Light Microfinance Bank Supports 44,337 Micro-Enterprises in Three Years

Light Microfinance Bank (LMFB) has supported 44,337 micro-enterprises through its lending and financial inclusion initiatives between 2023 and 2025, as the bank continues to expand access to financial services across Plateau State.

The Managing Director and Chief Executive Officer of the bank, Mr. Alexander Tampi, disclosed this during its 6th Annual General Meeting (AGM), held at the headquarters of the Church of Christ in Nations (COCIN) on Wednesday.

Presenting the bank’s performance report, Tampi said the institution had also recorded significant growth in its gross earnings, which rose from ₦238.49 million in 2019 to ₦750.79 million in 2025, representing a compound annual growth rate of approximately 21.1 per cent.

He added that the bank was investing in staff development and professionalism, noting that 21 employees obtained the Certified Microfinance Banker qualification during the period under review.

The Chairman of the Board of Directors, Mr. Stephen Jalva Bathanna, said the AGM was significant because shareholders were considering the bank’s audited financial statements for seven financial years, covering 2019 to 2025.

Bathanna acknowledged that the delay in presenting the accounts was a departure from best corporate governance practices. He attributed the delay to factors including the COVID-19 pandemic, internal restructuring, efforts to meet the Central Bank of Nigeria’s revised minimum capital requirements and the appointment of new auditors to strengthen financial reporting.

He disclosed that the bank currently operates in 11 local government areas of Plateau State through three branches and eight Customer Service Points. He also announced that work had commenced on a Customer Meeting Point at Karl Kumm University, Vom.

In his exhortation, the President of COCIN, Rev. Dr. Amos Mohzo, urged the board, management and staff to remain committed to the bank’s vision, stressing that sustainable institutions are built through perseverance, discipline and collective effort.

He read from the Bible, particularly 1 Corinthians 15:58, Mohzo encouraged the bank’s leadership not to be discouraged by challenges or become complacent because of the progress already achieved.

He also reminded stakeholders of the importance of appreciating small beginnings, citing Zechariah 4:10. He said the bank’s growth should inspire greater determination to build an institution that would remain sustainable, credible and relevant in the years ahead.

The COCIN President further urged the board and management to uphold transparency, accountability, professionalism and operational efficiency, noting that the bank’s success should be measured not only by its financial performance but also by its impact on the people it serves.

Citing Proverbs 3:6, Mohzo called on the bank’s leadership to commit its plans and decisions to God while maintaining sound professional standards. He said the institution had a responsibility to support small businesses, promote economic empowerment and expand access to financial services.

He congratulated the bank on the milestone and called on stakeholders to renew their commitment to its growth, describing its progress as the result of God’s faithfulness, dedication and the sacrifices of those who had contributed to its development.

During the meeting, shareholders approved the bank’s financial statements covering the seven-year period. They also ratified the appointment of Moses Durodola & Co. as external auditors, Mr. James Goshan, Esq., as company secretary, and Mr. Moses as an independent non-executive director.

Goodwill messages were delivered by the Vice President of the National Association of Microfinance Banks, Mr. Benjamin Luka, who is also Managing Director of Highland Microfinance Bank, and Mallam Ahmed Ahmed, who represented the Nigeria Deposit Insurance Corporation (NDIC).

The meeting provided an opportunity for the bank’s leadership and shareholders to review its financial performance, address governance issues and consider strategies for strengthening its services to micro-enterprises and other customers across Plateau State.