Microfinance

LAPO Empowers 793,957 Women With Social, Health Services

By Nse Anthony-Uko (Sundiata Finance) – Lift Above Poverty Organization (LAPO) has empowered 793,957 women and other community members in target communities across the country with health and social services between January and July, 2017. The Executive Director, LAPO, Sabina Idowu-Osehobo who stated this at a performance review meeting explained that 187,451 persons received direct services while others were reached ...

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LAPO Empowers 92,156 Farmers With N2.2bn

By Nse Anthony-Uko (Sundiata Post) — The Lift Above Poverty Organization (LAPO) through one of its subsidiaries, the LAPO Agricultural and Rural Development Initiative (LARDI) has spent a total of N2.2billion in empowering 92,156 farmers between January and May, 2017. Sabina Idowu-Osehobo, executive director, LAPO who made the disclosure during a two-day training for staff of LARDI said the beneficiaries are ...

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NPF Microfinanace Bank Pays N342.9m Dividend

By Nse Anthony-Uko (Sundiata Finance) — The NPF Microfinance Bank Plc have paid out N342.9 million as dividend to its shareholders translating to 15 kobo per share having posted a N2.9 billion gross earnings at the end of the 2016 financial year. Speaking at the 23rd Annual general Meeting of the bank in Enugu, the Chairman of the NPF Microfinance Bank ...

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Citi Supports Microfinance Development With N500m

By Nse Anthony-Uko (Sundiata Finance) – Citi bank Nigeria has extended a N500 million loan to Accion Microfinance Bank in what has been described as a move to drive and promote the development of the microfinance sector in Nigeria. A statement by Citi, indicated that the loan is to fund Accion’s loan portfolio and support the development of approximately five ...

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NPF Microfinance Bank Grows Balance Sheet To N18.8bn

By Nse Anthony-Uko (Sundiata Finance) — The NPF Microfinance Bank Plc said its unaudited balance sheet size currently stands at over ₦18.8Billion as at 31st May 2017. The authorised share capital of the bank at inception was ₦500,000.00 made of 500,000 ordinary shares of ₦1.00 each and has over the years increased to its current level of ₦2 billion made ...

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Support MFB Partners Etisalat On Instant Loans To Customers

By Nse Anthony-Uko (Sundiata Finance) — Support Microfinance Bank, in partnership with Etisalat Nigeria, have simplified access to loans through the launch of its new service, KwikCash. The service, which is currently available only on the Etisalat network, was developed for subscribers who have bank accounts and need to access cash loans to settle urgent financial needs. It enables customers ...

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BoI Unveils Interest-free Loans For Women

By Nse Anthony-Uko (Sundiata Finance) — The Bank of Industry (BoI) has unveiled interest-free loans for women artisans, market women and small holder farmers under the National Women Empowerment Fund (NAWEF) intervention scheme by the Federal Government. According to the bank, NAWEF is an aspect of the Federal Government’s Social Investment (Intervention) Programme which is designed exclusively for women and administered ...

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CBN To Sanction Banks Charging MFB Customers For BVN Enrolment

By Nse Anthony-UKO ABUJA, (Sundiata Finance) – The Central Bank of Nigeria (CBN) has said it will sanction banks who charge fees from Customers of Microfinance Banks seeking Bank Verification Number (BVN) enrolment. Rising from the Bankers Committee Meeting in Lagos on Thursday, the CBN will sanction any bank that charges Microfinance Bank customers for. This is against the background ...

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Safaricom Targets Expansion Of M-Pesa Into Nigeria, Angola

By Nse Anthony-Uko (Sundiata Finance) – Safaricom Limited, operators of Kenya’s biggest mobile-banking service M-Pesa is targeting to expand its servcies into Nigeria and Angola, as it grapples with regulatory scrutiny in its home market of Kenya, Bloomberg reports. The sale of a 35 per cent stake in the Nairobi-based company to Vodacom Group Ltd. by parent Vodafone Group Plc ...

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