Corporate Profile

LAPO Microfinance Bank Limited is a pro-poor financial institution committed to economic empowerment of low-income Nigerians through creation of access to responsive financial services on a sustainable basis. The institution was founded as a non-profit entity by Mr. Godwin Ehigiamusoe while working as a Rural Co-operative Officer.

Vision

LAPO Microfinance Bank seeks to be a first choice microfinance institution delivering responsive financial services while meeting the expectations of all stakeholders on a sustainable basis.

Mission

To achieve the goal of economic empowerment of the target group through access to affordable financial services delivered in cost-effective and innovation manner.

Institutional Purpose

LAPO Microfinance Bank Limited exists to address the economic powerlessness of a large number of Nigerians through provision of financial services to micro, small and medium enterprises on affordable terms.

Operating Assumptions

LAPO’s institutional structures, procedures and services have always been influenced by the following assumptions:

1. Low-income people are too disadvantaged to benefit from existing credit schemes operated by government and formal financial institutions.
2. The poor are not necessarily lazy.
3. An improvement in the socio-economic situation of the poor would take place if financial services were added to support their physical labour and skills.
4. Small groups have tremendous influence on cooperating individuals.
5. Poverty is reinforced by problems such as too large family size, malnutrition, ignorance and disease.
6. Poor women and children are relatively more neglected.