NASSI to launch micro -finance bank

Jan 2007
Nigeria , January, 24 2007 - The Nigerian Association of Small-Scale Industrialists (NASSI), FCT Chapter will soon launch a micro-finance bank with a capitalisation of N200,00 million through a private placement.

The chairman of the NASSI FCT chapter, Dr Abdulaziz Mohammed, made this known in Abuja while briefing journalists on the forthcoming 7th NASSI National Convention Mohammed said the NASSI Unity Micro Finance Bank would have a share holding structure of 60 per cent for NASSI FCT Board of Trustees and NEC members, 25 per cent for NASSI members nationwide.

He said that the general public would have 15 per cent while Aso Savings and Loans Ltd would be the technical partner. On other programmes of the association, he said, NASSI was partnering with MTN on an empowerment programme to provide jobs for school dropouts and other unemployed youths.

He said the FCT minister had accepted a NASSI packaged business training programme for the erstwhile commercial motorcycle operators who had been rendered jobless following the ban on ‘okada’ riders in Abuja city, in order to give them a new lease of life.

On the NASSI industrialisation programme in the FCT, the chairman said that the small-scale industries would be brought together under the cluster initiative and located at the Idu industrial estate.

He said the 7th NASSI national delegates conference was expected to attract over 400 participants with 10 representatives from each of the 36 states and the FCT as well as the national executives of the association.

New national executives of the association would be elected on the second day of the conference which is usually held once in four years.

Source : The Tide Online

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