About CMFB

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OUR HISTORY

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.

Incorporated as a Private Limited Liability Company

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

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

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

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.
A – Accountability 100%
S – Spirituality 100%
T – Transparency 100%
R – Responsibility 100%
I – Integrity 100%
D – Diligence 100%

It’s more than just a Bank

We are Transforming Ordinary Individuals into Creators of Wealth

Meet The Board

Professor Evans Osabuohien

Professor Evans Osabuohien

He is endowed with a pleasant personality and capability to work effectively in multi-cultural environments.

Professor Chinonye Love Moses

Professor Chinonye Love Moses

Professor Chinonye Love Moses graduated from the University of Jos in 1991 with a B.Sc Degree in Accounting (Second Class Upper Division), She attended University of Lagos and Covenant University, Ota

Meet Our Management

Mrs Odunola Owolabi

Mrs Odunola Owolabi

MD/CEO

Mrs Odunola Owolabi is the Managing Director/CEO of Covenant Microfinance Bank Ltd. She is a seasoned banker with a wealth of experiences

Mr. Olawale Oyerinde

Mr. Olawale Oyerinde

Head, Credit, Marketing and Recovery

Mr. Olawale Oyerinde is the Head of Credit, Marketing and Recovery of Covenant Microfinance Bank Ltd

Mr. Peter Atolagbe

Mr. Peter Atolagbe

Head, Operation and Treasury/Investmen

Mr. Peter Atolagbe is the Head of Operations and Treasury/Investment at Covenant Microfinance Bank Limited

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