DLM Capital Group, a development investment bank, has received the final approval of the Central Bank of Nigeria (CBN) for its acquisition of Links Microfinance Bank.
The approval, according to the bank, will further solidify the group’s much-awaited digital banking entrance and launch.
This development transitions DLM Capital as one of the few players in the investment banking space that has expanded into a financial institution providing different types of services that cut across different socio-economic classes.
Group CEO/MD, DLM Capital Group, Sonnie Ayere, commenting on the approval, said: “We sincerely thank the Securities and Exchange Commission (SEC) and CBN for the consent and final approval respectively of our MFB acquisition.
This will help to position us more as a full-fledged financial services institution that will develop and disseminate various financial products and services that will reach millions of Nigerians who are under-served. We are looking forward to working with all stakeholders, including the CBN, and to expand financial inclusion to meet the ever-evolving needs of the average Nigerian.”
MD/CEO, Links MfB, Funsho Idowu, said the bank is positioned to carve a niche for itself in the market space, having just joined the unique group of digital banks to create loans, investment opportunities, support job creation, and empower MSMEs through unhindered access to its financial services, as clearly spelt out in the bank’s mission statement.
“This deal, together with our National Deposit Insurance Corporation (NDIC) cover, will demonstrate to our customers that they can trust us with their financial needs,” he said.