August 18, 2022

Reporters’ Diary

Factual Reportage

LAPO MfB wins ACGSF ‘Most Supportive Bank’ award

LAPO Microfinance Bank has won the 2020 “Most Supportive Bank” to farmers’ award under Central Bank of Nigeria (CBN) Agricultural Credit Guarantee Scheme Funds (ACGSF).

Mr Oluremi Akande, LAPO MfB Head of Communications and Branding, made the disclosure in a statement made available to newsmen in Lagos on Monday.

Akande said that to achieve sustainable economic growth requires, amongst other things, a healthy and productive manpower, hence the firm’s partnership with ACGSF.

“Our partnership with the ACGSF is strategically aimed at empowerment of farmers, food sufficiency, healthier and productive citizens leading to economic growth and prosperity,” he said

Akande explained that in the ACGSF Farmers Award 2020, State Category, LAPO MfB supported 46 winners and runner ups out of the total number of 86 awardees, representing 53 per cent of the entire award recipients in the country.

He said the microfinance bank planned to disburse over N12 billion in 2021 to empower more farmers and to contribute to national economic growth.

According to him, LAPO is committed to its over 30 year’s mandate of social and economic empowerment of members of low-income households, farmers and owners of micro small and medium enterprises in Nigeria.

In 2012 , LAPO Microfinance bank joined the ACGSF to provide credit support to farmers across the country in a sustainable manner.

From January 2012 to December 2020, the bank has disbursed over N27 billion with presence in 34 states including the FCT, Abuja, reaching over 34,000 farmers and agro-allied operators across Nigeria.