Infinity Microfinance Bank disburses N195m loans

The Managing Director of Infinity Microfinance Bank, Mrs. Clara Oloniniyi, said the bank disbursed about N195m loans to 21,741 customers in the last two years.Oloniniyi disclosed this in an interview with the News Agency of Nigeria in Lagos on Tuesday as part of activities marking the banks 10th anniversary.NAN reports that Infinity Microfinance Bank started operation as an esusu outfit on Nov. 1, 2001, but received its microfinance banking licence in October, 2007.She said that out of the amount, N118,079m was disbursed in 2010 while N76.918m was given out in 2011.The beneficiaries consist of 10,653 men and 11,088 women, she said.Oloniniyi said that the banks strong business policy was responsible for its survival in spite of challenges facing the sector.We ensure that right people manned the key positions without compromise.Although there have been challenges of infidelity and that of finding and grooming new people to cope with our plan.But we ensure that all avenues that such infidelities occurred were sealed to prevent collaboration by people that may have plans to steal the banks money.We also introduced new method of disbursing our loans and ensure that our internal control teams do not relent in checking the loans, she said.She said that the bank would ever remain true to the mission of economically empowering micro entrepreneurs and low income earners in the country.Oloniniyi advised government at all levels to educate Nigerians on microfinance banking as operators could not do this alone.
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