LAPO Microfinance Bank vows to support more than 5million SMEs by 2019


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If government’s policies in Nigeria are failing due to what experts have called ‘policy somersault’, there are financial institutions ready to take up financing SMEs as a serious matter.

The founder of LAPO, Mr Godwin Ehigiamusoe, recently said that the organisation, which had been in existence since 1987, had employed 7661 Nigerians and is even ready to do more.

“Between January and August, LAPO Microfinance Bank alone has disbursed N89.6 billion as loans through 447 branches in 29 states and the Federal Capital Territory (FCT).

“Collectively, the LAPO institutions in LAPO system disbursed over N96 billion to SMEs during the period.

“We currently have more than three million clients and targets over five million clients by 2019.