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| Executive Chairman, AKICORP, Dr. Elijah Akpan (red tie) in a handshake with Managing Director of Akwa Savings & Loans Ltd, Mr Ekpo & other Management staff |
Dr. Akpan assured the institutions that AKICORP, as their supervising Agency was set to, in collaboration with relevant Ministries, work out modalities and come up with policies in this direction.
At the Akwa Savings & Loans Ltd, the Chairman commended the Management and staff for their dedication and consistency in business and being able to sustain the Bank for the past 25 years, in spite of the many challenges facing them.
Dr. Akpan, in stating Government’s commitment to nurture Akwa Savings & Loans Ltd, said that being the only State-owned bank, it should be the clearing house housing all of government’s investments.
On the request for capital injection, Dr. Akpan pledged that “monies appropriated to you that have not been released will soon be released to increase your capital base so that you will be able to compete, not just within Akwa Ibom State, but nationally’’.
The Executive Chairman disclosed that in view of the many interests in mortgage developments, AKICORP was working on projects that would produce many housing units in the State and that Akwa Savings & Loans will, certainly, benefit from them.
The AKICORP Boss also used the occasion to announce that the administration of Governor Udom Emmanuel was committed to creating local contents and development of human capacity in various areas, aimed at ensuring that when industries eventually arrived, there will be enough man power to work in them.
Earlier, while welcoming the Executive Chairman and Team, the Managing Director of Akwa Savings & Loans Ltd, Mr. Godwin Ekpo, described the visit as historic and heart warming, being “...the first time our Supervising Agency has embarked on-site engagement to see things the way they are in the field, ...signifies positive and productive engagement and collaboration which we have been yearning for over the years”.
Mr. Ekpo told the visiting Team that Akwa Savings & Loans Ltd, established about 25 years ago as Akwa Mortgage Finance Ltd, is a Primary Mortgage Bank (PMB) and wholly owned by the State Government and is licensed by the Central Bank of Nigeria to undertake Mortgage and other ancillary banking services.
He disclosed that the bank has five branches across the State, in Uyo, Eket, Ikot-Ekpene, Abak and Oron, as well as two cash centres in the campuses of Akwa Ibom State University, Ikot Akpaden, Mkpat Enin and Ritman University, Ikot-Ekpene.
Besides being a dominant full service mortgage institution in Nigeria, the Managing Director said his bank was also committed to the development and delivery of quality and affordable homes for every class of persons in the State through the creation and sustenance of value added services, with core values of honesty, integrity, discipline and respect for rule of good corporate governance, as well as zero tolerance for fraud and irregularities.
While enumerating the many achievements of the bank to include sponsoring the development of Metropolitan Estate, Uyo; Raffia City Garden, Ikot-Ekpene; Ibom Estate and Gardens, Uyo, among others, Mr. Ekpo, however, listed the many challenges facing the bank to include inadequate capital base, lack of long term fund to embark on mega estates, lack of adequate patronage by Government, among others and used the occasion to appeal for capital injection in order to strengthen the bank and patronage, for serious and profitable mortgage businesses to be undertaken and also that the bank be given due consideration to manage mortgage-related investments in the State.
From there, the Team moved on to Anchor Insurance Company Ltd where it was described as one of the most cherished and revenue generating investments owned by the Akwa Ibom State Government, in terms of paying dividend into the State coffers by the Executive Chairman, Dr. Elijah Akpan, who also lauded the Management and staff of the company for their diligence, dedication and hard work which had resulted in the many achievements recorded so far.
He noted with delight the great viability demonstrated by the company and its key strategic investments within and outside the State and used the opportunity to remind all Akwa Ibom people of the fact that Anchor Insurance Company Ltd belonged to them and should, therefore, be patronised by all, especially by transport companies.
The AKICORP’s Boss stated that it had become pertinent for both the State Government and its people to adopt Anchor Insurance as their insurance company of choice by giving it all the support needed to thrive.
Earlier, while welcoming the Chairman and his Team to the facility, the Uyo Zonal Controller, Anchor Insurance Company Ltd, Mrs. Mary Abraham, disclosed that the company has been in existence for over 25 years, was privatised in 2003 and since then has been making remarkable progress.
She told the visiting Team that the company, in the last four years, has made and recorded huge profits, from which it has been able to pay dividend to the State Government in four consecutive years; adding that the company has made huge investments including the building it was domiciled in and another one under construction along Wellington Bassey Way, as well as in Cross River State.
The Zonal Controller also disclosed that the 2014 Account of the company has been approved by National Insurance Corporation of Nigeria (NICON), and described it as a great feat by the company.
While expressing appreciation to the Executive Chairman for the visit, Mrs. Abraham noted with pleasure that it was the first of its kind by a Supervising Agency and used the opportunity to passionately appeal for patronage from the State Government, which according to her, would go a very long way in the growth of the Company, while pledging her Company’s determination to continue to work assiduously towards the realisation of the company’s set goals.
The Team also took out time to inspect the company’s property under construction along Wellington Bassey Way in Uyo.
Also on the Team were the Executive Director (Operations), Mr. Imo-Abasi Jacob; Director, Investment Promotion & Appraisal (IPA), Mr. Aniekan Abraham; Company Secretary & Legal Adviser, Barr. Emmanuel Umoh; Deputy Director, Project Implementation & Supervision (PIS), Mr. Emmanuel Akpan; Deputy Director, Entrepreneurship & Business Development, Mr. Sunday Ekpo; Deputy Director, IPA, Ms Udeme Edward and Chief Investment Officer, PIS, Mr. Emmanuel Emaemek, among others.
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