Economy Finance News

Gombe Moves to Reposition State-owned Bubayero Microfinance Bank

…As Governor Inuwa Yahaya Sets Up Interim Board

In a bid to restructure and reposition the state-owned Bubayero Microfinance Bank, the Governor of Gombe state, Alhaji Muhammadu Inuwa Yahaya has approved the constitution of an 11- member interim board.

The board is headed by the Hon. Commissioner of Finance and Economic Development.

Members of the board are;
2.Attorney-General and Commissioner for Justice
3. Hon. Commissioner for Local Government and Chieftancy affairs
4. Hon. Commissioner for Trade, industry and tourism.
5. Accountant-General
6. Auditor- General for State
7. Auditor-General for Local Governments
8. 1 representative from each of the 3 senatorial districts and
11. Alhassan Muazu is to serve as Secretary of the board

At its inaugural meeting, the interim board considered the report of the government appointed external auditors which revealed the actual position of the bank.

The board also suspended the management of the bank and appointed an acting management during its second meeting. The suspended management are to proceed on recovery leave to enable them recover loans granted by them.

The board assures all customers of the bank that the decision taken is in their interest and that of shareholders and will not in any way affect its services but only further improve and reposition the bank to perform its function.

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