FirstBank Supports Imo State’s OKOBI Initiative to Boost Employment

By Babajide Komolafe

FirstBank has pledged support for the Imo State Government’s One Kindred One Business Initiative (OKOBI), a community‑based entrepreneurship programme aimed at creating jobs, expanding financial inclusion and fostering sustainable wealth through collective business ownership.

The bank said the partnership reflects its commitment to empowering small and medium enterprises, deepening financial inclusion, and advancing long‑term socio‑economic development throughout Nigeria.

OKOBI was conceived by Governor Hope Uzodimma and is grounded in traditional African values of communalism, kinship and collective responsibility. The programme formalises groups of like‑minded individuals into registered businesses, thereby increasing their resilience, improving access to finance and better equipping them to address poverty in both rural and urban areas.

Since its launch in 2023, the initiative has registered more than 600 businesses and approximately 20,000 members, and it aims to create or support 100,000 jobs over the next three years.

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

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. 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.”

Chief Economic Adviser to the Imo State Government, Professor Kenneth Amaeshi, described OKOBI as a viable solution to unemployment and informality, noting the programme’s remarkable success in a short period.

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