DLM gets approval on MfBs acquisition

A development investment bank, DLM Capital, has received the final approval of the Central Bank of Nigeria for its acquisition of Links Microfinance Bank.

It said in a statement, that the approval would further solidify the group’s much-awaited digital banking entrance and launch.

The Group Chief Executive Officer/Managing Director, DLM Capital Group, Sonnie Ayere, said, “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.”

The Managing Director/Chief Executive Officer, LINKS MFB, Funsho Idowu, also said the bank was positioned to carve a niche for itself in the market space.

Idowu noted it had joined the unique group of digital banks to create loans, and investment opportunities, support job creation, and empower MSMEs through unhindered access to its financial services, as clearly spelled 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 said.



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