A Review of the Nigerian Energy Industry

CBN approves national banking license for Fortis Mfb

27 August 2015, Abuja — The Central Bank of Nigeria, CBN, has granted a national micro-finance banking license to Fortis Microfinance Bank Plc.

Fortis MFB is currently the largest micro-finance institution in Abuja and the North Central region. The Chairman, Fortis MFB, Mr. Felix Achibiri, in a statement yesterday said the institution was poised to replicate its successes nationwide.

Central Bank of Nigeria, CBN.
Central Bank of Nigeria head office, Abuja.

He said: “Fortis Microfinance Bank Plc from the onset was clear that it will build a world-class bank of Nigerian origin and with the right workforce that places customers at the heart of all its activities”. “With a national banking license Fortis will be driving the Central Bank of Nigeria’s financial inclusion programme across the country by providing financial services to all the states of the federation.

He said: “Our success story over the years will be replicatednationwide and we will also through the use of technology bring banking to the door step of all Nigerians particularly those at the base of the economic pyramid who are either underserved,underbanked or out rightly disenfranchised by the conventional financial service providers”. Fortis MFB Is also the second microfinance bank in the country to be listed on the Nigerian Stock Exchange (NSE) as well as the only microfinance bank to be issued a Mobile Payment license by the CBN.

Achibiri further disclosed that Fortis had partnered and deepened relationships with multilateral companies, governmentagencies and institutions and Non Governmental Organisationsthat share the vision of the institution. He said: “Specifically in order to deepen penetration and bring flexible solutions to our customers we kept fresh our relationships with FMO of Netherlands, Symbiotics of South Africa, African Development Bank, Bank of Industry, Trio dos Bank – Netherlands, USAID, TOTAL E&P, Shelter Afrique, Equator Capital, Cyrano Capital and a host of others still at different stages of discussions and engagements.”

– This Day

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