DLM Capital Group, a development investment bank, has received the Central Bank of Nigeria’s (CBN) final approval for its acquisition of Links Microfinance Bank.
According to the bank, the approval will help to solidify the group’s long-awaited digital banking entry and launch.
DLM Capital is now one of the few players in the investment banking space that has expanded into a financial institution offering a variety of services to people from all socioeconomic backgrounds.
Sonnie Ayere, Group CEO/MD of DLM Capital Group, commented on the approval, saying, “We sincerely thank the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) for their consent and final approval, respectively, of our MFB acquisition.”
This will help us to position ourselves as a full-fledged financial services institution, developing and disseminating a variety of financial products and services to millions of underserved Nigerians. We look forward to collaborating with all stakeholders, including the CBN, to increase financial inclusion and meet the ever-changing needs of the average Nigerian.”
Funsho Idowu, MD/CEO of Links MfB, stated that the bank is well-positioned to carve a niche for itself in the market, having recently joined a unique group of digital banks to create loans, investment opportunities, support job creation, and empower MSMEs through unrestricted access to its financial services, as stated in the bank’s mission statement.
“This agreement, in conjunction with our National Deposit Insurance Corporation (NDIC) coverage will show our customers that they can rely on us for their financial needs,” he said.