CBN Approves DLM Capital’s Links Microfinance Bank

The Central Bank of Nigeria (CBN) has approved DLM Capital Group’s acquisition of Links Microfinance Bank.

DLM Capital Group comprises of subsidiaries in investment banking, trustees, securities trading, FX, digital banking, asset management, nominees, and corporate lending.

This approval is to solidify the group’s much-awaited Digital Banking entrance and launch.

The development transitions the DIB as one of the few players in its industry that has expanded into a financial institution providing different types of services that cuts across different socio-economic classes.

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The Group CEO/MD, DLM Capital Group, Sonnie Ayere says “we sincerely thank the Securities and Exchange Commission (SEC) and CBN for consent and final approval respectively of our MFB acquisition.

“This will help to position us more as a full-fledged financial services institution which will develop and disseminate various financial products and services that will reach millions of Nigerians who are underserved.

“We are looking forward to working with all stakeholders, including the Central Bank of Nigeria, and to expand financial inclusion to meet the ever-evolving needs of the average Nigerian.”

Funsho Idowu, MD/CEO, Links MFB, added that 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 NDIC insurance, will demonstrate to our customers that they can trust us with their financial needs,” he says.