Gufax Mf Bank Profile

GUFAX MF BANK www. gufaxmf believe. com COMPANY indite GUFAX MICROFINANCE BANK LTD OUR VISION To be the leader in Microfinance patoising Services in Nigeria. OUR MISSION To reduce imp all everyplaceishment and build smiles on the faces of our esteemed customers by transforming them into economically energetic race with full access and integration into the formal financial system. INTRODUCTION Gufax Microfinance swear Ltd. s licensed for operation in Akwa Ibom republic by the underlying rely of Nigeria for the provisual sensation and administration of littlefinance services, adds, advisory services, poverty alleviation programme-partners with organisation or its agencies as well as former(a) financial services. It was corporal on 04 April, 2008 with the Corporate Affairs Commission and Licensed by CBN in September 2008. The lodge has an Authorised Share capital of N250million out of which the nonrecreational up is N120million and total asset base of over N500million, approximately $3. 2Million as at December 31st, 2011.We in any case have total employee/staff might of seventy star (71) and our present customer base is approaching cardinal thousand single(a)s and groups comprising mainly the market women, cooperative groups, transport unions and other minor and medium patronage operators inwardly the state and a percentage of government activity employees. OUR ADDRESS Corporate extend of is at FADUK HOUSE, No. 3 Udotung Ubo Street, Uyo, Akwa Ibom rural area. Presently, the intrust has seven meeting points within Akwa Ibom State as follows Akpan Andem Entrepreneurial trade Uyo in Uyo local Government. Nung Udoe Ibesikpo,in Ibesikpo Asutan topical anesthetic Government.Ikot Ekpene in Ikot Ekpene local Government. Oku Iboku in Itu Local Government. Ishiet Uruan Beach Market in Uruan Local Government. Ibaka Beach Meeting Point, Mbo Local Government Area. Onna Meeting Point, Ikot Abasi Road, Abat. It is part of the strategic expansion plan of the bank to open a minimum of one meeting point either quarter. THE BOARD OF DIRECTORS The bank has a board extremityship of 4 secern persons as sh give birth below Engr Nsikanabasi Ibanga Chairman Engr. Ibanga Engr. Nsikanabasi Ibanga is the Chairman of the Board of Directors of Gufax Microfinance Bank Ltd. He is an roll in the hayd Civil Engineer.Engr. Ibanga served as an Executive Engineer with ENPLAN conclave of Consulting Engineers Nigeria Ltd, EBASCO Consulting Engineers and flair Nigeria Limited for over 10 geezerhood. He has been maked in galore( spatial relationnominal) close and public building designs over the years and is still rattling active in current practice. He is a member, Nigeria troupe of Engineers (MNSE) and also a registered member of the Council for Regulation of Engineering (COREN). He has attended Engineering focal point Workshop and other courses within and outside the country. His pick up has been brought to bear in his leadership o f the Bank.Mr. Uduak Effiong Udo Managing Director/chief operating officer * MD/CEO Mr. Uduak Udo is the Managing Director/ gaffer Executive Officer of Gufax Microfinance Bank Ltd. He is a seasoned Banker with over Ten (10) years of experience in Retail, Consumer and Public firmament Banking. Uduak had stints with Citizens planetary Bank Limited (now Enterprise Bank Ltd) from where he left for Zenith Bank Plc. He grew to a attention position in Zenith Bank and after(prenominal)wards left and co-found a group of financial service companies which Gufax Microfinance bank Ltd is one of them.He holds an MBA Degree in Business Administration from University of Calabar. He is a young buck of Portfolio and Debt worry make (PDMI), a member of the Risk caution necktie of Nigeria (RIMAN), and a member of Institute of Strategic Management (ISMN) and also a member of chartered institute of Bankers of Nigeria. He is also an Alumnus of world Prestigious Harvard Business School, Boston, Massachusetts, USA, where he has been exposed to world class vigilance Education and Entrepreneurship. A serious minded and successful entrepreneur, Uduak has interest in finance and Investment.He has attended courses within and outside the country. The experience of the MD/CEO is a springboard for successful service delivery to our clients. Engr Bassey A. Iton Director QUALIFICATIONS M. Sc Petrochemical Engineering, Moscow Institute of Petrochemical and Gas Industries, Moscow, (1977). Member Nigerian Institute of chemical Engineers. Member Nigerian Society of Engineers. Associate Member AIChE (1978). General Manager, touch Engineering NNPC H/Q. Abuja. Working experience covers the underlisted areas and companiesFederal Superphosphate Fertiliser friendship Ltd. (FSFC), KadunaAugust 1977 June 1978 Warri Refining and Petrochemical alliance Ltd. (WRPC), Ekpan-WarriOctober 1978 January 1980 Kaduna Refining and Petrochemical Company Ltd. (KRPC), KadunaJanuary 1980 December 1990 case Engineering and expert Company Ltd. (NETCO), LagosJanuary 1991 January 2006 NNPC Investment, Engineering & Technical Divisions. AbujaFebruary 2007 November 2009 return Manaagement Duties in NNPC Headquarters Abuja. General Manager Upstream Investment in Commercial and Investment Directorate. .General Manager Process Engineering in engine inhabit Directorate. Project Engineering and Management Services National Engineering and Technical Company. January 1991 to December 2006. Managed underlisted projects Strategic Management Training for world class managers. (June 2008) mini MBA for Oil & Gas in Houston TEXAS October 2009 Engr Iton is amiable & hardworking and is a very discipline Board member of Gufax MFB Mr Mbobo E. Mbobo (ACA) Director * Mr Mbobo Mr. Mbobo Mbobo is a Director of Gufax Microfinance Bank Ltd. He is a seasoned explanationant. Mbobo has worked as an Accountant with A.C. T Nigeria Ltd, Lagos for 3years to begin with moving on to Federal Mortgage Bank w here he worked as a State Accountant for 10years and then a nonher 3years as an analyze Manager with Eddy Ette & Co (Chartered Accountants). He is presently working with the University of Uyo as a part time Lecturer and an Acting Director of Finance with Akwa Ibom State University of Technology. He holds an MBA Degree in Accounting and is working on getting his Ph. D. He is an Associate of Institute of Chartered Accountants of Nigeria (ICAN), an Associate, Chartered Institute of Taxation of Nigeria (ACTI).He has attended courses within and outside the country. He has served as a Resource person at Seminars and Workshops. The experience of this Director is a striking boosts to our service to customers. CORRESPONDENCE BANKS First Bank of Nigeria Plc Access Bank Plc EcoBank external Plc Diamond Bank Plc United Bank for Africa Plc Zenith Bank Plc Skye Bank Ltd OUR PRODUCTS AND operate CURRENT narrative Gufax MFB offers current account services. The account is necessary as most other cash management services are provided with the current account.VOLUNTARY nest egg ACCOUNTS We provide a number of savings products. These overwhelm 1. Regular savings accounts This is the regular savings account operated for a customer for his personal reason. 2. Gufax Heritage Account This account is for Children under the age of 18years. Benefits take on scholarships. 3. Gufax Daily Contri besidesion This is for traders who are desirous of saving a pre-agreed mensuration daily till month end. 4. Gufax Acquired Account This account is for persons who have special(prenominal) targeted items to acquire at a specific time 5. Gufax Festivity AccountThis account is for savings for festivity such as Christmas, Easter, Salah, Marriages etc 6. Gufax Real feel Savings contrivance This is an open ended Asset acquisition proposal for civil servants. Regardless of what you want the Bank buys it for you and your salary is deducted for re feedment over a period not exceeding one year a fter you would have saved 50% of the total cost of the asset. COMPULSORY SAVINGS ACCOUNT 1. GROUP COMPULSORY SAVINGS All group members benefiting from Gufax grouping bring operates a compulsory savings account expected to serve them to build wealth and instil a saving culture in them. . TRICYCLE SAVINGS ACCOUNT All beneficiaries of the Gufax Tricycle Transport Scheme are made to do a weekly compulsory savings for themselves as part of the condition for being a beneficiary of the scheme. work CREDIT PRODUCTS Gufax Tricycle Scheme This product is targeted at the former bike riders in the city of Uyo whose business has been mass by the government and replaced with plug and tricycles. It requires the beneficiary to save 25% of the product cost and the bank pass on acquire such for the person with a tenor of 8months. Gufax Real flavor SchemeThis is targeted at low and medium income government and private sector employees. It is meant to make life meaningful to this class of peop le by make them have unclouded access to any asset that provide add value to their lives and pay from their salary for a tenor not exceeding 18months. Gufax Quick Loan this product is a temporary overdraft facility granted to traders which must be liquidated at the close of work on the last work day of every month. It is targeted at traders who makes daily repayments and with clear potentials to liquidate on or before end of month. FIXED DEPOSIT ACCOUNTGUFAX MFB has a eccentric fixed deposit regime that encourages growth in asset and accretion of wealth with minimal risk. The rates are competitive and attractive but within the Financial and Fiscal Policy Framework of the Central Bank of Nigeria. From as low as a Hundred Thousand, You can own a fixed deposit account with Gufax. SALARY ACCOUNT salary account can be opened for employees of companies/organization at no cost. You only need to send us a letter indicating the label of those that need the account and the rest is for us to do. CO-OPERATIVE AND SMALL GROUP ACCOUNTThis account is opened for formal and informal groups and organizations who are engaged in small and medium businesses targeted at poverty alleviation and wealth creation. CREDIT-RELATED operate The denotation-related services of our bank include 1. Advances and Overdraft 2. Group & Individual Loans 3. Short experimental condition facility against staff salaries. 1. Projects development financing 2. lessened scale business finance 3. Asset acquisition Financing 4. Property/Household equipment Lease. 5. Micro-insurance 6. Co-operative and Small Group (Formal & Non-formal) lending 7. Bridge Finance/LPO financingFINANCIAL ADVISORY SERVICES Gufax MFB also offers a wide range of financial advisory services on optimal financial structure involving a mix of equity/debt financing, enthronization risk management and strategic finance options. CORPORATE SOCIAL RESPONSIBILITIES GUFAXs Faduk Care Trust This is the philanthropic organ of Gufax M FB and is saddled with the responsibility of making sure that the Bank gives back to the confederation. Amongst the programme so far handled by the department includes 1. Scholarships Scheme totalling over a million naira to over 50 beneficiaries from different Educational institutions in Nigeria. . Library Project in quislingism with ICAN, Uyo District and Society. 3. Sponsorships of programmes, seminars and workshops. 4. Gufax Help. Com Tansport scheme for the frustrated Okada Riders affected by Government band of their operation within Uyo Capital City. PREVIOUS STRATEGIC PARTNERSHIPS We have handled many micro credit programs amongst which are i. FADAMA III Programme in Akwa Ibom State still ongoing. ii. Shell Development micro credit for Uruan (LGA) Community iii. Akwa Ibom State Action Committee on Aids (SACA) in their ongoing micro credit programme. iv.Participating MFB for FGN/CBN/IFAD Rural Finance Institution Building Programme (RUFIN) for Akwa Ibom State. STRATERGIC af fair PLAN FOR THE MANAGEMENT OF MICRO-CREDIT FOR THE RURAL ACTIVE POOR IN ONNA LGA. Our dodge of poverty alleviation partnership is a collaborative approach where the Local government provides a counterpart fund and a guarantee for microcredit to be extended by the bank to the rural active poor within the Local Government Area Pre- pay outment training, disbursement, varaning, performance evaluation, recovery, refinancing planning, rendition of report, compulsory savings mobilisation are part of this partnership. Pre-disbursement Training distributively of the beneficiaries of our micro credit will be trained on the basic cash management technique to ensure that there is no diversion of these impute for other purposes. Small and medium enterprises will be duly examined to ensure the consignment of the promoters. We will organize trainings and workshops for the beneficiaries of the loans in line with their trades to help them keep open books of accounts as well as exercise finan cial disciplines. These and other knowingness seminars/workshops keep our beneficiaries on top performance. Selection/DisbursementWe engage the beneficiaries of loans/credits through a thorough and diligent selection /screening process. We disburse funds to groups (formal and informal) and organizations with proper co-ordinations and organization skilled small and medium entrepreneurs as well as individuals with quality business plans for small and medium enterprises. observe We will monitor them through our well trained credit/ correction officers divided into teams and assigned to specific groups/communities and special products of the bank such as group fund management (Government and donor redit scheme funds). retrieval Each group or individual is qualified for the loan with at to the lowest degree two guarantors which one of the following must sign Village channel of the beneficiaries/group clan Head, Paramount ruler, councillors, House of Assembly member or any prominen t member of the community with a net-worth over and preceding(prenominal) the loan amount. Repayment Plan At the commencement of the programme, we shall draw up a repayment plan to enable them know the duration of the loan and the repayment period. Rendition of Report We shall keep a chart (ledger) to monitor daily, weekly and monthly performances and shall constantly present monthly report on the performance of the scheme to the Board and Management for Assessment and Policy formulation. Our Charges Our charges will be on commission basis which is negotiable or a subsidized interest rate. ORGANOGRAM GUFAX MICROFINANCE BANK ORGANISATIONAL CHART pic MANAGEMENT STAFF PROFILE Gufax Microfinance Bank stands out from among its peers because of our uniqueness and personalized services to customers.We parade a team of highly motivated and well trained staff, who will not rest until a customer is satisfied. MD/CEO please check up on as in Directors profiles Mgr-Business Development & S trategy(BDS) * Mr Ubong Udoh is an MBA student of ESUT, Holds B. Sc in Mathematics and Statistics from the University of Calabar, Cross River State, Nigeria. He is also a member of the Statistical Association of Nigeria, Member of the Chattered Institute of Bankers of Nigeria, He has working experience with reputable companies, such as Zenith Bank, Intercontinental Bank and the Central bank of Nigeria spanning over 10 years.He is a a Certified Microfinance Banker(MCIB) of CIBN. He is involve in many Humanitarian services including, Action Aid Intl, Society Against Malaria, SACA, ACOMIN and the UNHCR. He is hardworking and goal oriented. He is friendly but disciplined. * political boss FINANCE OFFICER & HEAD OF AUDIT As Head of knowledgeable Control/ canvass Department of Gufax (MF) Bank, Ubon Akpan has over 20 years experience in Banking, Accounting, Finance, analyseing and General Management traversing both Public and Private Sector Establishments.He started his career at Mercan tile Bank Plc, where he rose to the post of a Supervisor. He later joined A. T. Asikpo & Co (Chartered Accountants) as Audit Supervisor, from where he moved to Frank & General Associates (A firm of Financial & Management Consultants) as Finance & Admin Manager. Thereafter, he got an interlocking at ACCESS Group of Schools as Head of Accounts/ Bursar for 2 years and later as Head of Audit for 3 years, before taking up another appointment as the General Manager of Grafen Enterprises Ltd a Human Resources Management Company in the Oil Services sub sector.He also worked with Ekondo (MF) Bank, Calabar, as a Manager before he joined Gufax (MF) Bank. A Cost and Management Accountant (ACMA), he holds a Higher National Diploma (HND) in Accounting, a Post Graduate Diploma in Management (PGDM) and get the hang in Business Administration (MBA) from the University of Calabar. * MANAGER,BANKING OPERATIONS ADEYANJU LANSEBE is a graduate * MANAGER,BUSINESS exploitation This department is manage d by Ugomma Udonsi who is a highy skilled banker with over 10 years of experience in the banking sector.She started her banking career with Mutual Alliance Savings & Loans Ltd where she worked as Head, Branch Operations/Treasury. She holds HND in Estate Management from Federal polytechnic institute Nekede, Owerri. CONCLUSION At Gufax, we pride ourselves in focusing on the individual customer because we appreciate the fact that each customer is unique. GUFAX MFB is an engine room and hope for economic growth and development of the devastated lower class of our society.As our vision and mission clearly states, we are committed to the evolution of a society where every active poor can smile, please come along. UDUAK UDO MD/CEO www. gufaxmfbank. com MD/CEO Board of Directors COO/SA to the MD M Head, Banking Operations Head, Admin/ Human Resource Head, Audit /Compliance Head, IT Unit efficacious Department Head, Business Development Credit & Marketing Executive / Debt Recovery HR/Admi n Cashiers/Customer Service Officers/Funds Transfer Internal Audit Officers Internal Ctrl Officers IT Officers and Trainees Transports / Security