Welcome: Obosi Microfinance Bank

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Over the years Obosi Microfinance Bank has been able to achieve momentous growth and pride of place in the Nigeria Banking industry through efficient service delivery, high ethical standards and professionalism. Obosi Microfinance Bank is the creation of the Ofu-Onu Age Grade, Obosi.

The Bank started with a share capital of N250, 000.00 in 1992 and grown to fully paid capital of N34,846,337.00 in 2013. Following the CBN directive that December 31, 2017 was the deadline for all existing Community Banks to re-capitalize to a minimum of N20,000,000.00 shareholders fund, unimpaired by losses and consequently convert to Microfinance Bank ("MFB"), Obosi Community Bank limited obtained a final license from the CBN on 19th October, 2007 to begin Microfinance Banking Operations as a Unit Bank, Obosi Community Bank Limited was subsequently converted to Obosi Microfinance Bank and was registered on 1st of February, 2008.

The Bank has contributed largely to the improvement of socio economic stardard of Obosi residents and indigenes.

The Mission of Obosi Microfinance Bank is to be Well Capitalised Institution, Supporting Members of the Community and Ensuring the Growth of Business and Individual

The Vision of Obosi Microfincne Bank is to be a Strong Viable and Profitable Financial Institution.

Obosi Microfinance Bank as a Microfinance institution carries out the following key activities on behalf of its customers as set out in the Bank’s memorandum and article of association and approved by the 2011 CBN revised MFB policy.

  • Acceptance of various types of deposit including savings, time and demand deposit from individual, groups and association; except public sector deposit
  • Provision of credit to its customers, including formal and informal self help groups individuals and association;
  • Promotion and monitoring of loan usage among its customers by providing ancillary capacity building in areas such as record keeping and small business management;
  • Collection of money or proceed of banking instruments on behalf of its customers including clearing of cheque through correspondents Banks.
  • Provision of ancillary banking service to its customers such as demotic remittance of fund and safe custoday
  • Maintenance and operation of various types of account with other Banks in Nigeria
  • Pay and receive interests as may be agree upon MFB and its clients in accordance with existing guidelines
  • Provision of professional advice to low income persons regarding investment in small businesses
  • Rendering managerial, marketing, technical and administrative advice to customers and assisting them in obtaining services in such fields
  • Investment in share or equity of body corporation, the objective of which is to provide ,microfianceservices to low person;