new management that would be able to work together and deliver on the Bank’s mandate. He said that there were 496,000 farmers registered in the State and that he wanted to link them to the Bank so that when he released money to the Bank, it would go straight to those farmers.
Stakeholders in the agricultural sector have welcomed the governor’s decision to disband the FADAMA management team. They said that the old management had been inefficient and that they were hopeful that new management would improve the Bank’s performance.
The dissolution of the FADAMA management team is a sign that Governor Eno is serious about his commitment to agriculture. He has said that he wants to make Akwa Ibom the food basket of the South-South region, and this decision is a step in the right direction.
Quote from Governor Eno:
“I don’t have faith in the present management of Ibom FADAMA, and as long as that management is in place, I will not empower that Bank.
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“We need a brand new management that will be able to work together. We have 496,000 farmers registered in this State. We can link them to the Bank so that when we release the money to the Bank, it will go straight to those farmers.”
Impact of the decision:
The disbandment of the FADAMA management team is expected to have a positive impact on the agricultural sector in Akwa Ibom State. A new management team that is more efficient and effective will be able to deliver on the Bank’s mandate and provide much-needed credit facilities to farmers. This will help to boost agricultural production in the State and improve the livelihoods of farmers.
What happens next?
The governor has said that he will appoint a new management team for the Ibom FADAMA Micro Finance Bank soon. The new management team will be tasked with improving the Bank’s performance and delivering on its mandate. They will also be responsible for linking farmers to the Bank so that they can access credit facilities.