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In order to effectively administer the Micro Finance Fund for the growth of entrepreneurial activities and alleviation of poverty in the State, the Lagos State Micro Finance Institution (LASMI), as empowered by the State Government, is partnering initially with five (5) Micro Finance Banks (addressed as Agency Banks) distributed across the three (3) Senatorial Districts to facilitate its disbursement of financial assistance to prospective and eligible beneficiaries.
Three new Microfinace Banks were recently selected to also partner with LASMI making the total number of partners eight. The new banks have been added to the list below.
This partnership, effected through a Memorandum Of Understanding, includes the following Micro Finance Banks. |
| Agency Banks |
Banks' Name, Registered Address, E-mail & URL |
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Intergrated Micro-Finace Bank
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64, Adeniyi Jones Avenue, Ikeja, Lagos.
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- LASU Micro-Finance Bank
- LASU Campus, Lagos/Badagry Express Road, Ojo, Lagos.
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| *** |
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Ojokoro Micro-Finance Bank
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558, Lagos/Abeokuta Expressway, Ijaiye, Ojokoro, Lagos.
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- www.ojokoromfb.com
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| *** |
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Infinity Micro-Finance Bank
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580, Ikoroku Road, Kosofe, Mile 12, Lagos.
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1, Kudirat Abiola Way, Ikeja, Lagos.
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Townserve Micro-Finance
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26, Gbasemo Street, Aga, Ikorodu, Lagos.
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In terms of services to be rendered according to the Memorandum Of Understanding,
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The Agency Banks will design and promote microfinance related programmes to provide financing, training and other related services aimed at the economically disadvantaged.
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The programmes will ensure the provision of loans, deposits and micro insurance services to qualified beneficiaries of the Lagos State Ministry of Women Affairs and Poverty Alleviation’s vocational and skill acquisition training programmes and others, thereby resulting in financial empowerment of beneficiaries.
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The Agency Banks will work together with the Institution (LASMI) to successfully implement the micro-credit programmes which will be targeted at mainly the poor and unbanked within each of the three (3) Senatorial Districts of Lagos State.
***More Micro Finance Banks are currently being considered for partnership after they have signified their intention. Their names will be published along with others immediately considerations have been finalized and formalized. |
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