Governor Umo Eno of Akwa Ibom State has ordered the immediate disbandment of the FADAMA Microfinance Bank’s management team over its failure to achieve its mandate of assisting farmers with credit facilities in the state.
The state governor while speaking on the implementation of the ‘A.R.I.S.E. Agenda blueprint’ in Uyo, on Wednesday, said that he has lost faith in the management of the bank.
He resorted not to fund the bank as long as the management was in place, adding that a new management that would make things work will be put in place.
He said, “I don’t have faith in the present management of Ibom FADAMA and as long as that management is in place, I will not empower that bank.
“We need a brand new management that will be able to work together. We have 496,000 farmers registered in this State. We can link them to the Bank so that when we release money to the bank, it will go straight to those farmers.”
Also, the governor announced that the Ministry of Agriculture has been merged with Rural Development, a new Ministry created for Water Resources and Sanitation, while the Ministry of Power will function in a separate capacity.