The Chief Operating Officer, CAPITIS, Mr Femi Austin, has said that within a year and six months after the organisation commenced operations, it met all the operating financial requirements demanded by the Central Bank of Nigeria (CBN).
Speaking on Thursday in Abuja during a forum with customers, Mr Femi said the CBN required every micro-finance bank to make at least N100 million profit.
He said CAPITIS, which is not a micro-finance bank, but a cooperative financial outfit, made over n100 million profits within its period of operation.
He said the organisation has plans to start up a micro-finance bank in the nearest future but it will not shut down the cooperative outfit it is running currently.
He said the organisations’ aim was to reach out to people who run petty businesses and help them save money as well as receive loans to expand their businesses.
Austin noted that the organisation started from scratch with Zero members but now has about 2000 thousand members doing business with them within the period they have operated.
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