It was a special day at Iwere-Ile, Iwajowa Local government area of Oyo State as the Catholic Diocese of Oyo unveiled and commissioned a branch of Ave Maria Multipurpose Investment Limited (AMMIL). Recalled that the Microfinance institution was established and commissioned by His Grace,Most Rev.Dr Gabriel Leke’ Abegunrin and the founder bishop, Most Rev.Dr. Emmanuel Adetoyese Badejo on September 18, 2018 in Oyo town.
The institution has since been waxing stronger, gaining public trust in Oyo and environs. AMMIL is a Micro-Credit institution aimed at empowering and supporting the active poor, acting as a go between the rich and the poor who want to do small business and help them avoid complex bottleneck requirements in normal banks.
In his keynote address, the Coordinator, Justice Development and Peace Movement (JDPM) Oyo who also doubles as the Director of the Microfinance institution, Rev Fr Adeleke Gabriel, on behalf of the Bishop, Most Rev, Emmanuel Adetoyese Badejo, welcomed all the guests and appreciated their cooperation, more importantly the cordial relationship between the institution and the people who have been patronizing the institution since it began operation in Oyo last year. He noted that AMMIL has come to stay for the betterment of the people in the area and beyond, adding that the institution evolve around one of the aims of the Catholic Church which believed in an egalitarian society.
Rev Fr Gabriel said the people of Iwere Ile and other neighboring towns should utilize the opportunity to improve their businesses. According to him, the diversity of businesses in recent time calls for a creative ideas and funding in order to enable people realize their full potentials. He maintained that AMMIL aimed at ensuring a comfortable life for all people irrespective of religions or ethnic affiliation through financial inclusion system.
Speaking further, the Managing Director, Ave Maria Multipurpose Investment Limited (AMMIL), Mrs Lara Oluwayemi, congratulated the people of Iwere for the achievement, stressing that the institution came at the right time when many small business owners are lacking financial capacity to expend their businesses. She pointed out that AMMIL collects money from Catholic and non-Catholic investors who have a little more, and who generously entrust some of their money to the Catholic Church for a period of time for helping the poor in form of loans and credit facilities.
“AMMIL is not a commercial bank trying to make profit at all cost by crushing all and sundry. But a sustainable empowerment program,hence, whoever obtain loans in any form must pay back or be made to pay”.
She assured the residents of Iwere Ile and neighboring towns that AMMIL is totally different from the previous financial institutions experienced in Iwajowa Local Government adding that the Microfinance Institution is a reliable one that has come to make life better for traders, artisans, farmers, teachers among others. The MD further stated that AMMIL came with a modern financial transaction package through the use of POS, EPOSS, ATM Card, BVN registration and lot more.
Present at the event were: Oniwere of Iwere ile, Onitasa of Itasa, Trade Associations, religious leaders, youths, Rev Fathers from different Parishes among others were present. They appreciated the gesture and hoped the Microfinance institution will improve the economic status of people in the area.