Moneytronics MFB Celebrates 30-years of Supporting businesses

Moneytronics Microfinance Bank Limited has marked 30-years of supporting businesses and economic activities in Nigeria with loan facilities, and boosting government efforts on financial inclusion.

Managing Director of the bank, Ndubuisi Chijioke Okoli in a media chat with journalists on activities to mark the bank’s 30th anniversary said, “The 30th anniversary gives us a solemn opportunity to praise God, look back at the journey so far, viz-a-viz present situation in the banking industry and our plan for the future”.

He used the occasion to appreciate the pioneer Board of Directors led by Moshood A. Adelakun that conceptualized the establishment of the bank as a community bank in 1992, and the tenacity of the current board that took over the control of the bank in 2019, and introduced dynamic process changes to transform the operations to a befitting modern bank. 

Speaking, the bank’s Business Development Manager, Olorunleke Dare Ojo said the bank has supported individual and corporate clients with loan products including auto loan, pearl loan, pensioners loan, business/SME loan, no landlord wahala loan, loan extra product, go to sleep school fees loan, house furniture/equipment loan, corporate guarantee loan, church growth support loan and corporate loan.

Head – Audit, Risk Management and Compliance Department, Adenike Janet Olabiran, said, “over these 30 years period, our Liquidity Ratio and Capital Adequacy Ratio have been far above the regulatory requirements. Indeed, it is now by far more than 400 percent above the requirements.”