The Central Bank of Nigeria (CBN) has grant DLM Capital, a Development Investment Bank, final approval to acquire Links Microfinance Bank.
The Group Chief Executive Officer, DLM Capital Group, Mr Sonnie Ayere disclosed this in a statement on Saturday.
Ayere said the approval would further solidify the group’s much awaited digital banking entrance and launch.
He said the approval would transition the investment bank as one of the players in the industry that had expanded into a financial institution providing different types of services.
Ayere said the approval would also help to position the bank as a full-fledged financial services institution that would develop and disseminate various financial products and services.
“We are looking forward to working with all stakeholders, including the CBN to expand financial inclusion to meet the ever-evolving needs of the average Nigerian.
“We sincerely thank the Securities and Exchange Commission and the CBN for their consent and final approval respectively of our MFB acquisition,” he said.
Sonnie also quoted the Managing Director of Links MFB, Mr Funsho Idowu, as saying that the bank would carve a niche for itself in the market space having joined the group of digital banks to create loans and investment opportunities.
He said the bank would also support job creation and empower Micro Small and Medium Enterprises (MSMEs) through unhindered access to its financial services.
“This deal, together with our NDIC insurance, will demonstrate to our customers that they can trust us with their financial needs,” he said.
DLM Capital Group comprises of subsidiaries in investment banking, trustees, securities trading, foreign exchange, digital banking, asset management, nominees, and corporate lending.
DLM Capital Group is a Development Investment Bank that provides innovative solutions to economic and social developmental challenges.
