The chairman of Fortis Microfinance Bank confirmed the licence approval during the bank’s meeting held on Tuesday, August 25.
Felix Achibiri said that with the national licence, the bank would be able to provide more credits to business enterprises across the country, The Punch reports.
The chairman added that the obtained licence would also enable the bank to drive the financial inclusion programme of the CBN across the country by providing financial services to all the states of the federation.
He said: “Fortis Microfinance Bank Plc from the onset was clear that it will build a world-class bank of Nigerian origin and with the right workforce that places customers at the heart of all its activities.Our success story over the years will be replicated nationwide and we will also, through the use of technology, bring banking to the doorstep of all Nigerians, particularly those at the base of the economic pyramid who are either underserved, underbanked or completely disenfranchised by the conventional financial service providers.”
Achibiri stressed that the bank had entered into partnership with other financial institutions such as the African Development Bank and the Bank of Industry in order to provide innovative banking services to its customers.
Shareholders of the bank gave approval to the proposal of the board to raise additional capital through private placement from the issuance of 656,666,668 units of ordinary shares at N1.50k per share.
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