Idara Jerome, Eket
Akwa Ibom State Governor, Pastor Umo Eno, has tasked Fidelity Bank Plc with sustaining its collaboration with the state government on the Treasury Single Account (TSA), particularly in the management of the state’s Value Added Tax (VAT) account.
The governor also cautioned the bank against allowing the opening of unauthorised revenue-holding accounts across its branches, stressing the need for strict compliance with the state’s financial management framework.
Eno made the call on Tuesday while speaking through the Commissioner for Finance, Mr Emem Bob, at the commissioning of Fidelity Bank’s new branch at No. 2 Grace Bill Road, Eket.
The governor’s directive came as the bank expanded its presence in Eket, with a pledge to support small and medium-sized enterprises (SMEs), deepen financial inclusion and provide funding for businesses in the oil-rich commercial city and neighbouring communities.
According to Eno, Fidelity Bank’s decision to establish the branch was an indication of its confidence in the economic potential of Eket and Akwa Ibom State.
“The establishment of this branch is a welcome demonstration of Fidelity Bank’s confidence in the growing economy of Akwa Ibom State and particularly the commercial potential of Eket and its surrounding communities,” he said.
He urged the bank to go beyond conventional banking and position the new branch as a vehicle for enterprise development, investment, job creation and inclusive economic growth.
Eno said the state government had continued to create an enabling environment for private-sector investment under the ARISE agenda, urging financial institutions to complement government interventions by making capital more accessible to indigenous businesses.
He disclosed that the state had provided N2 billion in counterpart funding to the Bank of Industry (BOI), which, together with BOI’s matching contribution, had created an over N4 billion financing scheme for micro, small and medium-sized enterprises.
The governor said the programme provides eligible businesses with access to single-digit credit for establishment, expansion, diversification and job creation, describing access to affordable finance as critical to strengthening the state’s indigenous business community.
He therefore challenged Fidelity Bank to leverage its presence in Eket to identify viable businesses, unlock dormant economic assets and provide innovative financial solutions capable of stimulating local enterprise.
Also speaking at the ceremony, Senior Advocate of Nigeria, Chief Asam Asam, urged the bank to make its entry into Eket a partnership with the community rather than merely an avenue for mobilising deposits.
“My challenge to Fidelity is simple. Do not come to Eket only to take deposits. Come and build businesses, unlock opportunities and grow with the community. Even if Eket prospers, Fidelity will prosper,” Asam said.
He described Eket as a strategic commercial centre at the heart of Nigeria’s oil and gas industry, with established businesses and a growing entrepreneurial community capable of supporting the bank’s expansion.
Asam urged Fidelity to establish stronger relationships with the Eket Chamber of Commerce and other business organisations to gain a deeper understanding of the local economy and improve its lending to productive sectors.
He also challenged the bank and other stakeholders to explore ways of unlocking the economic value of underutilised real estate assets in the community, particularly by developing mechanisms through which such properties could support legitimate business financing.
Representing Fidelity Bank’s Managing Director/Chief Executive Officer, the Executive Director, South, Mrs Pamela Shodipo, said the new branch reflected the bank’s confidence in Eket’s economic prospects and its commitment to supporting businesses and individuals in the area.
“Today is about much more than the opening of a new banking facility. It is a statement of our confidence in Eket, in Akwa Ibom State, and in the people whose enterprise and determination continue to drive economic growth,” Shodipo said.
She said the branch would provide banking solutions to individuals, SMEs, corporate organisations and institutions, while the bank’s digital platforms would further expand access to financial services.
Shodipo said Fidelity was particularly interested in supporting SMEs with access to finance, payments, working capital, markets and business advisory services, noting that banking should extend beyond account opening and transactions.
“Banking must enable aspirations, unlock opportunities and provide the capital and financial expertise required for people and businesses to grow,” she said.
She assured residents and businesses in Eket and adjoining communities that Fidelity Bank would build lasting relationships with them, promising that the new branch would serve as a financial partner for businesses and individuals seeking to turn their ideas and investments into sustainable ventures.
