To make microfinance services accessible to all and sundry, Treasures Microfinance Bank says, it is planning to grow its capital base to N1 billion. This, the bank says, is to make it acquire a state-wide microfinance banking license.

Mr. Yusuf Kunle Hassan who spoke to BusinessWorld said ‘we are planning to make our capital base up to N1 billion, so that we can obtain a state license.’ In order to fulfill this dream, he said, they (Treasures MFB) have talked to some foreign investors who are interested in bringing their money to invest in the bank. He stated that this is to make Treasures MFB expand beyond Lagos State to other states of the country.

We want to make sure that both the rural and urban poor have access to micro credit that will help them in their chosen businesses, thus, making them entrepreneurs of labour, he emphasized. He equally said the state license will enable it go into the interior where the services of microfinance banks are highly needed, saying, this can only be achieved through operating with a state-wide license. 

He stated that the bank still remains committed to the active poor Nigerians by assisting them with moral and financial support that will make them financially independent.

We are financing good business initiatives, especially micro businesses that have the future prospect of developing into a larger one, thus, contributing to the growth and development of the nation’s GDP.

Pledging that the bank is to assist the unbanked people with financial services that will enhance their businesses and promote small and medium scale businesses, he disclosed that  the bank wants to make sure that Nigeria, as a country, becomes a poverty-free nation. 

When it gets the state-wide license, he said, the bank would first of all launch operation in the subordinate states before spreading to other states of the federation.

As at now, what the bank is doing is to go to rural parts of Lagos State, examine their problems and integrate them into a group and extend micro loans to them, he hinted.

He stated that these groups serve as collateral to access loans in the bank.

Hassan emphasized that until all Nigerians are bailed out of the cage of poverty and become employers of labour rather than employees, the bank would not relent in its sensitization crusade to make finance work for the poor.

He stated that within less than a year the bank commenced operation; it has extended N100 million micro loans to over 600 loyal customers.

Adding that the loans have helped them in their small businesses and enhance their economic lives, he said, Treasures Microfinance Bank is determined to impact lives which it has come to demonstrate.