Nigeria: Lapo MFB Wins Award

8 March 2021

Lapo Microfinance Bank has emerged winner of the 'Most Supportive Bank Year 2020' award category, during the Central Bank of Nigeria (CBN) Agricultural Credit Guarantee Scheme Funds (ACGSF) Farmers' Award held recently.

The bank had in 2012 joined the Agricultural Credit Guarantee Scheme Fund (ACGSF) to provide credit support to farmers across the country in a sustainable manner.

In a signed statement by the company's Head of Communications and Branding, Oluremi Akande, the company revealed that between January 2012 and December of 2020, it disbursed over N27 billion to its customers and has presence in 34 states, including the FCT, with a reach of over 34,000 farmers and agro-allied operators across Nigeria.

According to Akande, "to achieve sustainable economic growth requires amongst other things a healthy and productive manpower. Our partnership with the ACGSF is strategically aimed at economic empowerment of farmers, food sufficiency, healthier and productive citizens leading to economic growth and prosperity.

"In the ACGSF Farmers Award 2020, State Category, LAPO MfB supported 46 Winners and Runner Ups out of the total number of 86 awardees representing 53 per cent of the entire award recipients in the country.

"We plan to disburse over N12 Billion in 2021 to empower more farmers and to contribute to national economic growth.

"We remain committed to our over 30 year's mandate of social and economic empowerment of members of low-income households, farmers and owners of micro, small and medium enterprises in Nigeria."

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