The Central Bank of Nigeria (CBN) has granted GABSYN MICROFINANCE BANK the final approval to operate as a Microfinance Bank in Ikorodu, Lagos State.
Gabsyn MFB announces the receipt of a letter from the CBN conveying the final approval to commence operations, Mr. Waheed Odekale,the Bank’s Managing Director, said recently.
With this approval, Gabsyn MFB joins over 876 licensed Microfinance banks to operate in that space, to deliver the much needed financial services to the unbanked. According to EFInA (2020 survey), about 35.9 percent of the adult population, representing 38 million citizens, do not have access to financial services in Nigeria.
As a partner in the actualization of the objectives of the National Financial Inclusion Strategy (NFIS), Gabsyn MFB affirms its commitment towards creating a better everyday life for all stakeholders in line with the financial inclusion agenda of the CBN and the Federal Republic of Nigeria, and we are excited at this opportunity to support its fulfilment.
The Bank is well positioned in a strategic location in Ikorodu where it can use its well-trained, motivated, young and dynamic staff as well as its experienced management team to design and offer flexible, value-adding and sustainable financial services to the communities. There are millions of Nigerians who are yet to tap into the immense benefits available in the financial sector because they are currently excluded.
Gabsyn MFB will open a viable avenue for all to access a broad range of financial and social services such as loans, savings, alternate payment services, money transfers, improve financial literacy, etc, some directly and others through strategic partnerships.
According to the Managing Director of Gabsyn MFB, Mr. Waheed Odekale, ‘’Our mission is to use simple financial solutions, strategic alliances and partnerships to improve the socio economic status of our stakeholders. Our services will empower low-income households, enhance their productive capacity and consolidate their economic base. We are very excited by the opportunity to be practically and productively driving the financial inclusion agenda of the Central bank of Nigeria’’.
While leveraging on the use of technology to improve customers’ experience on the one hand, we will be going the extra mile with the introduction of Saturday Banking Services.
For Gabsyn Microfinance Bank, it is beyond providing financial services, but making sure that our customers’ expectations are surpassed.
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