DBN bags financial inclusion award for dedication to MSMEs

The Development Bank of Nigeria (DBN) has been honoured with the Financial Inclusion Leadership Award for its dedication to empowering Nigerian Micro, Small and Medium Enterprises (MSMEs) through accessible financing.

DBN was honored with the award at the ‘Champions of Inclusion Nigeria Financial Inclusion Awards’ during the International Financial Inclusion Conference (IFIC) 2024, hosted by the Central Bank of Nigeria (CBN) in partnership with the World Bank.

Tony Okpanachi, DBN’s managing director/CEO, expressed pride in winning the award, stating that it validated the bank’s dedication to providing financial access to Nigerian MSMEs.

“We are honoured to receive the Financial Inclusion Leadership Award, which is a testament to our bank’s commitment to expanding access to financial services for all Nigerians. This award recognises our efforts to bridge the financial inclusion gap, particularly for a priority sector like the MSMEs,” he stated.

Okpanachi noted that the award was a validation of the bank’s strategic focus geared towards financial inclusion for small businesses, “and we are proud to be at the forefront of this initiative that drives that. We will continue to innovate and expand our financial inclusion programmes, ensuring that more Nigerian small and startup businesses have access to services.”

Bonaventure Okhaimo, chief operating officer of the Bank, while receiving the award on behalf of DBN, appreciated the organisers for the recognition, describing it as a significant milestone.

Okhaimo said the recognition was a significant milestone that proved the dedication of the bank to drive economic growth and create wider opportunities for MSMEs.

The COO stated further, “This award will motivate us to continue pushing the boundaries of financial inclusion, exploring more innovative solutions and partnerships to expand our reach and impact. We are committed to ensuring that more small businesses and startup enterprises in Nigeria have access to financial services, this award will further inspire us to accelerate our efforts in this regard.”

The Financial Inclusion Leadership Award is a key highlight of the International Financial Inclusion Conference (IFIC) and celebrates exceptional contributions to actions aimed at achieving the goals outlined in Nigeria’s National Financial Inclusion Strategy 3.0.

The award recognises organisations and individuals across various sectors who are driving meaningful dialogue, and broadening access to financial services for low-income excluded priority segments, including the MSMEs sector, with inadequate funding being one of the challenges that inhibit the growth of small businesses in the country.