The Nigerian Navy Microfinance Bank (NNMF Bank) has marked a decade of remarkable progress, financial empowerment, resilience, and national impact.
The milestone event, attended by distinguished guests, senior naval officers, directors, shareholders, and staff, highlighted the bank’s evolution from a modest financial institution to a powerhouse of economic stability and growth outside corridors of the navy.
In his welcome address, Captain OB Ayoade reflected on the bank’s journey since its Central Bank of Nigeria (CBN) licensing ten years ago.
Established to cater to the unique financial needs of naval personnel, their families, and the wider Nigerian community, NNMF Bank has grown from an initial capital of ₦20 million to assets exceeding ₦19 billion.
“We stand today, not just as a microfinance bank, but as a symbol of trust, security, and empowerment. This is not just an anniversary it is a testament to our shared vision, dedication, and the unwavering trust placed in us,” Ayoade stated.
Beyond financial services, NNMF Bank has been instrumental in supporting small businesses, promoting financial literacy, and fostering economic resilience, ensuring that service members and civilians alike have access to secure and innovative banking solutions.
While celebrating the achievements of the past decade, speakers emphasized the bank’s vision for the next 10 years. Ayoade outlined key priorities, including: embracing digital banking solutions to enhance service delivery, upgrading the bank’s license to a national level, reaching more individuals and businesses across Nigeria.
On sustainability, the bank has strengthened financial models to support long-term economic stability.
In his closing remarks, Rear Admiral Zakariya Shaku Muhammad, Group Managing Director/CEO of Navy Holdings Limited, commended the bank’s leadership, staff, and stakeholders for their dedication.
“This milestone is not the final destination it is a stepping stone to even greater achievements. I urge the bank to embrace innovation, expand its reach, and maintain the highest standards of corporate governance,” he stated.
He further reaffirmed the Nigerian Navy’s commitment to supporting the bank’s continuous growth, ensuring that it remains a beacon of financial security for naval personnel and beyond.
As part of its forward-looking strategy, NNMF Bank unveiled its renewed vision and mission statements, reinforcing its dedication to trust, innovation, and financial empowerment.
“To be the most trusted and innovative microfinance bank, providing financial solutions that empower service personnel, their families, and the wider Nigerian community towards economic stability and prosperity.”
“To deliver accessible, secure, and customer-centric financial services through innovation, integrity, and excellence, enhancing financial inclusion, supporting entrepreneurship, and fostering sustainable economic growth for our stakeholders.”