FirstBank backs Imo State’s OKOBI  initiative to boost jobs

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By Babajide Komolafe

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FirstBank has thrown its weight behind the Imo State Government’s One Kindred One Business Initiative (ÓKÓBÌ), a community-based entrepreneurship programme designed to stimulate job creation, expand financial inclusion and promote sustainable wealth creation through collective business ownership.

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The bank said its support aligns with its commitment to empowering small and medium enterprises, deepening financial inclusion and driving long-term socio-economic development across Nigeria.

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ÓKÓBÌ, conceived by Imo State Governor, Hope Uzodimma, is built on traditional African values of communalism, kinship and collective responsibility. The initiative formalises groups of like-minded individuals into registered businesses, making them more resilient, easier to finance and better equipped to tackle poverty in rural and urban communities.

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Launched in 2023, the initiative has registered over 600 businesses with about 20,000 members and is targeting the creation or support of 100,000 jobs within three years.

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Speaking on the partnership, Chief Executive Officer of FirstBank Group, Olusegun Alebiosu, said: “Peer accountability remains a powerful driver of sustainable enterprise growth. The ÓKÓBÌ initiative exemplifies this by transforming existing social capital into tangible economic value for communities.”

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He added: “FirstBank is proud to support the Imo State Government in this forward-looking programme, which goes beyond traditional financing to embed financial inclusion directly within group-based enterprises.

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“By supporting these collectively owned businesses, we are helping to stimulate economic empowerment at scale, creating a self-sustaining ecosystem where wealth creation is inclusive, participatory and widely shared. This initiative aligns with our broader commitment to enabling small and medium enterprises, deepening financial inclusion, and driving long-term socio-economic development across Nigeria.”

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Also commenting, Chief Economic Adviser to the Imo State Government, Professor Kenneth Amaeshi, described ÓKÓBÌ as a viable solution to unemployment and informality, saying the programme had demonstrated remarkable success within a short period.

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He urged more corporate organisations to adopt and support the model, stressing that it empowers people to become business owners, strengthens group enterprises and promotes sustainable economic development.

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