The managing director of First Royal Micro Finance Bank has disclosed that they have fulfilled all requirements by the Central Bank of Nigeria (CBN) to become the first national microfinance bank.
Dr Emmanuel Esezobor, who spoke to journalists in his office in Calabar, maintained that the bank now has even bigger capacity to handle larger applications for loans.
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He said: “We encourage those that meet the requirements as set out by the Central Bank of Nigeria to come and access our loans. Within two days at most they have collected their credits.
“These are some of the many reasons they keep coming back to us, which reasons contribute to being adjudged the best customer friendly bank in Africa.
“We are now at the verge of attaining the status of a national microfinance bank.
“We have met requirements to become a state microfinance bank. We will soon spread our branches throughout the 18 LGAs of Cross River State.
“We are at the verge of raising the recapitalisation fund and will be looking at going national 30 years after being in business in the state.”
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