About Us

Learn the Vision, Mission, and the team behind our success.

Our Vision

To be a dominant provider of affordable and efficient financial services that improves lives and meet the needs of all stakeholders.

Our Mission

To empower individuals and micro, small, and medium enterprises (MSMEs) which engender economic growth and development through the provision of savings, credits, and other financial services that are designed to meet the needs of clients in an innovative and sustainable manner.

Core Values

Trust, Integrity, Innovation, Excellence, and Teamwork

Corporate Profile

Year Founded 2002
CBN License Microfinance Bank
License Number 7173852

Our History

Foundation and Regulatory Transition (2002–2008)

The origin of the bank dates back to January 2002 with the incorporation of Okada Community Bank Limited under Corporate Affairs Commission (CAC) registration number RC 295649. Following the federal government’s introduction of the landmark Microfinance Policy in December 2005, the institution transitioned to align with the new regulatory framework. This strategic transition achieved several key regulatory milestones:

September 10, 2007: The Central Bank of Nigeria (CBN) granted provisional approval (Ref: OFID/GATB/MFB/07/010) to operate as a unit microfinance bank under the name Okada Microfinance Bank Limited.
December 10, 2007: The bank secured regulatory clearance from the CBN (Ref: OFID/CB/GATB/07/0245) to officially change its name to ABC Microfinance Bank Limited to better reflect its strategic positioning.
August 11, 2008: The institution achieved a critical operational milestone, receiving its final, definitive license to engage in microfinance banking operations via CBN letter Ref: OFID/GBA/MFB/07/028.

Strategic Acquisition and Recapitalization (2023–Present)

A new chapter of strategic growth and structural transformation began on August 3, 2023. An investor consortium led by Chief Gabriel Osawaru Igbinedion formally applied to the CBN for a Tier-2 Microfinance Bank license under the revived name of Okada Microfinance Bank Limited. Simultaneously, the consortium expressed a formal intent to the Nigeria Deposit Insurance Corporation (NDIC) to execute a strategic asset-and-liability acquisition of the defunct ABC Microfinance Bank Limited.

Following a successful acquisition process and rigorous regulatory review, the Central Bank of Nigeria issued its final statutory approval for the commencement of business. This definitive authorization was communicated via CBN official correspondence Ref: FPR/LAD/CON/MFB/010/074, dated May 23, 2024. Today, Okada Microfinance Bank Limited stands as a fully capitalized microfinance bank. The bank is dedicated to driving financial inclusion, powering entrepreneurship, and contributing to the economic growth and development of Nigeria. The banks provide such financial services as savings, loans and overdrafts, payment systems, insurance, safe custody of valuables, and financial education and advisory services, amongst others.