Alex Ekwueme Federal University Ndufu-Alike, Ebonyi State and First Bank Nigeria Plc are to collaborate on agency banking in order to bring banking activities closer to staff and students of the institution.

This was made known recently when the Group Head, south south/south east of the bank, Mr. Frank Onyia visited the Vice-Chancellor of the University, Professor Sunday Elom.


L-R: Business Development Manager, Abakaliki Business Development Office, Florence Okoro, VC, Prof. Sunday Elom, Group Head, south south/southeast, Mr. Frank Onyia and Business Manager, Abakali 11, Gozie Aka during the visit
Agency banking is a World Bank Initiative geared towards increasing the rate of financial inclusiveness among the under-banked people. It has been successfully practiced in Kenyan, and is presently being introduced in Nigeria especially in areas that have no access to the traditional banking facilities.

The Vice-Chancellor had during his welcome remarks expressed his excitement for the visit, and called on the bank to partner with the University by constructing students’ hostels under the ‘build, operate and transfer (BOT) system and also to open a branch in the institution to ameliorate the hardship students pass through in accessing banking facilities due to the absence of a bank in the University.


VC, Prof. Sunday Elom espousing a point during the visit
“I am excited for your visit because there are lots of things we can do together. We are a young and fast growing institution with a students’ population of over 9, 500 and a staff strength of 2, 230.

“Right now we are in need of hostels because of the growing number of students. We also want, if possible, for you to open a branch of your bank in the University as there is no bank presently operating here”, the Vice-Chancellor stated.

While responding to the requests made by the Vice-Chancellor and some members of university management, the Group Head, south south/south east of the bank, Mr. Onyia noted that the premier financial institution was ready to collaborate with the University in a number of areas. Nevertheless, he explained that due to the Treasury Single Account (TSA) the bank was handicapped and would not be able to give money directly to the University for the purpose of constructing hostels. He however, stated that the bank is ready to partner with the university by providing car loans and mortgage financing for staff in need of cars and houses as well as career guidance for students of the University.


Group Head, south south/south east, FBN, Mr. Frank Onyia speaking at the event
“We have the wherewithal and capacity to do a lot of things like the provision of car loans and mortgages for staff

“If we are invited we can also be involved in the career guidance of students as we are very much interested in entrepreneurship”, he said.

On the call by the Vice-Chancellor for the bank to open its branch in the University, Mr. Onyia explained that a lot of money, infrastructure and human capital are needed to ensure that, adding that he would take the university’s request to the head office. He however advised the University to imbibe agency banking to bridge the banking gaps even as he also assured that the bank could provide Quick Access Points (QSP) to increase access to financial activities in the institution.

“We can help the University to select some agents that would establish agency banking in the University, and also help to increase the revenue base of your institution”, he said.


VC, Prof. Sunday Elom (5th L) and some members of the University Management in a group photograph with the FBN team lead by the Group Head, south south/south east, Mr. Frank Onyia
On that note the Vice-Chancellor directed that a modality be worked out between the University and the bank for the immediate introduction of agency banking in the institution in order to assuage the financial rip-off students face in the hands of numerous operators of ‘POS’ scattered within and outside the campus, and the loss of man-hour of travelling over 25 kilometers to Abakaliki to access banking needs.

This business visit by First Bank Nigeria plc is a consequence of the Vice-Chancellor’s call for the Organized Private Sector (OPS) to partner with the University in bridging some of her infrastructural gaps especially in the areas of staff and students’ accommodation. Recall that the Vice-Chancellor during his inaugural address to the University Senate and Staff respectively had stated among other things as follows “…Private hostel developers will be encouraged to build more hostels for the students on private partnership agreement. A situation where most of the students live off Campus is not good for our global ranking. ”