The Pro-Chancellor of Admiralty University of Nigeria (ADUN), Vice Admiral Victor Ombu (Rtd.), has expressed confidence that the establishment of the Nigerian Navy Microfinance Bank on the university campus will accelerate institutional growth and stimulate socio-economic development in the host community.
Vice Admiral Ombu made the assertion during the commissioning of the Nigerian Navy Microfinance Bank at Admiralty University, Igbuzor, Delta State, where he described the project as a significant milestone in the university’s drive towards academic excellence and sustainable development.
He commended the Supervising Director of the Nigerian Navy Microfinance Bank Limited, Navy Captain Odihi Ikwuyatum, for championing the establishment of the financial institution within the university.
The Pro-Chancellor also performed the foundation-laying ceremony for the Faculty of Environmental Sciences building, applauding the Vice-Chancellor, Professor Christopher Ndubisi Ogbogbo, and the university management for their unwavering commitment to expanding the institution’s infrastructure.
According to him, the commissioning of the microfinance bank, alongside the construction of the Faculty of Environmental Sciences complex and other ongoing projects, will further position Admiralty University among globally competitive institutions of higher learning.
Speaking at the foundation-laying ceremony, the Vice-Chancellor, Professor Ogbogbo, expressed gratitude to God and the university’s governing authorities for the steady progress recorded since the institution’s establishment.
He disclosed that the Faculty of Environmental Sciences complex would house six academic departments upon completion, while the Faculty of Agriculture would also commence academic activities in the new facilities.
Professor Ogbogbo described the establishment of the Nigerian Navy Microfinance Bank on campus as a landmark achievement that would strengthen the university’s financial ecosystem, improve access to banking services, and attract greater investment to both the institution and Delta State.
Earlier, the Supervising Director of the Nigerian Navy Microfinance Bank Limited, Navy Captain Odihi Ikwuyatum, traced the bank’s growth since its incorporation on May 3, 2014, noting that it commenced banking operations on June 1, 2015.
He revealed that the bank has recorded remarkable progress over the past 11 years, with a balance sheet exceeding ₦26 billion and a customer base of more than 25,000.
According to him, the bank currently operates six relationship centres located at NNS Beecroft, NNS Wey, NNS Victory, BMU Warri, BMU Port Harcourt, and Admiralty Printing Press, Asokoro, Abuja, bringing specialised financial services closer to its target clientele.
Captain Ikwuyatum attributed the bank’s sustained growth to the visionary leadership of the Group Managing Director and Chief Executive Officer of Navy Holdings Limited, Rear Admiral Ibrahim, who also serves as Chairman of the bank’s Board of Directors.
He also appreciated the Vice-Chancellor, Professor Ogbogbo, for approving the allocation of land for the bank’s permanent site on campus, and commended the university’s Bursar, Commodore Emmanuel Onu, for his support, which he said was instrumental to the successful establishment of the bank.
The event culminated in the presentation of awards to distinguished individuals in recognition of their outstanding contributions to the growth and development of Admiralty University of Nigeria.
