BY CHINYERE OBIORA, LAGOS – The Central Bank of Nigeria (CBN) has granted a development investment bank, DLM Capital Group, the final approval to acquire Links Microfinance Bank (LMfB).
According to the apex bank, the approval is meant to further solidify the Group’s much awaited digital banking entrance and launch.
With this development, DLM Capital is set to become one of the few players in the investment banking space that has expanded into a financial institution in terms of providing various services cutting across different socio-economic classes.
Applauding the approval, the Group Chief Executive Officer/Managing Director, DLM Capital Group, Sonnie Ayere, said: “We sincerely thank the Securities and Exchange Commission (SEC) and CBN for the consent and final approval respectively of our MFB acquisition.
“This will help to position us more as a full-fledged financial services institution which will develop and disseminate various financial products and services that will reach millions of Nigerians who are under-served.
Additionally, Ayere said; “We are looking forward to working with all stakeholders, including the CBN, and to expand financial inclusion to meet the ever-evolving needs of the average Nigerian.”
In his remarks, the Managing Director and Chief Executive Officer of Links MfB, Funsho Idowu, said the bank is positioned to carve a niche for itself in the market space, having just joined the unique group of digital banks to create loans, investment opportunities, support job creation and empower MSMEs through unhindered access to its financial services, as clearly spelt out in the bank’s mission statement.
For him; “This deal, together with our National Deposit Insurance Corporation (NDIC) cover, will demonstrate to our customers that they can trust us with their financial needs.”
