CBN Approves National Banking License for Fortis MFB

The Central Bank of Nigeria (CBN) has granted a national microfinance banking license to Fortis Microfinance Bank Plc.

Fortis MFB is currently the largest microfinance institution in Abuja and the North Central region.

The Chairman, Fortis MFB, Mr. Felix Achibiri, in a statement yesterday said the institution was poised to replicate its successes nationwide.

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.”

With a national banking license, Fortis will be driving the Central Bank of Nigeria’s financial inclusion programme across the country by providing financial services to all the states of the federation.

"Our success story over the years will be replicated nationwide and we will also through the use of technology bring banking to the door step of all Nigerians particularly those at the base of the economic pyramid who are either underserved, under banked or out rightly disenfranchised by the conventional financial service providers,” he said.

Fortis MFB Is also the second microfinance bank in the country to be listed on the Nigerian Stock Exchange (NSE) as well as the only microfinance bank to be issued a Mobile Payment license by the CBN.

Achibiri further disclosed that Fortis had partnered and deepened relationships with multilateral companies, government agencies and institutions and Non Governmental Organisations that share the vision of the institution.

He said: “Specifically in order to deepen penetration and bring flexible solutions to our customers we kept fresh our relationships with FMO of Netherlands, Symbiotics of South Africa, African Development Bank, Bank of Industry, Triodos Bank – Netherlands, USAID, TOTAL E&P, Shelter Afrique, Equator Capital, Cyrano Capital and a host of others still at different stages of discussions and engagements."