OJOKORO microfinance bank says it is ready to partner small scale business owners, artisans, traders, among others who are active but financially poor in Lagos and other states of the federation.
This, the bank says, is to make the active but financially poor Nigerians have access to financial services, so that they can take care of their financial and social needs.
Mr. Taiwo Peter, head of accounts and operations, Ojokoro MFB while speaking to BusinessWorld recently at the bank’s head office in Ijaye, Lagos stated that the microfinance bank has come to make a difference in the lives of the people in the informal sector who are not given audience by commercial banks.
He stated that the bank has rolled out some empowerment schemes to better the lives of the people in the lower strata of the economy.
Highlighting the products of the bank, he said OMFB Savings Account is a savings product meant for artisans, market men and women, traders, SMEs owners, entrepreneurs among others. The product, he emphasised, is to enable the people embrace saving culture and save for emergency situation that may arise if not now, but in future.
 For an individual aspiring to be a beneficiary, N500 minimum opening balance is what is needed, while this amount can be maintained daily, weekly or monthly, depending on the financial capability of the account holder, he said.
While the account is meant to help the beneficiaries meet their financial obligation, he stated that the products can also serve as collateral to secure loans from the bank.
Speaking on OMFB Agricultural Loans, he hinted that it is a product specifically designed for small and large scale farmers in the country. The bank states the account is to develop the agricultural sector which has been neglected by the stakeholders concerned.  The product, he noted, would develop poultry farming, crop farming, snail rearing, among others, adding that it will also reduce the rate of unemployment in the country, thereby creating jobs.
To be a beneficiary, an individual should be an account holder in the bank, after which he or she must have a good and viable business plan to back it up, he said.