LAPO Microfinance Bank

Website Lapo
Location Nigeria
Key figures Impact story


LAPO Microfinance Bank’s (LAPO MFB) aspirations are reflected in their Vision and Mission statement, which is simply ‘Improving Lives’. This is delivered through strong core values of integrity, innovativeness, customer-centeredness, simplicity and excellence. The bank’s sustainability statement goal is to ‘be a sustainable microfinance institution that supports its partners to become proactive participants in positively impacting the environment and society through sustainable practices, meeting the economic and social needs of clients while fulfilling the expectations of stakeholders’.

LAPO MFB believes that any improvement in the socio economic situation of the poor would initially take place with available financial services; and with the added support of physical labor and skills. Thus, the bank’s major concern is using finance to deliver sustainable economic, social and environmental development, with a focus on helping to eradicate poverty in society, as well as supporting individuals to fulfill their potentials.

To guarantee that LAPO MFB remains true to their cause, the bank has a Client Protection Principle to stay on track with their mission, vision and values as they grow and change. The policy articulates the principles that guide the bank, and their commitments as a credit-led organisation. The bank’s values and social, economic and environmental concerns are incorporated into decision-making.


LAPO Microfinance Bank is an off-shoot of Lift Above Poverty Organisation (LAPO), which was initiated in the late 1980s as a pro-poor development institution committed to the empowerment of low income Nigerians through the provision of responsive financial services delivered on a sustainable basis.

In 2010, LAPO MFB obtained approval from the Central Bank of Nigeria (CBN) to operate a regulated microfinance bank and was licensed as a national microfinance bank in 2012 to undertake microfinance banking activities in Nigeria.

With an asset base of over 48 Billion Naira and shareholder funds in excess of 9 Billion Naira, the bank has demonstrated speedy growth from inception and has quickly evolved into the leading provider of financial services to over 2 million micro, small and medium enterprises clients in Nigeria. The bank has over 5800 employees and 386 branches across Nigeria.


LAPO MFB is a limited liability company. The bank is divided into eight zonal offices, 31 area offices efficiently managed by the Zonal Managers who report to the Head Office. LAPO MFB is governed through the Board of Directors and the Management team.

Board of Directors

  • Dr. Osarenren Emokpae, Chair
  • Dr. Godwin Ehigiamusoe, Chief Executive Officer
  • Osaretin Demuren, Chair -ESG Board Committee
  • Osayande Ede, Chair, Finance/General Purpose Board Committee
  • Rene Azokly, Chair, Credit &Risk Management Board Committee
  • Andrew Ejoh, Audit Chair, Board Committee
  • Faith Osazuwa – Ojo, Executive Director, Risk Management
  • Nwachukwu Josephine, Executive Director, Corporate Planning &Strategy

Market Focus, Products and Services

LAPO Microfinance Bank provides a range of unique financial and social empowerment services to low income households, micro and small businesses. The product range includes:

  • Enterprise loans
  • Clean energy loans
  • Housing loans
  • Deposits
  • Asset loans
  • Agric loans
  • Education loans

The bank’s Social Impact Deposit (SID) product allows socially responsible individuals deposit funds with the bank based on the understanding that the funds will be disbursed to the economically active poor. Depositors earn interest and also positively impact society.

The bank’s Clean Energy loan products are carefully designed to provide clients with a soft loan scheme to encourage switching to alternative sources of energy, for example, solar power lanterns and cooking gas alternatives that positively impact the environment.

LAPO MFB’s engagement in microfinance is much more than business as usual. It is about the development of people, particularly women. After several years of supporting the businesses of poor women, the bank’s aim is to continuously provide women with the capacity to actively participate in the economy and ensure inclusion. The bank’s desire is to reach the underbanked; this informs their wide network reach of 384 branches in rural communities. Part of LAPO’s goals is to include a larger proportion of women into their financial scope; this is because women form a greater percentage of the financially excluded, and this is why 92% of the client base is women.


Key figures for LAPO Microfinance Bank

* Figures in USD million
** Based on local currency
Total Assets189207266219173
Funds Under ManagementNANANANANA
Total Assets and Funds Under Management189207266219173
Total Assets and FUM Growth (One Year, Local Currency)7.38%19.70%32.23%43.70%33.86%
Loans (net)144165218181145
Loans to Total Assets76.3%79.5%82.0%82.6%83.4%
Loan Growth (One Year, Local Currency)3.13%16.07%31.23%42.23%37.46%
Client Funding809113111287
Client Funding to Total Assets42.5%44.1%49.1%51.4%50.2%
Client Funding Growth (One Year, Local Currency)3.54%7.65%26.26%46.97%41.46%
Equity to Total Assets24.0%21.7%19.6%20.0%20.6%
Tier 1 Capital Ratio28.3%24.7%21.2%24.6%21.5%
Total Revenue82.694.289.191.761.6
Net Income11.817.816.817.211.1
Return on Assets6.01%7.90%7.15%8.36%7.24%
Return on Equity26.28%38.10%36.23%41.29%36.43%
Cost to Income Ratio73.0%68.0%73.2%63.8%70.3%
Clients (sum of lending and deposit)3,331,4412,631,9772,073,8791,414,9641,038,340