The Redeemer’s University, Ede, Osun, on Tuesday, inaugurated its microfinance bank – RUN Microfinance Bank Ltd.
The bank is located within premises of the university.
At the inauguration, the Vice-Chancellor of the university, Prof. Shadrach Akindele, said that setting up the bank was part of the university’s commitment to financial inclusion and empowerment.
Represented by his Deputy, Prof. Ahmed Yerima, Akindele said that the bank was a Christian faith-based microfinance bank established to be run with the fear of God and integrity of purpose.
“Our mission is to provide access to financial services for our students, staff, and local communities, promoting economic growth and well-being.
“This microfinance bank is a testament to our university’s dedication to fostering socio-economic development,” he said.
In his remarks, Dr Daniel Ogun, Chairman of, the Board of Directors of the bank, promised that the board would provide leadership of integrity, transparency, and accountability.
“We promise to create a work culture of Christian ethics, and integrity and ensure effective management oversight.
“All our stakeholders, staff, and management, shall be held accountable and responsible to our creed of core values, all of which are God’s expectations of us as a Christian organisation.
“We already have a strategic plan to move the bank from a unit microfinance bank to a state and national bank, respectively,” he said.
Mr Abiodun Durowoju, the Pioneer Managing Director and Chief Executive Officer of the bank, said that the opening of the bank marked a significant milestone in a journey to empower Osun residents.
“We aim to bridge the financial gap, promote economic growth and improve the well-being of our communities.
“Our target is to empower individuals, families, small and medium enterprises, and communities through access to financial services.
“Our microfinance is committed to providing affordable, convenient, and innovative financial solutions to our clients,” he said.
