Lagos, Nigeria – October 9, 2025. The Institute of Entrepreneurship and Apprenticeship Management and Administration (IEAMA) has declared its readiness to become Nigeria’s foremost bridge between small business owners and accessible financing, particularly through structured collaborations with microfinance institutions.
This commitment was unveiled at the maiden edition of its flagship programme, Finance Meet Entrepreneur 2025, held on Thursday, October 9, 2025, at Villa Park Hotel, Industrial Estate, Festac, Lagos, with the theme: “Microfinance Banks as Catalyst for SMME and Growth in Nigeria’s Economy.”
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The event brought together business owners, financiers, policymakers and vocational leaders from across the country and also featured the induction of new members into the institute, marking what stakeholders described as a critical step in the formalization of Nigeria’s informal entrepreneurial sector.
Dr. Adebosin Gbadebo Walid
Formalizing the Igbo Apprenticeship Model for National Expansion
In his welcome remarks, Registrar of IEAMA, Dr. Jerry Ibeh, said the institute was founded to professionalize entrepreneurship and apprenticeship across the country, drawing inspiration from the traditional Igbo apprenticeship system popularly known as Igba Boi.
“When you go to Alaba International Market, which is one of the largest in Africa, most of the young men driving commerce there did not attend business school. They learned by serving their masters for years before being empowered. That informal model has built billionaires. IEAMA is here to formalize it and give them structured mentorship, certification, and access to finance,” he said.
Dr. Ibeh explained that while the model may have originated from the South-East, the institute is fully inclusive, noting that “the founding members are even mostly Yoruba. Our target is not a tribe — our target is entrepreneurs across Nigeria who lack access to knowledge and finance.”
Microfinance as Engine of Economic Inclusion
Delivering the keynote address, Dr. Adebosin Gbadebo Walid, spoke extensively on the role of microfinance banks in expanding financial access to underserved populations.
“Microfinance is not just a banking model — it is an economic enabler. Commercial banks often reject small borrowers, but microfinance institutions provide manageable loans, encourage savings, and empower rural and urban entrepreneurs who would otherwise remain excluded,” he said.
He emphasized that women-led cooperatives stand to benefit significantly when properly guided, adding that “microfinance brings dignity, inclusion, and growth to communities when applied correctly.”
Registrar of IEAMA, Dr. Jerry Ibeh
Financial Literacy as Key to Creditworthiness
The second speaker, Dr. Adeogun Mojisola Abigail, a chartered banker and executive at Prospera Microfinance Bank, who was also inducted during the event, urged entrepreneurs to take responsibility for their financial discipline.
“Funding opportunities exist in Nigeria, but many entrepreneurs cannot access them due to poor documentation and lack of credit structure. Keep proper records, pay your taxes, and build a financial identity — lenders need to trust you before empowering you,” she advised.
She further noted that microfinance banks operate under strict regulation from the Central Bank of Nigeria (CBN) and NDIC, assuring that mechanisms such as loan insurance protect both businesses and financiers in case of disasters, illnesses or unforeseen losses.
New Inductees Commend IEAMA’s Vision
Newly inducted Doctoral Fellow, Dr. Umesegha Joshua Obinna, Managing Director of Prospera Finances Ltd, described the programme as an eye-opener for business owners.
“Many entrepreneurs do not know how to access structured financing. IEAMA is changing that by providing both knowledge and connection. This is not just recognition — it is empowerment,” he said.
Institutional Growth and Strategic Partnerships
In a press chat, Dr. Ibeh revealed that IEAMA has secured partnerships with relevant government bodies and currently enjoys approval to work with NYSC Skill Acquisition and Entrepreneurship Development (SAED) programme, allowing it to recruit and mentor youths nationwide during their service year.
Dr. Adeogun Mojisola Abigail
He added that the institute has recorded six to ten student-level enrollments already and plans to expand massively across community associations (CDAs) in all states.
“We are building an institution that will produce the next generation of entrepreneurs. We have a pledge to present 500 members to the National Assembly within the next one or two years,” he stated.
Looking ahead, the Registrar confirmed that preparations have commenced for Finance Meet Entrepreneur 2026, which is expected to be held in Abuja, with even broader national participation.
Inductees List
Doctorate Fellows
Hon. (Dr) Edwin Ashibudike Nwabaku
Dr. Adeogun Mojisola Abigail
Dr. Umesegha Joshua Obinna
Fellows
Adebosin Gbadebo Walid
Joseph Igberi Atose
Engr. Chijike Colins
Balogun Sakiru Abiodun
Onyekachi Charles Chinedum
Senior Members
Allen Abieyuwa Nneoma
AmforGod Olisa
Ifediba Onyinyechi Judith
Associate Members
Hamzat Omolade
Wilson Chimezie
Michael Offiong
Akinfenwa Opeyemi
Adedipe Precious
Adebowale Daniel
Ugbobuaku Haripriya Isioma
The maiden edition of Finance Meet Entrepreneur 2025 not only highlighted the persistent funding challenges facing small businesses in Nigeria, but also proposed a practical, homegrown solution rooted in mentorship, structured apprenticeship, and microfinance access.
With its expanding membership and institutional partnerships, IEAMA appears poised to play a strategic role in shaping Nigeria’s entrepreneurial landscape in the years ahead.
