Development Investment Bank, DLM Capital, has received the final approval of the Central Bank of Nigeria (CBN) for its acquisition of Links Microfinance Bank. This approval will further solidify the Group’s much-awaited Digital Banking entrance and launch.
This development transitions the DIB as one of the few players in its industry that has expanded into a financial institution providing different types of services that cuts across different socio-economic classes.
Group CEO/MD, DLM Capital Group, Sonnie B. Ayere remarked that “we sincerely thank the SEC and CBN for consent and final approval respectively of our MFB acquisition. This will help to position us more as a full-fledged financial services institution which will develop and disseminate various financial products and services that will reach millions of Nigerians who are underserved. We are looking forward to working with all stakeholders, including the Central Bank of Nigeria, and to expand financial inclusion to meet the ever-evolving needs of the average Nigerian.”
MD/CEO, LINKS MFB, Funsho Idowu also said the bank is positioned to carve a niche for itself in the market space, having just joined the unique group of digital banks to create loans, investment opportunities, support job creation and empower MSMEs through unhindered access to its financial services, as clearly spelt out in the bank’s mission statement. “This deal, together with our NDIC insurance, will demonstrate to our customers that they can trust us with their financial needs,” he added.
DLM Capital Group comprises of subsidiaries in investment banking, trustees, securities trading, FX, digital banking, asset management, nominees, and corporate lending.