Emure-Ekiti Embarks on Initiative to Host NIRSAL Microfinance Bank Branch
The people of Emure-Ekiti, under the leadership of His Royal Majesty, Ọba James Babatunde Ajiboye (Otutubiosun Ajigbọtulu I, the Elemure of Emure Kingdom), have commenced a strategic move to attract NIRSAL Microfinance Bank (MFB) to the community, in a bid to ease the financial difficulties occasioned by the absence of banking services in the town.
This new initiative is designed to complement ongoing efforts toward the reopening of the First Bank branch in Emure-Ekiti.
NIRSAL Microfinance Bank, a Federal Government financial institution supervised by the Central Bank of Nigeria (CBN), is widely recognised for its friendly loan policies and support to small businesses, farmers, artisans, and entrepreneurs. Its loans presently attract an interest rate of about 9% per annum, alongside a moratorium period granted to beneficiaries before repayment begins—making it both accessible and sustainable for the grassroots.
Step One: Facility Inspection Completed
On Saturday, August 23, 2025, the Ekiti State Area Postmaster visited Emure-Ekiti for an inspection of the town’s Post Office building, identified as the proposed office for the bank. After a thorough assessment, the building was confirmed to be spacious, strategically located, and requiring only minimal renovation.
Following this development, Kabiyesi Elemure has made a formal request to the Postmaster General of Nigeria in Abuja through the Ekiti State Area Postmaster for the reopening of the Post Office building. The vision is for the facility to serve dual purposes: postal operations and banking services through NIRSAL MFB.
Step Two: Approval from NIRSAL MFB Authorities
The next critical phase of this process is to establish direct engagement with NIRSAL MFB authorities in order to secure official approval for the establishment of the branch in Emure-Ekiti.
The community leadership is therefore calling on well-meaning sons and daughters of Emure, home and abroad, as well as friends of the town who may have useful contacts or influence within NIRSAL or related agencies, to kindly lend their support in fast-tracking this process.
Community Impact
The arrival of NIRSAL MFB in Emure-Ekiti is expected to provide significant relief to residents, reduce financial exclusion, and empower local businesses. It will also strengthen the community’s economic base and contribute to youth empowerment through accessible credit facilities.
This initiative, according to community stakeholders, reflects a collective resolve to reposition Emure-Ekiti for greater development and prosperity.
Signed:
Chief Damola Popoola Ojumu
