More access to credit as Lovonus Microfinance Bank expands to Iddo


The bank which has been in business for three years, has decided to bring banking close to its customers, as Iddo Ultramodern Shopping Complex happens to be a hub of business activities, which the bank sees as a greenland it is adequately prepared to conquer.

The relocation was also driven by the need to serve customers better and enable customers enjoy the benefits the bank offers.

Speaking during the opening of the new head office, Usman Onoja, managing director, Lovonus Microfinance Bank, said microfinance banks are created to improve the lives of people and reduce the rate of poverty in the country, as there are lots of poverty in Nigeria.

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According to Onoja, “People need to imbibe the culture of savings. We know of a security man who has been saving with us and today, he rides his own car and this was possible because the bank gave him the support he needed.”

He explained that the bank has a partnership with Stanbic IBTC bank and this partnership enables the bank synchronise their system with Stanbic IBTC’s system, where customers can do banking at ease.

“You do not need to come to Lovonus, you can pay and withdraw from any Stanbic IBTC branch if you have an account with us. You will also use the same account number you use in Lovonus to do your transactions there,” he disclosed.

While shedding light on the services the bank offers, Alfred Okoigun, chairman of the event, said that information technology plays a pivotal role in Lovonus’s quest to bring quality services to its customers.

Okoigun further explained that the bank has provided quality and easy access to banking for its customers through its corresponding banking and ATM channels, which has grown its customer base rapidly.

“Its core banking application software has been upgraded as it provides us with flexible, browser based, more robust and secure platform, which provides users with easy navigation, and is designed to integrate seamlessly with new alternative channels,” he said.


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