Governor Umo Eno has ordered the management team of the Ibom FADAMA Micro Finance Bank to be dissolved immediately because it has been unable to carry out its duty and provide loan facilities for farmers in Akwa Ibom.
The Akwa Ibom Governor expressed sadness that the disbanded management was renowned for the ongoing drain of shareholders’ funds while speaking at the Akwa Ibom Dialogue for interpretation and execution of the “A.R.I.S.E. Agenda blueprint” on Wednesday in Uyo.
While revealing that there are 496,000 registered farmers in Akwa Ibom, he also stated that there are preparations in place to connect them to the bank so that any funds released to the bank by the government will flow directly to those farmers.
He said, “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.
“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 money to the bank, it will go straight to those farmers.”
Eno added that the Ministry of Agriculture and Rural Development have been combined, and a new Ministry for Water Resources and Sanitation has been established. The Ministry of Power will continue to exist as a separate entity.
However, he criticized the State’s exclusion from water-related benefits provided by the Federal Government and donor organizations, claiming that the establishment of a Ministry for Water Resources will completely integrate the State into the UN Water, Sanitation, and Hygiene (WASH) program.