The Board of Directors and Executive Committee of Umuchinemere Procredit Microfinance Bank, UPMFB, paid a courtesy visit to the Catholic Bishop of Enugu, Most Rev. C.V.C. Onaga, at his residence on September 1, 2026.
The delegation, which was led by the Board Chairman, Rev. Fr. Msgr Prof. Obiora Ike, included other directors: Igwe Dr. Chike P. Onodugo, Mrs. Nwanneka C. Okolo, Rev. Fr. Wilfred Agu, Rev. Fr. Dr. Stanley C. Ikeche, Mrs. Nnenna M. Ekete, Mr. Charles Udeani, and other EXCOM members.
In his opening remarks, Msgr. Ike gave a brief history of the bank, noting its establishment by the Catholic Diocese of Enugu in 1995 under the late Bishop Eneja. He expressed appreciation to Bishop Onaga for his continued support, which has helped the bank attain significant growth. He described the meeting as one aimed at sharing the story of global transformation and that of the bank, from Bishop Eneja to Bishop Onaga, and from former Chairman Mr. Akachukwu to the present leadership, and now to the newly appointed Chairman, His Royal Majesty Igwe Onodugo.
Msgr. Ike announced that the bank’s 2025 Annual Financial Statement has been approved by the Central Bank of Nigeria. He also extended gratitude to the Bishop for encouraging Parishes and individuals to bank with the diocesan bank. According to its report, the bank’s balance sheet stood at about 6.7 billion naira in assets, with a recent evaluation showing an additional 1.7 billion naira in capital and cash.
He further stated that the bank has expanded to different locations, including educational and medical institutions, through its branches and CMPs, to provide easy access to financial services that support the work of the Church. He assured the Bishop that the bank is stable and not under any threat. In his response, Bishop Onaga commended the continual transformation of the bank and applauded the Chairman for his consistency, diligence, optimism, and love for the Church, even with his wide global engagements as Chairman of Global Ethics.
Speaking on the new leadership direction, the Bishop emphasized the importance of division of labour, noting that the Diocese appoints people of competence to assigned responsibilities to ensure that things work for proper evangelization and good leadership of the people.
He thanked Igwe Onodugo for accepting the role as Chairman of UPMFB and expressed confidence in his capacity to deliver.
The Bishop affirmed that the Church seeks people who are committed to serving humanity with a reasonable way of life, and not merely for capital. “The Church is not a capitalist,” he said, adding that the aim is to uphold ethics. He charged the Board to give meaning to their work as a diocese, stressing that the bank represents the Church’s image in the financial sector. It must therefore project a special identity, not just profit, but “profit with a human face.”
He further praised the bank’s expansion through its branches and CMPs and urged members to maintain high standards, discipline, and love. He expressed the desire for customers to encounter more than ordinary service, but to experience respect, prudence, and care, noting that even the use of “Sir” in addressing a customer is an act of respect. The Bishop assured the bank of his prayers and moral support and formally welcomed the new Chairman.
In his remarks, the incoming Chairman, Igwe Dr. Chike P. Onodugo, assured the Bishop and the Church of his competence and commitment. With over 30 years of experience in the banking industry, he pledged to provide leadership that will sustain profitability at a good level. He acknowledged that the bank belongs to the Church and therefore must be managed with integrity to preserve its reputation. He requested the Bishop’s continual prayers and guidance, noting that the bank relies on his fatherly support.
The meeting ended on a note of renewed commitment to uphold the founding vision of UPMFB as a Church-owned institution that combines sound financial management with Christian values.
By
Rev. Sr. Loveth Onwukwe, [SCHC]
