Home Business Accion Microfinance Bank targets grassroots

Accion Microfinance Bank targets grassroots


Lagos – Accion Microfinance Bank Ltd. has embarked on an aggressive expansion scheme to take its services to more grassroots communities in the country.
The Managing Director of the bank, Mrs Olubunmi Lawson, told the News Agency of Nigeria (NAN) on Monday in Lagos that the expansion was part of the corporate plans mapped out by the company during its annual general meeting last year.
She said the bank would flag off the expansion programme with the opening of two new branches in Ogun this month.
Lawson said the branches would be opened at Sango Ota and Akute to enable residents of the communities to enjoy the services offered by the firm.
According to her, the company has inaugurated 31 branches in Lagos State, while more branches will be opened in eight states before the end of the year.
Lawson said the bank’s target was to empower over 500 poor but active people, using the branch network, to support the Federal Government’s poverty alleviation drive.
“The bank plans to bring all the adults financially excluded in Sango Ota and Akute into the banking system.”
She said the bank would also extend financial aid to small and medium enterprises within the new areas.
“The bank is to offer a variety of financial services and products, ranging from savings, current, fixed deposit accounts and micro loans.
“It’s our hope that the branches will deliver a brighter future to its teeming and growing clients,” she said.
According to an official record made available to NAN, the bank has disbursed about N57 billion as loans to 227,000 people since it was licensed by the CBN in 2007.

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