About CMFB

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OUR HISTORY

Covenant Microfinance Bank

Incorporated as a private limited liability company on May 6, 2003 and commenced operations on March 15, 2004 as Covenant University Community Bank Limited (CUCB LTD). Converted to a Microfinance Bank in line with Central Bank of Nigeria’s directive to all Community Banks and commenced business as such on January 11, 2008. Granted license to operate as a State Microfinance Bank in December, 2012 having met the prescribed N100 million minimum capital requirement. In 2014, became one of the first Microfinance Banks to generate the 10-digit Nigeria Uniform Bank Account Number (NUBAN) for all its customers after successfully signing up for integration to NCS.

2003

Incorporated as a Private Limited Liability Company

2004

Commenced Operations as Covenant University Community Bank Limited (CUCB LTD)

2008

Converted to a Microfinance Bank based on Central Bank of Nigeria’s directive to all Community Banks

2012

Covenant Microfinance Bank was granted license to operate as a State Microfinance Bank with the prescribed N100 million minimum capital requirement

2014

Became one of the first Microfinance Banks to generate the 10-digit Nigeria Uniform Bank Account Number (NUBAN) for all its customers after successful sign up to the Nigeria Central Switch (NCS) network. By implication the bank was also signed up to NIBSS Instatnt Pay (NIP) service thereby ensuring customers can perform inter-bank transfers with ease. The bank also secured connection to the InterSwitch Network for ATM service, PayDirect and QuickTeller Solutions.

Our Vision

To be the leading Microfinance Bank in the business of transforming ordinary individuals and micro-enterprises into wealth creators.
Our Mission
- To meet the developmental needs of the community
- To intellectually promote creativity
- To serve as an instrument of wealth creation.