Oyetola Commends Omoluabi Mortgage Bank For Feat Achieved

 

Governor, State of Osun, Mr. Gboyega Oyetola has commended the Board of Directors of Omoluabi Mortgage Bank for repositioning the financial institution into an enviable height.

Governor Oyetola stated this while playing host to the Board of Directors of the Bank in his office in Osogbo on Wednesday.

 

Mr. Oyetola said he is not surprised at the success recorded because of the calibre of the people appointed by the immediate past administration which he was part of, maintaining that the Board of Directors was meticulously constituted with a view to repositioning the already technically insolvent bank into an award winning institution which the Board has achieved, a feat he affirmed is unprecedented.

The Governor who commended the financial institution for the achievement of being listed on the stock exchange, however advised the Board to ensure that an individual does not just buy over the stocks which he maintained will be counterproductive to the success story of the bank.

Earlier in his remarks at the event, the Chairman of the Board, Alhaji Adebayo Jimoh informed the Governor that within two years of taking over, the Board has been able to reposition the bank to the height of declaring dividends to shareholders which he affirmed is a great feat.

Alhaji Jimoh added that the bank won the most outstanding mortgage bank in the country by Business day under the banking and institution awards 2018, Nigerian Stock Exchange (NSE) outstanding award and Nigerian Entrepreneurs award of excellence which he maintained are phenomenal in the annals of the financial institution.

The Board Chairman added that taking care of the Small and Medium Enterprises ( SMEs) is an area that has taken the attention of the Board citing the examples of Sowojere and Karakata facilities benefitted by traders of the popular Orisunbare Market as they were provided with working capital needed for their business, adding that none of the beneficiaries has defaulted.

The Chairman told the Governor that having set the bank on a good level of good governance, financial reporting, etc, the bank is now ready for divestment.

Highpoint of the event was the presentation of an award of excellence to the Governor for giving the Board the needed support while serving in the immediate past administration which made the repositioning of the Bank possible.

Awards won by the Bank were also handed over to Governor Gboyega Oyetola by the Board of Directors through its Chairman, Alhaji Adebayo Jimoh who was assisted by the Managing Director of the Bank, Mr. Ayo Olowookere.