CMfB Management Seeks Covenant’s Support for Repositioning Plan

CMfB Management Seeks Covenant’s Support for Repositioning Plan


The Covenant Microfinance Bank (CMFB) leadership is seeking the Covenant University Management's assistance, as the CMFB embarks on a repositioning exercise. The Acting Managing Director, CMFB, Pastor Peter Atolagbe, made this known when he led top officials of the bank on a courtesy visit to the Covenant Management.

While congratulating the University for emerging the second-best and best private University in Nigeria, in the recently released Webometric Rankings of Universities, Pastor Atolagbe stated that the CMFB desired to reposition itself and compete favourably with the best banks, in both commercial and microfinance structures, in the country. He said the plan to re-strategise by leveraging Covenant University's unique brand and cultivating best banking practices had necessitated the visit.

"We are looking forward to developing new and distinctive ways of doing things, and especially cultivating a better banking relationship with all members of the University community," Pastor Atolagbe added.

The Director, Financial Services of Covenant University, Pastor Babatunde Onatola, appreciated the goodwill of the existing relationship between the bank and Covenant, making the ease of doing banking business relatively seamless. He, however, called on the bank to improve on neglected aspects of its operations.

Pastor Onatola called on the bank's new leadership to improve on their electronic banking processes, noting that faculty, staff, and students of the University desired more ICT-related offerings from the bank to facilitate the ease of banking for all.

In his remarks, the Vice-Chancellor, Professor Abiodun H. Adebayo, congratulated the visiting team on the new assignment before them. He noted that their antecedents and previous contributions to the bank did not go unnoticed, which had resulted in their elevation to the leadership of the bank.

Professor Adebayo urged the bank's management to bring onboard the uniqueness of electronic banking to the Covenant University community. He said electronic banking would help reduce human traffic in the banking hall.

While commending the new leadership for the timely activation of an Automated Teller Machine spot on the University campus, Professor Adebayo advised that the best way to build and retain customers would be for the bank to make its presence felt. He said investment in related finance programmes of the University would be a veritable means of driving corporate social responsibility within the community.

At the meeting were the Registrar, Dr Oluwasegun Omidiora; Head, Administration and Human Resources, CMFB, Mr Solomon Obaniyi; and Treasury and Investment Officer, Mr Christian Dirisu.

Vice-Chancellor, Professor Abiodun H. Adebayo (3rd Right), other  members of Covenant Manaagement with Officials of CMFB

Vice-Chancellor, Professor Abiodun H. Adebayo (3rd Right), other members of Covenant Management with Officials of CMFB