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“Succour for the SMEs our priority”- Mike Olaiya

First Bank Nigeria

In a swift reaction to proffering immediate solutions to the myriad of problems created by this economic recession, a financial institution through its head of Investment and projects, has outlined a number of solutions that can get the country out of the present economic woes.

Speaking to a cross section of stakeholders and prospective customers at their head office in Ikeja, Mike Olaiya said a new breath of life has just been injected into the company giving it a new lease of life.

With this new management team, a new direction, stronger vision, fresh ideas, and a stronger capital base is being provided to assist the SMEs boost their capacities and contribute to the country’s exit from the economic recession.

The Company, UT FINANCIAL SERVICES NIG. LIMITED, is a subsidiary of UT Holdings, Ghana which consists of UT BANK of GHANA, UT Logistics, UT Life etc. It commenced operations in Nigeria in 2009 with the sole objective of partnering with small scale businesses so as to fulfill their hopes and aspirations.

According to Olaiya, who incidentally is the son of Rev. Joe Olaiya,”UT FINANCIAL SERVICES, is working on bringing in fresh funds to expand our scope of operations into strategic areas of the economy like Agriculture, Housing, Oil and Gas, Trade, Manufacturing, Maritime and personal Financial Advisory services”
This according to him ” will support Federal Governments desire to stimulate demand and come out of recession”

In his own contribution , the operations manager Felix Osadiaye said “UT FINANCIAL SERVICES, have supported in no small measure businesses in the Oil & Gas, construction,communication, trade and commerce and offering financial services to individuals”.

It is pertinent to mention that the new management team of UT FINANCIAL SERVICES is being spearheaded by a seasoned Investment Banker, in his capacity as Chief Operating Officer who will bring his vast knowledge of Local and International experience to take the company to greater heights.

For construction in the housing sector, Mike Olaiya is of the opinion that government should exempt builders from tax during the period of construction and that government should partner with institutions like UT to be able to execute projects and deliver value to customers through its several value adding market borrowing/investment products.

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