The Redeemer’s University, Ede, Osun State, on Tuesday, inaugurated its microfinance bank, RUN Microfinance Bank Ltd.

The bank is located on the university premises.

At the inauguration, the Vice-Chancellor of the university, Shadrach Akindele, said that establishing the bank was part of the university’s commitment to financial inclusion and empowerment.

Represented by his deputy, Ahmed Yerima, Mr Akindele said that the bank was a Christian faith-based microfinance bank established to be run with the fear of God and integrity of purpose.

He said, “Our mission is to provide access to financial services for our students, staff and local communities, promoting economic growth and well-being. This microfinance bank is a testament to our university’s dedication to fostering socio-economic development.’’

In his remarks, Chairman, Board of Directors of the bank, Daniel Ogun, promised that the board would provide leadership of integrity, transparency and accountability.

“We promise to create a work culture of Christian ethics and integrity and ensure effective management oversight. All our stakeholders, staff and management, shall be held accountable and responsible to our creed of core values, all of which are God’s expectations of us as a Christian organisation. We already have a strategic plan to move the bank from a unit microfinance bank to a state and national bank, respectively,” he said.

The Pioneer Managing Director and Chief Executive Officer of the bank, Abiodun Durowoju, said that the opening of the bank marked a significant milestone in a journey to empower Osun residents.

“We aim to bridge the financial gap, promote economic growth and improve the well-being of our communities. Our target is to empower individuals, families, small and medium enterprises, and communities through access to financial services. Our microfinance is committed to providing affordable, convenient and innovative financial solutions to our clients,” he said. 

(NAN)