CBN Grants Gabsyn Microfinance Bank License To Commence Operations

Gabysyn Microfinance Bank has announced its approval by the Central Bank of Nigeria (CBN) to operate as a Microfinance Bank in Ikorodu, Lagos.

Gabsyn MFB announces the receipt of a letter from the CBN conveying the final approval to commence operations,  Waheed Odekale, the Bank’s Managing Director, said recently.

The receipt of the letter from the CBN conveying the final approval to commence operations was announced by Waheed Odakale, the Bank’s Managing Director, 

“With this approval, Gabsyn MFB joins over 876 licensed Microfinance banks to operate in that space, to deliver the much-needed financial services to the unbanked.

"According to EFInA (2020 survey), about 35.9 per cent of the adult population, representing 38 million citizens, do not have access to financial services in Nigeria.

“As a partner in the actualization of the objectives of the National Financial Inclusion Strategy (NFIS), Gabsyn MFB affirms its commitment towards creating a better everyday life for all stakeholders in line with the financial inclusion agenda of the CBN and the Federal Republic of Nigeria, and we are excited at this opportunity to support its fulfilment.”