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MBBOV opens new outlet in Ilodo town


As part of effort to better the lot of Small and Medium-sized Enterprises (SMEs) and provide funds for industrious people in Nigeria, MBBOV Co-operative Society has opened a new business outlet for the people of Ilodo town in Ijebu Imushin Ogun state.

The organisation fulfilled the aspiration of the community as it opened its 15th outlet in the town, which borders with three other major towns in the area.


It was indeed a festive occasion for the community as the royal monarch of the town HRM Kabiyesi Oba Isiaka Olajide Ajede, led the people to the opening of the new MBBOV Co-operative Society outlet during the week.

The HRM ensured that those who mattered in Ilodo Town were all present, to receive the new business in the community. Among those present were: HRH Oba Barrister Adebayo Okubena Elerunwon of Erunwon Ijebu, Oba Joseph Fakoya, the Mojosoke of Ita Marun Ijebu Imushin. Okubena Mukaila Balogun Ilodo, Otunba David Idiabana, President Ilodo Royal Vanguard UK, Hon Adebanjo Adebowale, Vice Chairman Ijebu East Local Government, Chief R.G Oyenuga Oloritun Ikala, Ekejiola Sunday Okuwobi Okudero, the Ekejulu of Ikala in Ijebu Imushin, Hon Otunba Kunle Adegbesan, Alh. (Prince) Adedoyin Yusuff, Otun Akogun of Ilodo Kingdom, Pastor J. A Osolana (JP), Serifatu Quadri the Iyaloja of Ilodo Town, Hon Seun Adesanya and Rev Father Anthony Adetayo amongst others.

Also present were dignitaries from far away in the United Kingdom where the founder of MBBOV Cooperative Society Mrs. Valerie Ayodele is based and where the business idea was conceived years ago.


In his opening remarks the General Manager of MBBOV Co-operative Society Mr. Michael Odafe Ugbewanko, said the sole reason they opened the15th outlet in Ilodo town is to make funds available for small-scale entrepreneurs to grow their businesses.

Ugbewanko who said the organisation sees members of the co-operative as family and friends spoke about the Osusu loan plan, salary advance, sharp-sharp loan plan, education tuition plan and the regular saving schemes, which attract interest for members. He said: “This is going to be a business synergy that will help market women, youth entrepreneurs to grow and help many looks away from white-collar jobs. This has worked at other places where we have set up outlets and we presently have over 5000 customers across our different outlets with a volume of business that runs into several millions of naira and 90 per cent debts collected.”


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IjebuOgun StateSMEs’
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