The Ibom FADAMA Micro Finance Bank was inaugurated on the 28th of January, 2022 by Governor Udom Emmanuel as a financial institution for farmers and other Small and Medium Scale Entrepreneurs in the state.
Akwa Ibom State Governor, Udom Emmanuel has appointed his anointed successor, Pastor Umo Eno as the Chairman of the newly formed Ibom FADAMA Microfinance Bank as part of plans to empower and raise funds for his governorship campaign.
The Ibom FADAMA Micro Finance Bank was inaugurated on the 28th of January, 2022 by Governor Udom Emmanuel as a financial institution for farmers and other Small and Medium Scale Entrepreneurs in the state.
Umo, who is the Commissioner for Land and Water Resources, was appointed as Chairman of the bank while Mrs. Imaobong Etuk is to serve as Managing Director.
SaharaReporters gathered that the bank was hurriedly inaugurated to commence operations barely 48 hours to the controversial stakeholders’ meeting where Umo Eno was presented as the Governor's anointed successor.
A source within the inner circle of the Governor said there was a meeting sometime last year where the plan to empower Eno financially was discussed to enable him independently fund his campaign.
It was also gathered that as part of efforts to raise funds for Eno, one of the stakeholders at a meeting suggested that Eno should be given a huge contract by proxy or another juicy portfolio since he does not have the financial capacity to fund a campaign of that magnitude.
The governor thereafter appointed Eno as Chairman of Akwa Ibom FADAMA Micro Finance Bank Limited with a view to making the bank his financial base for his campaign.
It was also gathered that the governor had deliberately weakened the power of the Managing Director of the bank to make it possible for Eno, who is the Chairman to wield more powers and take major decisions in the day-to-day activities of the bank.
“The bank which is meant to cater for the needs of micro, small and medium scale enterprises, boost investment drive and strengthen the private sector economy in the state has now been subjected to political influence with a view to plundering the state resources to favour the anointed one and his associates,” the source said.
SaharaReporters had reported how the governor unveiled his anointed successor at a stakeholders’ meeting led by a former governor of the state, Obong Victor Attah, and a few others.
The action has raised serious dust within the ruling party, the Peoples Democratic Party (PDP), in the state as most leaders and governorship aspirants claim such was undemocratic and not in sync with the people's choice.
When SaharaReporters called Ini Ememobong, the state Commissioner for Information and Strategy on the phone, he declined to speak on the issue, saying our reporter should direct his questions to Eno.
Eno, however, did not answer calls to his mobile phone nor reply to a text message sent to him.