Retired Inspector General, Nigeria Police Force, Alhaji Ibrahim Atta has said birth of the NPF, Micro finance Bank started 25 years ago was registered with personal savings.
The Inspector general (rtd) stated this in his remarks titled at the 25th Anniversary ‘Gala Night’ of the Bank which held in Lagos, on Friday 17 August, 2018.
The IG said the cooperative society which is one of the most successful cooperative societies in the country today was begun, when he became the IGP and thought of what to do to further improve on the welfare of police officers in the country.
Luckily the FG came up with the idea of community banks in the country to help alleviate the poor stance of people in the rural areas and grass roots.
“I became interested in this crusade and contacted the then CBN late Abdulkadir Ahmed who incidentally was my classmate at Barewa College and had high regards for me being his classmate, class captain and perfect.
“I sold the idea of coming up with a community bank for the Nigeria Police Force, he bought the idea and further encouraged me for this idea to materialise.
“He gave me a clue that I would have to pay a fee to get the community Bank registered. Also, the then Minister of Finance, Alhaji Sunakar Alhaji further encouraged me to go ahead with my ‘brain child. The registration fee for the Community Bank was five hundred thousand naira(N500,000).
“I had to pay this fees personally from my savings to get the bank registered, having got approval for the take-off of the bank, where to get the operational base became a middle” he said
The former IG stated that he believed “putting the bank at its present site in Lagos will help police families and civilians to transact their businesses easily. When the Bank structure became ready for commissioning, I brought in my very good friend, the Osama of Benin Chief, Igbinedion who also had been a police man initially to commission the edifice. Chief Igbinedion made good contributions at the opening of the bank, some in my name and the police.
HE further revealed that due to inadequate office space and facility, his house in Lagos was party used as operational base and when a branch was opened in Ahuja again, his house in Asokoro was used as the operational base
“As the first Chairman of the Bank in August, 1993, I declined taking salary and my reason was to help police officers and their wives benefit from the meager resources of the bank at the time. Police officers and their families could go to the bank and take loan to run petty trading. Today the bank is opened to the entire country as several branches have been opened in various state capitals”
“Paying tribute to the late assistant inspector general of police, Mrs Rachel Isimenmen Iyamabo, he added that under her leadership, the Cooperative bank progressed into a Microfinance Bank PLC with the sound managerial input of the late GM, Mallam Mohammed Alhassan and other pioneer staff”