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CBN grants La Fayette Microfinance Bank national operating licence

The Central Bank of Nigeria (CBN), has granted Advans-La Fayette Microfinance Bank a national operating licence.

Following the CBN nod to function as a national microfinance institution, Advans-La Fayette would no longer function as a regional microfinance bank. Instead, it can now function anywhere in the country.

At a ceremony held to mark the newly-acquired licence in Ibadan, the Managing Director and Chief Executive Officer of the bank, Guillaume Valence, said the acquisition of the licence was a major milestone for the bank and a piece of good news for medium and small scale enterprises.

New milestone for La Fayette: Valence said the bank was aware of the determination of the Federal Government to ease the process of doing business in the country and also to empower small and medium scale entrepreneurs and make them have access to capital.

According to him, La Fayette would be deploying modern banking techniques to make banking fun for its customers and also contribute to the growth of the economy.

He emphasised that the bank did not get the licence so as to make up the number. “With this new development, advans-la fayette microfinance bank is poised to become one of the major players in the nation’s banking industry.

We are not in the industry to make up the number. We are here to provide the kind of service that will be second to none. We want to earn the confidence of the banking world and we will achieve that.”

About La Fayette: As a member of the Advans GroupLa Fayette was licenced as a financial institution by the apex bank in 2012 and started offering a complete range of financial services and means of payment for its customers including savings accounts, current accounts and fixed deposit accounts. 

Over the years, the bank has grown to become one of Nigeria’s leading microfinance banks; fully committed to responding to the needs for financial services of micro, small and medium-sized enterprises (MSMEs). It also caters to other members of the public who have little or limited access to formal financial services, through the provision of tailored financial services in a sustainable and responsible manner.

Source: nairametrics

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