Femi Otenigbagbe, managing director of Parallex Microfinance Bank, has said that his bank in partnership with the Cross River State government through its special vehicle Microfinance and Entrepreneural Development Agency (MEDA), has started the disbursement of Micro, Small and Medium Enterprises (MSMEs) loans to beneficiaries through its Calabar business office. Otenigbagbe, who disclosed this in an interview with BusinessDay, commended the state government for its vision to ensure that the state residents were not left out in the Central Bank of Nigeria (CBN) N220 billion fund instituted for small and medium scale entrepreneurs (SMEs).
The managing director, who spoke through James Abang, his branch relationship manager, thanked Governor Liyel Imoke for his unparalleled passion to create jobs for its teaming population through development of the informal sector of the economy.
He called on the people of the state to take advantage of the state government gesture, assuring them that Parallex MFB being a national microfinance bank with state-of-the-arts ICT infrastructure was poised to provide them with needed support through world-class financial products and services. The chief executive also commended Ignitius Atsu, director-general of MEDA, for his support to all the participating financial institutions involved in the scheme.
MIKE ABANG
