About 500,000 farmers and vulnerable people in Nigeria’s North-East zone can now access farming friendly and demand-driven financial services following First City Monument Bank’s (FCMB) partnership with Mercy Corps, a frontline international aid organisation.
The partnership, supported by USAID-funded Feed the Future Nigeria Rural ResilienceActivity, will deliver funding and capacity-building support to smallholder farmers and vulnerable people living in the conflict-affected states of Adamawa, Borno, Gombe and Yobe.
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The Feed the Future Nigeria Rural Resilience Activity aims to facilitate and promote economic recovery and growth in the vulnerable, conflict-affected areas and sustainably move people out of chronic vulnerability and poverty through expanded opportunities.
Speaking during the MoU signing ceremony in Lagos, the Managing Director of FCMB, Mrs Yemisi Edun said: “We are delighted to play another crucial role in developing our local communities and society at large.
“This partnership will significantly improve the living standards of farmers and other vulnerable people by boosting food sufficiency and reducing poverty.
“It will also de-escalate insecurity in the North-East. All of these align with FCMB’s commitment to creating opportunities for individuals and businesses to attain their growth potential.”
A purpose beyond profit commercial banking institution, First City Monument Bank is a member of FCMB Group Plc, led by Ladi Balogun as Group Chief Executive.