Lagos – Dr Godwin Ehigiamusoe, the Managing Director, Lift Above Poverty (LAPO) Microfinance Bank, says the bank targets a five million customer base by 2017.
Ehigiamusoe told The Nigerian Observer in Lagos on Wednesday that as at the end of the 2014 financial year, the bank’s customer base had hit 2.2 million.
He added that 92 per cent of these customers were women.
“In further commitment to alleviating poverty in sub-Saharan Africa, LAPO committed N113.7 billion to boost Small and Medium-Scale Enterprises (SMEs) in the 2015 financial year.
“As we speak, over 2.5 million Nigerians and Sierra Leoneans have directly accessed a range of our bank’s services,’’ he said.
According to Ehigiamusoe, the bank has some `romantic strategies’ in the pipeline to create awareness for its financial services and achieve its target.
He said the tactics would specifically benefit SMEs, adding that it would be unwise to disclose the strategies now.
The LAPO chief, however, assured that applying the tactics would increase its customer base.
He said there were many small-scale entrepreneurs who do not yet have access to finance because they could not meet the stringent conditions set by the commercials banks for accessing loans.
“LAPO will not make access to its finance difficult and will bring the concerned to financial liberty.
“To assist us, the African Development Bank Group (AfDB) also granted us a N2.364 billion credit facility in 2015,’’ Ehigiamusoe said.
He said the bank’s growth and development over the years was largely hinged on the commitment and dedication of its staff.
He added that 92 per cent of these customers were women.
“In further commitment to alleviating poverty in sub-Saharan Africa, LAPO committed N113.7 billion to boost Small and Medium-Scale Enterprises (SMEs) in the 2015 financial year.
“As we speak, over 2.5 million Nigerians and Sierra Leoneans have directly accessed a range of our bank’s services,’’ he said.
According to Ehigiamusoe, the bank has some `romantic strategies’ in the pipeline to create awareness for its financial services and achieve its target.
He said the tactics would specifically benefit SMEs, adding that it would be unwise to disclose the strategies now.
The LAPO chief, however, assured that applying the tactics would increase its customer base.
He said there were many small-scale entrepreneurs who do not yet have access to finance because they could not meet the stringent conditions set by the commercials banks for accessing loans.
“LAPO will not make access to its finance difficult and will bring the concerned to financial liberty.
“To assist us, the African Development Bank Group (AfDB) also granted us a N2.364 billion credit facility in 2015,’’ Ehigiamusoe said.
He said the bank’s growth and development over the years was largely hinged on the commitment and dedication of its staff.
