NPF MICROFINANCE BANK CELEBRATES 25 YEARS AS LEADING MICROFINANCE BANK IN NIGERIA - Tony Okpe

 

               

NPF Microfinance Bank Plc. (Formerly NPF Community Bank Ltd) was incorporated on the 19th May, 1993 as a Limited Liability company under the provision of the Companies and Allied Matter Act cap c20LFN 2004.The bank provide Banking services to both serving and Retired Officers and men of Nigeria Police Force, its ancillary institution and general banking public.

The NPF Microfinance Bank is the first Microfinance Bank to be quoted on the Nigerian Stock Exchange and has 28 branches nationwide with presence in all the six geopolitical zones in Nigeria.

The Bank commenced business on the 20th August, 1993 at 1 Ikoyi Road Obalende, Lagos having obtained a provisional license to operate as a community Bank in July 12th 1993 from the Apex Bank.

NPF Microfinance Bank Plc is engaged in the business of microfinance Banking and has emerged as one of the leading microfinance bank in this sub sector. It is a professionally managed and conservative Bank, providing a wide range of banking products and services to consumers at its various locations. Some of the services provided include Retail Banking, Loans and Advances, Money Market Activities and Financial Advisory services (to members of its community and customers).
The Bank, in working to realize the vision for its establishment, has develop special products which includes Police After Service Account (PASA) ,Police Focal Account (POFA) and IGP Premium Bond and their customers are already beginning to bear positive testimonies to their reputation and turnaround time service delivery

  In a recent Interview published in NAIJ.com, an online news platform, Mr Akinwunmi Lawal. The Managing Director of NPF Microfinance Bank. In his words. He said "The NPF Microfinance Bank was founded 25 years ago; we will be celebrating our 25th anniversary in August. The company started as a community bank, precisely in August 1993, and went on to become a microfinance bank in December 2007 when a new Microfinance Bank Policy was formulated mandating all community banks to convert to microfinance banks, under the dispensation of the then Governor of Central Bank of Nigeria, Charles Soludo".

 However, Mr. Akinwunmi lawal said the NPF Microfinance Bank is doing a whole lot to make the lives of our hard working policemen better.

 The Executive Director, Mr. Ohanehi Jude, who spoke about the awesome welfare and social projects being carried out by the bank to better the lives of Nigerians. Life just got better for police officers with this impeccable package.  Mr Ohanehi Jude - Executive Director, NPF Microfinance Bank

NPF Microfinance Bank strives to a great extent to associate itself with the social policies and plans of the community where they do business. "On several occasions, the bank has funded different social projects within its environment. Recently, NPF Microfinance Bank funded the Remita Training in Abuja for the remittance of police officers' salaries, and funded the provision of office furniture for the new police recruits. The bank has also been active in sponsoring inter-house sports competitions of secondary schools around us. NPF Microfinance Bank also funded cervical cancer screening and preventive injections for females in secondary schools found in less privileged neighbourhoods’’.

 Speaking on the digital future of the bank, the MD/CEO. Mr Akinwunmi hinted on the innovative IT plans being worked on by the bank to improve services and ensure best customers service delivery. "The bank is deploying I.T. solutions that will make its services go viral. This will enable customers everywhere, even in remote areas, access our services via mobile banking, agency banking, USSD and a host of other digital financial solutions." He said. On how the bank's team is set up and how they manage to keep the team motivated, Mr Ohanehi who also disclosed that the working environment is kept as conducive as possible and everyone gets treated like family. In his words, "The management has put in tremendous effort in providing a conducive working environment for our employees. It is one of the key reasons our staff turnover is very low. The management ensures the encouragement of staff to further their training while providing opportunities to fund their exams and other professional courses, this is one of the reasons the company has the largest collection of Chartered Microfinance Bankers in the country. "We also give elongated maternity leaves to our female staff while creating a sense of being one big family among all members of our staff. All of this sums up the collective effort of the bank which translates to our financial performance. We are happy and we continue to improve on what we do." Just like every other successful establishment operating in Nigeria, the NPF Microfinance Bank faces certain challenges that it works hard to keep under control and ensure maximum productivity. According to the management of the company, "funding is a general challenge for Microfinance Banks in Nigeria; the issue of bad loans is a recurring challenge we deal with every now and then. Access to technology is another problem microfinance banks face in the country; they don’t come cheap and require a lot of funding. In spite of these challenges, the company finds strategies and solutions to mitigate them and ensure that we stand tall as an organization." When asked about the relationship between the company and the Nigeria Police Force, the management explained that the shareholders of the bank are the Nigeria Police Force and the general public. The Police has a majority shareholding but it is also good to know that the bank is a Public Limited Company. The company has also promised to take things even a step further with the deployment of a new banking application that will enable seamless, fast and efficient provision of microfinance banking services. If you have not already taken advantage of the services being offered by the NPF Microfinance Bank, this should be an opportunity for the general public to start banking business with NPF microfinance bank for better banking services and a generally improved life.