0:00
fer and the immediate past managing
0:02
director of Nigeria's Sly largest and
0:05
major micro Finance Bank by physical
0:07
pres the LIF and poverty organization
0:10
lapa micro Finance Bank Godwin auso has
0:14
returned to the bank as the chairman
0:16
board of directors the Apex
0:18
decisionmaking body of the bank
0:20
apparently to provide fers Visionary
0:22
leadership in the new evolving online
0:24
market and probably contend the problem
0:26
of high and exorbitant interest rates on
0:28
loans currently charged by other micro
0:30
Finance Banks who have a larger presence
0:32
in the online banking platform likely in
0:35
the same way he came into the banking
0:37
sector in 1987 and eased out the
0:39
difficulties of low income earners
0:41
accessing Loan in the country due to the
0:43
demands of high vulnerable collaterals
0:45
as basic requirements for loan
0:46
Administration in Nigeria by the
0:48
nonexisting Banks which also slowed down
0:51
Nigeria development especially among the
0:53
economic active Rural and semi
0:56
obas although lapo mfb online plat
1:00
currently has a little bit more than
1:02
50,000 users on Google Play Store but
1:05
the bank has been consistent with
1:07
interest rate of 3.5 3% flat rate per
1:10
month or less on his various loan
1:12
products for more than 8 years despite
1:14
new government policies and economic
1:16
challenges that have forced many banks
1:18
including Central Bank of Nigeria CBN to
1:21
scale up lending rates in numbers of
1:25
2017 while as the managing director of
1:28
the bank Godwin yamu sought the board
1:31
approval and changed the interest rate
1:33
from 2.2% flat rate per month to 5%
1:36
reducing balance per month in response
1:38
to the economic policies of the dun
1:40
president muhammadu bohari and later
1:42
reversed the interest rates on loans to
1:44
between 2.5 and 3% flat rate per month
1:48
apparently when he saw that the reducing
1:50
balance interest on loan capitalization
1:52
method was not favorable to larger
1:54
Nigeria banking customers laa mfb has
1:58
remained one of the banks in Nigeria
2:01
that charged the lowest interest rates
2:03
on loans even after Godwin aamu left
2:06
office as the bank managing director in
2:09
2019 other micro Finance Banks like Cuda
2:13
family online platforms have more than
2:15
10 million users each on Google Play
2:17
Store but the Nigeria business
2:19
communities are currently facing Untold
2:21
hardship of high and exorbitant interest
2:23
rates on loans that ranges between 9 to
2:26
18% reducing balance per month in the
2:29
online Market Market lapa microf Finance
2:32
Bank in a statement on Monday said Dr
2:34
Godwin a Gamu has been appointed as the
2:37
new the chairman of the board of
2:40
banko succeeds otin de who the bank said
2:44
in a statement made available to media
2:47
on Monday that she provided excellent
2:49
leadership for the institution
2:51
particularly in consolidating the micr
2:53
finance bank's leadership position in
2:55
the soft financial sector adding that
2:58
Godwin a Gamu brings into the position
3:01
his Rich experience and institutional
3:03
memory that will be of immense benefits
3:05
to lapo micro Finance bank and National
3:08
Financial inclusion efforts Dr AI Gamu
3:12
is an acknowledged micr Finance
3:14
practitioner who for over three decades
3:17
pioneered several initiatives that have
3:19
contributed to the expansion of the
3:21
frontiers of Finance in Nigeria and
3:24
Beyond in the late 1980s he initiated
3:27
the lift above poverty organiz ation
3:30
lapo as a non-governmental response to
3:33
the spike in poverty as a result of the
3:35
implementation of the structural
3:37
adjustment program s lapa has evolved
3:40
into a number of mutually reinforcing
3:43
institutions in micro Finance Health
3:45
Care insurance Micron Technology and
3:50
agriculture he earned a doctorate degree
3:53
in policy and development studies with
3:55
emphasis on policy instruments and
3:57
financial inclusion he is a chartered
4:01
micr Finance banker and fellow chartered
4:04
Institute of Bankers of Nigeria Dr AI
4:08
Gamu says his appointment as an
4:10
opportunity to build on the achievements
4:12
of Lao micr Finance bank and contribute
4:15
to deepening Financial inclusion
4:17
according to the bank
4:21
statement bring needs in a more Digital
