The Chairman of Omiye Microfinance bank, Ilupeju Ekiti, Oloye ESAN Ogunleye at its 2023 Annual General Meeting paid #18,855,859. 60K dividend to shareholders whose names appeared on the shareholders register as at 31st December, 2023.
Also reiterated that the bank has jacked-up its share capital from #500 million to #1Billion to allow both existing and prospective shareholders to buy shares in preparation to get the approval of CBN to state level.
The Chairman disclosed these while reading his Statement at the AGM held at ONWARD HOTEL, ILUPEJU EKITI on 7th December, 2024. Oloye ESAN said #0.10kobo per share of #1 would be given to shareholders, highlighted the financial metrics that aided the performance of the bank to include;
17.95 kobo for Earnings Per Share in 2023 financial year, Capital Adequacy Ratio(CAR) at 47.58%
an appreciable increase far better than previous financial Year
Adding that the Asset Quality of Omiye Micro finance bank remained strong in 2023 with a non – performing Loan(NPL)ratio of 7.5%
Oloye ESAN attributed the successes of the bank to: professional experience and commitment of Board Members, pragmatism and dedication of the staff with the commitment of customers. He appreciated the customers, promised to serve them better.
Speaking on sustainability, the chairman said “at Omiye Microfinance bank , we recognize the need for a profound impact of our operations on the environment, society and economy. As responsible corporate citizens, we are committed to integrating sustainability into aspects of our business to drive positive change and deliver lasting value to our stakeholders ”
“Despite the delay in obtaining our upgrade license to Tier 1 Unit MFB, the board had taken necessary steps towards a desired increase in our Authorized Share Capital from #500 million to #1 Billion to pave way for both existing and prospective shareholders who would be interested in buying into the bank shares. Saying the proposal for a banking license upgrade is currently under consideration for approval by the Central Bank of Nigeria. A licence Upgrade to state level will facilitate our branch development agenda across the state, thus facilitating the achievement of our twin objective of Social and Financial benefits to our shareholders and Host Communities.
Adding that the bank is making frantic efforts to partner with Ekiti state government, local Government, /LCDA, government agencies and community Development Associations to achieve their respective goals and objectives is already yielding positive results.
The Board Chairman assured the stakeholders and customers that the bank would leverage on Technological advancement to better position the bank. While urging customers to explore technology for the safety of their money .
The former chairman of Oye Local Government and Ifeloju Local Council Development Area, Ilupeju Ekiti,Comrade Babatunde Ogunmilugba, who is also a shareholder tasked other shareholders to increase their shares, saying it is incumbent on them to move along side the progressive mission of Omiye Microfinance. He appreciated the management of the bank for increasing both the dividends and the share capital of the bank.
Dignitaries at the AGM are:
HRM Oba Sunday Awe AKINGBADE, the Apeju of Ilupeju Ekiti, Oba Adekunle Adeayo Adeagbo, the Oore of Otun Ekiti, HRM Oba Gabriel Adejuwon, the Onisan of Isan Ekiti, Representative of Ewi Of Ado Ekiti , Commissioner for Youth, Mr Gold Adesola Adedayo, Representative of CBN, Former Chairman of Oye Local Government and Ifeloju LCDA, Ilupeju Ekiti, Comrade Babatunde Ogunmilugba, Chairman Oye Local Government, Hon Adesola Bamisile, Board of Directors: Chief Stephen OJO, Mr Mike Osatuyi , Chief Femi Babalola among others