Community Bank
The Nigerian community in the United States has put measures in place to establish a community bank.
The proposed bank would serve the interests of the Nigerian community in that country and those at home.
The steering committee of the proposed bank, at a meeting at the Nigerian Embassy in Washington, DC, had said the initiative would advance the credibility of Nigerians in the U.S.
The Chairman of the committee, Dr. Kazeem Bello, said a community could not realise its full potential without access to banking services and capital at a favourable interest rate.
As stated by him, it is the prerequisite for economic emancipation through home ownership and business ficing among others.
As stated by reports, the proposed bank – Nigeria Federal Credit Union – is being promoted by the Nigeria National Association, a non-profit organization in the U.S.
The credit union, when fully established, would be a full-fledged financial, banking, and investment initiative, in service for all, especially Nigerians resident in the U.S., including members of the Nigerian diplomatic corps.
The steering committee of the proposed bank was inaugurated in April by a former governor of the Central Bank of Nigeria and Emir of Kano, Muhammadu Sanusi, during the U.S.-Nigeria Investment Summit in Washington DC.