Read: Helicopter company calls on external investigators to audit operations in Nigeria

The governor said while answering questions that the request for the microfinance bank project has been sent to CBN and plans are being made to get the license to run.

“We have met with the CBN governor and we believe we should set up a Micro-finance Bank quickly and get our license running to help the Small and Medium Entrepreneurs (SMEs) and artisans,” he said.

Read: See how NEMA officials rescued 11 passengers [PHOTOS]

Ambode added that the microfinance bank would lend money to SME’s and artisans at a 3% rate. He explained that the Employment Trust Fund established by his administration and the Micro-finance Bank would boost the state’s economy and reduce unemployment.

During this speech, he thanked Babatunde Raji Fashola, his predecessor for building the platform and promised to sustain it by holding it twice.