LAPO Microfinance Bank Powers Grassroots Economy, Wins 12th Consecutive BAFI Award
Nigeria’s leading microfinance institution, LAPO Microfinance Bank, has once again reaffirmed its dominance in the nation’s financial inclusion landscape, clinching the “Microfinance Bank of the Year” award for the 12th consecutive time at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards.
This milestone underscores LAPO’s consistency, transparency, and unmatched commitment to empowering low-income households and small-scale entrepreneurs across the country.
Driving Financial Inclusion and Economic Growth
From its humble beginnings as the Lift Above Poverty Organisation (LAPO), the bank has grown into a major driver of inclusive economic growth in Nigeria.
With over 536 branches spread across 34 states and the Federal Capital Territory (FCT), LAPO has provided access to credit and financial services for more than 6 million Nigerians, many of whom were previously excluded from the formal banking system.
The bank has so far disbursed over ₦1.4 trillion in loans, fueling small-scale businesses, household stability, and rural development nationwide.
“Our goal has always been to lift people out of poverty through access to sustainable finance and support,”
said Oluremi Akande, Director of Marketing and Communications at LAPO Microfinance Bank.
Empowering Women Entrepreneurs
LAPO’s biggest impact is seen in its strong focus on women empowerment — who represent more than 70% of its clients.
In 2024 alone, the bank disbursed ₦237 billion to women-owned businesses, helping thousands of female entrepreneurs grow their trade, improve family welfare, and create jobs within their communities.
“When women thrive, their families and communities prosper,” Akande added.
“That’s why women remain at the center of our empowerment model.”
Creating Jobs and Building Resilience
Through its microloan and capacity-building programs, LAPO continues to boost Nigeria’s micro, small, and medium enterprise (MSME) sector — regarded as the backbone of the economy.
The bank currently employs over 7,000 staff nationwide, and recently adjusted salaries upward in response to the country’s economic situation, reinforcing its reputation as a people-first institution.
Beyond Banking: Social Impact and Sustainability
LAPO’s commitment to social good extends beyond financial services.
The bank has implemented community-focused initiatives in education, healthcare, and environmental sustainability, including a $200,000 partnership grant with Water.org to enhance Water, Sanitation, and Hygiene (WASH) access in underserved communities.
A Legacy of Excellence
Winning the BAFI Award for the 12th consecutive year, LAPO Microfinance Bank continues to set industry benchmarks for excellence, accountability, and social impact.
“This recognition reflects our long-standing dedication to empowering low-income Nigerians and promoting sustainable economic development,”
said Akande while receiving the award.
As the Nigerian economy seeks new paths toward resilience, LAPO’s inclusive financial model — combining innovation, compassion, and discipline — stands as a beacon of hope for millions striving for economic independence.
Key Highlights: LAPO at a Glance
- Branches: 536 across 34 states + FCT
- Clients Served: Over 6 million Nigerians
- Loan Disbursement: ₦1.4 trillion cumulatively
- Women Empowered: ₦237 billion loans in 2024 alone
- Employees: Over 7,000 nationwide
- Awards: 12-time “Microfinance Bank of the Year” winner (BAFI Awards)
LAPO Microfinance Bank representatives receiving the “Microfinance Bank of the Year” trophy at the 2025 BAFI Awards held in Lagos.
