DLM Capital, a development investment bank, has received the final approval of the Central Bank of Nigeria for its acquisition of Links Microfinance Bank.
It said in a statement that the approval would further solidify the group’s much awaited digital banking entrance and launch.
The development transitions the DIB as one of the few players that have expanded into a financial institution, providing different types of services that cut across different socio-economic classes, the statement said.
The Group Chief Executive Officer/Managing Director, DLM Capital Group, Sonnie Ayere, said, “We sincerely thank the 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.”
The Managing Director/Chief Executive Officer, LINKS MFB, Funsho Idowu, also said the bank was positioned to carve a niche for itself in the market space.
Idowu noted it had 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 said.
The statement said DLM Capital Group comprises subsidiaries in investment banking, trustees, securities trading, FX, digital banking, asset management, nominees, and corporate lending.