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Maritime Microfinance Bank to commence operation Dec. 1

approval granted it by the Central Bank of Nigeria (CBN), a new financial
institution, the Maritime Microfinance Bank will formally commence operation on
Monday Dec. 1 2014.
The Maritime MFB
is the first financial institution fully dedicated to servicing the maritime
industry in Nigeria.

A Director and
promoter of the new bank, Mr Bolaji Akinola said the Maritime Microfinance Bank
has been set up to fill a yawning gap within the financial services industry by
offering small loans, or micro-loans, to maritime industry operators and
workers who are unable to access conventional loan services.
“This is the
starting point for us. We are embarking on a revolution in the provision of
financial solutions for the maritime industry. We are starting as a unit
micro-finance bank but our vision is to evolve into a full fledged commercial
bank fully dedicated to the growth and development of the maritime industry.
“The birth of
the Maritime MFB is a culmination of several years of research and team work
between several well-meaning people who are passionate about growing the
maritime industry,” he said.
He said the
Maritime Microfiance Bank will use small and microloans to develop small businesses
based on their existing talents and skill sets.
freight forwarders, truckers, port workers, staff of private companies and
government organisations who mostly have challenges accessing small loans can
now heave a sigh of relief as the bank for them has finally come.
“Access to
finance is an invaluable element that brings growth and development to any
sector of the economy. It also helps in realizing full economic capabilities of
the people.
“As part of the
agenda for full development of the maritime sector, access to finance has been
identified by the stakeholders in the industry as one of the key elements that
needs to be considered,” Akinola, who is also the CEO of Ships & Ports
Communication Company stated.
He said the
Maritime Microfinance Bank will build exceptional value for its clients by
demonstrating incomparable care for their needs and increasing their financial
wealth by providing tailored solutions to meet their financial needs and
protecting their assets.
“We are
deploying the latest banking technology and have developed very exceptional
financial solutions that will help our clients grow.
“These are in
addition to the regular banking products which include Savings Account, Current
Account, Salary Account and Cooperative Account among others,” he said.
He said micro,
small and medium enterprises in the maritime industry can now easily access
loan facilities to grow their businesses through the Maritime MFB.



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