Page 44, THISDAY, Vol. 16, No. 5789
Monday, February 28, 2011
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Banks Parley Delta on Funding Opportunities enty four banks have consulted with the Delta State Government on investment opportunities in the state with a view to ascertaining how the banks could conlribute to meeting the state's finance
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needs.
The meeting, THISDAY gathered. was at the auspices of the Bankers' Committee and witnessed a presentation by the Delta State Governor, Dr. Emmanuel Uduaghan to the bank chiefs. Following a commitment made by the banks at the 296th meeting of the Bankers' Committee last year to support bankable projects of state governments and the real sector, the Bankers" Committee has been holding interactive sessions with many state govenunents across the country. According to a document on the consultations with the Delta State Government obtained by THIS DAY, the Governor of Delta State, Dr. Emmanuel Uduaghan, during the meeting held recently, presented for intervention by the banks a number of projects including the new international airport being
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CO~!~C~9in ~::~stheJ~ kdustrial and Business Park under a Public-Private Partnership (PPP) arrangement and the Koko Free Trade Zone (KFfZ). He said the development initiatives will attract investors to the state as weU as facilitate economic development. According to him, the state had developed a model for agriculture with focus on: produceaquaCUlture, poultry and oil palm production, preservation, storage and processmg as weU as export and market development. He stated that the proposed agriculture processing complex to be set up at a cost of about N2.2 billion under the commercial agriculture and credit scheme will consist of three plants for processing cassava, cat-fish and broilers. Uduaghan further pointed out that the state had embarked on climate change initiatives to
ensure a pollution free environment, stressing that Delta State is a member of the R-20: a group of 20 sub-national governments across the world involved in a comprehensive progranune on climate change, including the state of Califomia in the United States. Uduaghan told the bankers that the state had made engage-
ments with the multinational oil companies to stop gas flaring, adding that Chevron has made a commitment to stop flaring for the next IS months starting from December 2009 while Shell Petroleum Development Company (SPDC) is currently being engaged on the same issue. The Governor pointed out
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ceanic Bank has said it was implementing a scheme targeted at developing entrepreneurship
among small savers under its
microfinance banking. Through the scheme tagged, "Be Your Own Oga Promotion" the bank was reaching out to a number of customers every month, who it hands over basic tools that are necessary for them to start their own businesses Of expand existing ones. The beneficiaries of the business tools including lricydes, motorbikes, generators,
ous'products.
''The bank has put up a seamless process of documentations that would lead to loan disbursement to farmers. Specifically, it would assist small, medium and large scale cocoa, tree and arable crops,
meet various desires of high
net-worth individuals, enterprise owners and students," the cotton, poultry and out-growers
schemes under it~ commercial agriculture financing by offering loans with attractive rates. "It would also offer full range of business advisory services on imports, oil and gas, solid minerals as well as foreign exchange transactions. The Bank would also display value creating products and services for its numerous existing and prospective customers, namely Union-ever, Savings/Current account based products, Union Lifetime accounts, Union Wealth consumer credit finance loan products and Union Galaxy, the electronic package, designed to
mate change initiatives.
"Delta State's development strategy is centted on threepoint agenda: peace and security, human capital development and infrastructure development. key achievements have been recorded in the area of peace and security which are pivotal to the achievements of human capital and infrastructure development," he added.
Oceanic Bank Boosts Enterprise for Small Savers cials from auditing and regula-
tory institutions commended grinding machines, sewing machines, vulcaniser machines, pressing irons, barbing clippers and Call center sets with Nl,OOO credits, among others are selected from a monthly draw. The second draw of the promotion was held last week and produced 54 winners, while the first draw was held in January this year, with 48 micro savers benefiting from the promotion. The participants at the second draw which included offi-
Union Bank Supports Farmers at Fair nion Bank of Nigeria Pic has set up a stand at the Kaduna International Trade Fair to boost e=nomic recovery -of smaIl and medium enterprises. agro allied companies and all categories of farmers in the 20 11 farming season. The bank stated in a statement it would continue its leadership role in the nation's agric financing, especially, the fmance for small and medium enterprises through its numer-
that the Delta State economy was largely dependent on oil and gas, which conlributes about 73 per cent of the state's Gross Domestic Product (GOP) but that the govemment was making efforts to diversify the economy with focus on fanning, fishing and trading and with specific interest in cli-
statement added. Acoording to the bank, the foregoing services and products offerings would be complemented with its e-banking products and services, including
internet banking, Union mobile conunerce, ATM services and Point of Sales (POS) services. Union Bank has consistently participated in the Kaduna Trade Fair in the past three decades with a permanent pavilion at the Fair.
Oceanic Bank for identifying with the supposedly poor people in the society and offering them hope. The officials in their various remarks lauded the transparency of the selec-
tion process. The Head, Development Finance of Oceanic Bank, Mr. Felix Oyakhamoh, said the promo was a savings-<lriented platform that encourages entrepreneurs to set aside funds towards growing their businesses, adding that the draw
will see winning customers cart away prizes that will enhance their productivity and ultimately expand their busi-
nesses. Oyakhamoh said: "It is also an opportunity for us to say thank you to our loyal microfi-
Dance customers who have been with us since the commencement of operations in 2008 as the promotion is all about helping to expand their
business in order to improve
their lives and also as a development tool that can conlribute in alleviating poverty." The Deputy President, Nigerian Association of Small
and
Medium
Enterprises,
Alhaji Lukman Adebifi, had at the ftrst draw expressed gratitude to Oceanic Bank for the scheme, stressing that it was one of the best ways a bank could conlribute to development of the informal sector and the economy. Oceanic Bank stated that the promotion was open to both old and new customers, pointing out that all they (the customers) need to do was to save N5, 000 every month from December 10th 2010 to March 10, 20 II into their Oceanic Micro Savings Account at any Oceanic Bank branch nationwide. Every multiple ofN5,OOO in OMSA qualifies the customer for an additional chance each in the monthly draws to win a prize. Every multiple entry qualifies for an instant reward at the branch.