The Manager, Nigerian Navy Microfinance Bank, Admiralty University of Nigeria (ADUN) Relationship Centre, Miss Christiana Ejembi, says the bank has fully commenced operations.
She disclosed this during a media chat in her office at Igbuzor, Delta State.
Ejembi called on the university community, host community and members of the public to patronize the bank for their financial needs.
She said the ADUN Relationship Centre offers various banking services and financial products to individuals, businesses, staff and other members of the public.
According to her, the bank offers savings accounts, current accounts, Kiddies accounts, corporate accounts and group savings schemes.
Other services include fixed deposit investments, asset acquisition financing and students’ loans, which are guaranteed by their parents or guardians.
She added that the bank offers salary advances to salary earners and business expansion loans to small and medium-scale enterprises.
The manager further disclosed that contractors can access Local Purchase Order financing and Advance Payment Guarantee facilities through the bank.
Ejembi said the bank would provide significant financial benefits to staff of Admiralty University and members of the general public.
She disclosed that ADUN staff accessing loans from the Nigerian Navy Microfinance Bank would enjoy an interest rate of three percent.
According to her, the loan repayment period is 12 months, with an option of extending the duration to 24 months.
Ejembi commended the Nigerian Navy for its initiative to establish the microfinance bank at Admiralty University.
She also commended the Vice Chancellor and management team of ADUN for providing land for the bank’s establishment.
She expressed appreciation to the university management for its numerous forms of support towards the successful establishment and operation of the bank.
