BusinessDay
Nigeria's leading finance and market intelligence news report.

LAPO disburses N27bn from CBN’s Agric fund, wins best supporting bank of year 2020

LAPO Microfinance Bank has won “Most Supportive Bank Year 2020” award in the National Category under the Central Bank of Nigeria (CBN) Agricultural Credit Guarantee Scheme Funds (ACGSF) farmers’ award, after disbursing N27 billion to customers.

In 2012, LAPO Microfinance Bank joined the Agricultural Credit Guarantee Scheme Fund (ACGSF) to provide credit support to farmers across the country in a sustainable manner. From January 2012- December 2020, the Bank has disbursed over N27 Billion with presence in 34 states including the FCT, Abuja, reaching over 34,000 farmers and agro-allied operators across Nigeria.

Oluremi Akande, head, communications and branding said “to achieve sustainable economic growth requires amongst other things a healthy and productive manpower. Our partnership with the ACGSF is strategically aimed at economic empowerment of farmers, food sufficiency, healthier and productive citizens leading to economic growth and prosperity”

Furthermore, Akande reiterates “in the ACGSF Farmers Award 2020, State Category, LAPO MfB supported 46 Winners and Runner Ups out of the total number of 86 awardees representing 53% of the entire award recipients in the country. We plan to disburse over N12 Billion in 2021 to empower more farmers and to contribute to national economic growth”

LAPO is committed to its over 30 years mandate of social and economic empowerment of members of low-income households, Farmers and owners of micro small and medium enterprises in Nigeria.

Get real time updates directly on you device, subscribe now.

Comments are closed.