Business
Otti appoints board members for Abia Microfinance, SME bank, tasks them on economic revival
The Abia State Government has approved the appointment of members to the Board of Directors for the newly restructured Abia State Microfinance and SME Bank, as part of efforts to boost access to funding for micro, small, and medium-sized enterprises (MSMEs) and drive inclusive economic growth across the state.
The announcement, made through a statement issued by the Chief Press Secretary to the Governor, Ctz. Ukoha Njoku Ukoha, on April 29, 2025, described the appointments as a strategic step toward strengthening the state’s financial ecosystem under Governor Alex Otti’s administration.
Leading the newly constituted board is Mr. Friday Ndubuisi Eluwa, who will serve as Chairman. Mr. Isaac Chimereze Okoro has been named the Managing Director and Chief Executive Officer, while Mrs. Nkechi John-Ajuga will serve as Executive Director.
Other appointees include Mr. Kings C. Akuma, Mrs. Onyinye Patricia Ralph-Nwachukwu, and Mrs. Hope Chinyere Ubani Ukoma as Non-Executive Directors. Mr. Onwuchekwa Okoronkwo Elendu was appointed as the Company Secretary and Legal Adviser.
The Governor noted that the new board members bring with them a wealth of experience and deep industry insight, which will be crucial in steering the bank in line with the administration’s vision of a vibrant and enterprise-driven economy.
“The Board is expected to provide strategic leadership to ensure that the bank fulfils its mandate of delivering accessible financial services, supporting MSMEs, and catalyzing economic growth across Abia State,” the statement said.
Governor Otti congratulated the appointees and urged them to serve with integrity, professionalism, and full commitment to the aspirations of the people of Abia.
The Abia State Microfinance and SME Bank is expected to play a critical role in empowering small businesses and enhancing financial inclusion in the state.
