Promoting financial inclusion, Accion MFB targets Ogun State low income-earners

Accion Microfinance Bank Limited, one of the leading microfinance banks in the country is set to commence operations in two locations of Ogun State – Sango Ota and Akute.

Accion MFB was licensed by Central Bank of Nigeria (CBN) and started operation in 2007 with a mission of targeting the financially excluded with financial services in a sustainable, ethical and profitable manner.  The bank became a national microfinance bank, as licensed in December 2014, having met the minimum capital requirement as prescribed by the CBN.

With its solid shareholder investments from Accion International and three major banks – Ecobank, Zenith Bank and Citi Bank as well as International Finance Corporation (IFC)- a subsidiary of the World Bank, the bank since inception, has disbursed about N 50 billion loans to about 227 million people.

The bank currently operates 31 branches in Lagos and had its first branch outside Lagos in Port Harcourt last year and is at the verge of opening the second branch. The bank is set to offer its variety of financial services and products ranging from savings, current, fixed deposit accounts, micro loans, Asset Loan, SME- small and medium enterprises loans, insurance and e- channels which will definitely lend hand to government efforts in alleviating poverty among the low income earners and people in the bottom of the pyramid and offer other socio- economic benefits to the host community.