NPF Microfinance Bank Seeks CBN Approval To Deepen Operations

Yemisi Izuora
The NPF Microfinance bank said it is willing to offer more lending opportunities to Small and Medium Enterprises (SME’s) in the country at a single interest rate to boost their operations.

The bank said it is currently working out modalities to spread its services across the country with the aim to accommodate many of the SME’s that requires funding.

To achieve this, the bank has formally applied to the Central Bank of Nigeria (CBN) for approval to open more branches in line with its penetration plan.

Speaking at the opening of its ultra modern branch in Kaduna,the Inspector General of Police Solomon Arase said the bank already has 19 branches connected online real time nationwide and has applied for CBN approval of additional 18 branches.

Arase who was represented by D’ Azumi  Doma Deputy Inspector General of Police (DIG) in-charge of Finance and Administration Police Force Headquarters Abuja assured of the banks commitment support governments efforts to promote financial inclusion.

The IGP also noted that branch network spread of the bank aims  towards reaching the various police men and women working at different states of the country as well as the civilian population.

“The turnout at the commissioning is very impressive and a very good indication of the acceptance the bank has gained over its 23 years of service to the active poor and the men and officers of the Police Force” Arase remarked.

Also, the banks chairman, of board of directors Mr Azubuko Joel Udah (DIG Rtd)in his address promised that the bank will continue to increase the frontiers of Microfinance banking in Nigeria and assured that the bank is a safe haven for the money of the Officers and Men of the Force and the general public.

He said the bank is manned by a strong board that is alive to its responsibilities with diverse experience in various fields of endeavour.

He solicited for more patronage from the Police and the public as the bank maintains various accounts suitable for different purposes.

According to him, the bank has secured various intervention funds from CBN and Bank of Industry (BoI) which it lends at a single interest rate to the public and has also played active role in sustaining a lot of SMEs

The Emir of Zazzau who was represented by  Alhaji Yusufu Ladan, Dan Iyan Zazzau,District head Kabala area, Kaduna promised to ensure that the bank is provided with a conducive environment to render services to the people of his emirate and the kaduna as a hub of business activity in the North.

The Managing Director of the bank, Mr Akin Lawal urged all Policemen to transfer their salary accounts to the bank so that they can benefit from their cheap loans.

The NPF Microfinance Bank Plc has continued to be a good flagship of all Police investment outfits with very well trained staff and bespoke service delivery to their various customers, he said.

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