+234-701-1119-693
info@newdawnmfb.com
Plot 10, Block C, Banking Layout Udo Udoma Avenue
Uyo, Akwa Ibom State

Who We Are

Company Profile

To reduce poverty and make financial services available to the huge catchment of unserved active poor in the urban and semi-urban areas of Uyo and Akwa Ibom State in general; a group of private citizens from diverse professional backgrounds met and conceived the idea of establishing a Microfinance Bank that would be dynamic and unique.

The company was incorporated as a limited liability company in May 2017 and commenced banking operations in 2018 following the grant of a license by the Central Bank of Nigeria (CBN) in February 2018. The Bank’s authorized and fully paid up share capital is N100, 000,000. 00 (One Hundred Million Naira) and the Head Office Branch address is at No 2 Udo Udoma Avenue, Uyo, Akwa Ibom State.

Who We Are

About New Dawn Microfinance Bank

Our Mission

To offer quality and cost-effective microfinance services through a highly motivated workforce for the benefit of our various stakeholders

Our Vision

To be a well-managed, innovative and reliable motivated workforce for the provider of Microfinance services to low income satisfaction of our stakeholders. and economically active poor people in Akwa Ibom State.

Corporate Success Objectives

  • To be ranked among the top 5 microfinance banks in Nigeria
  • To be the renowned partner in poverty alleviation for the economically active poor
  • To be a beacon for world-class microfinance bank service delivery in Akwa Ibom and beyond
  • To be known for found corporate governance  practice, with regard to microfinance business in Nigeria.

Business Values

  • Quality Service Delivery
  • Customer-focused
  • Appropriate information technology
  • Protective board and management
  • Personal and competitive remuneration
  • Efficient service infrastructure
  • Adequate capitalization
  • Corporate Social Responsibility (CSR)
  •  

Corporate Objectives

  • To provide loans to low-income and economically active poor people in Akwa Ibom State.
  • To provide savings facilities for low-income and economically active poor people.
  • To provide advisory services to micro and small business operators.
  • To promote entrepreneurship and self-reliance, and thereby contribute to poverty alleviation
    in Akwa Ibom State

Our Business Strategy

Our Bank’s lending methodology is conservative as we deploy best practices that allows for good portfolio quality management through painstaking client selection after evaluation of individual or business cash flow as well as proactive delinquency management. We build our relationship with government and private sector employees, self-employed entrepreneurs, micro and small scale business with sustainable income and our Bank has also developed management information systems that would facilitate service delivery and discourage gender disparity by improving women’s access to financial services.

Our Business Performance

New Dawn Microfinance Bank’s performance as reported in 2019 audited Financial Statement has been steadily positive from inception despite challenges posed by the instability of the economic, political environment and security situation in the country. Gross earnings increased by 140.7% to N74, 769,892 (December 2018: N31, 064,437), as a result of strategic process review to improve risk assets and enhance other income streams. The Bank made a full year profit before tax of N3,779,309 after writing off preoperational expenses and accounting package which sum up to N8,553,457. In addition, we also created net risk assets of N154, 102,851, up 162% from N58, 789,151 in 2018. Deposit liabilities grew to N79, 002,818, 181.7% higher than N28, 046,706 in 2018 while gross income increased to N74, 769,892 by 140.7% from N31, 064, 437 in 2018. Our total active customer account was 3,156 as at 31 December 2019, with 1,985 new accounts. As a going concern, we intend to maintain a steady growth of over 50% annually.

Our Growth & Expansion Strategy

Our growth strategy is to start small and grow big. The Bank is steadily progressing towards our target of opening additional branches and cash centres in Akwa Ibom State within the next five years (2018 -2023). In addition to the serious commitment on the part of our Directors and Shareholders to ensure that this plan is fulfilled, the Bank shall also finance its expansion through injection of additional share capital and retained earnings. However, our long term strategic objective is to transform from a unit MFB to a National MFB within 10 years of established growth expansion within Akwa Ibom State. To achieve this, we are on course in pursuing an expansion strategy through organic growth while also not losing sight of possible strategic alliances, mergers and acquisitions with our peers as additional growth strategy options. Thus our cost management, financial planning and profits appropriations are structured with this ultimate expansion strategy in view.

Our Management Staff

Managing Director/Chief Executive Officer

Mr. Emmanuel Daniels

He has 27 years of banking, finance and consultancy experience with strong
background and competencies in risk…

Mr. Emmanuel Daniels

He has 27 years of banking, finance and consultancy experience with strong background and competencies in risk management, operations, finance, treasury, internal control, branch management, human resource optimization, international trade, project management as well as strategic planning and execution. Emmanuel Daniels earned his BSc in Accounting (Second Class Upper) from University of Uyo and his MBA in Finance from University of Ado Ekiti in 1992 and 2004 respectively. He is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN) and Chartered Institute of Taxation of Nigeria (CITN).

In addition, he has studied professional courses in accounting, taxation and finance with London School of Business & Finance, United Kingdom. Following his undergraduate work, he spent 15 years in banking with Stanbic IBTC Bank (formerly Stanbic Bank); a leading African banking group focused on emerging markets globally, having been a mainstay of South Africa's financial system for 150 years and now spans 16 countries across the African continent. His subsequent experience includes an involvement with Highly Skilled Migrant Programme (HSMP) at United Kingdom where he expanded his wealth of experience to engage in consultancy, facility management and financial advisory services. Shortly after his return from HSMP, he established HONIM Professionals, a consulting organisation with focus on developing and strengthening micro, small and medium enterprises (MSMEs). He is an advocate of South-South entrepreneurship and the founding President of Ibom Entrepreneurship Society. He has attended several local and international courses on a wide range of areas covering banking, consultancy, leadership, and management. Also, he is a practitioner of ethical business and has won many professional and academic awards. Lastly his other strategic involvement is preaching the Word undiluted.

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Head, Operations & IT Unit

Mrs Ekaette Nelson

A skilled banker with over 13 years’ experience in the Microfinance Banking sector. She started her banking career with Gufax Microfinance Bank…

Mrs. Ekaette Nelson

A skilled banker with over 13 years’ experience in the Microfinance Banking sector. She started her banking career with Gufax Microfinance Bank, where she served as Head of Customer Service, Acting Head of Credit, Head of Operations and then Head of Marketing. She holds a B: Ed in Social Studies from the University of Uyo, Akwa Ibom State.

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Head, Internal Audit and Control Unit

Mr Anwana Okon Nto

A skilled microfinance banker with over 15 years’ working experience, 10 of which is in the Microfinance Banking Industry…

Mr. Anwana Okon Nto

A skilled microfinance banker with over 15 years’ working experience, 10 of which is in the Microfinance Banking Industry. He has been the Head of Accounts and Administration Department for Prospect MFB as well as the Head, Internal Audit and Control Department of Active Point MFB and Prospect MFB. He holds a HND in Accounting from Kaduna Polytechnique and a Certified Microfinance Banker with the Chartered Institute of Bankers of Nigeria (CIBN) qualification. He is an Associate Member of the Chartered Institute of Cost and Management Accountants of Nigeria; and a student member of the Institute of Chartered Accountants of Nigeria (ICAN) – Professional Level.

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Head, Business Development Unit

Miss Mary Bassey Effiong

A skilled microfinance Banker with over 13 years working experience, 9 of which is in the microfinance and mortgage finance industry…

Miss Mary Bassey Effiong

A skilled microfinance Banker with over 13 years working experience, 9 of which is in the microfinance and mortgage finance industry. Mary started her banking career with Palmcoast MFB as a Sales Representative where she gathered experience in the supervision of Akpan Andem Market as well as the Oruk Anam and Afaha Nsit centres as a Center Supervisor. She also served as the Acting Head of the Marketing Unit after which she joined Mutual Alliance Mortgage Bank as the Head, Retail & Savings Unit. Mary has an OND in Business Studies from Calabar Polytechnic Cross River State and a HND in Accounting from Heritage Polytechnic Eket, Akwa Ibom State.

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Head, Financial Control Unit

Mr Solomon Akanimoh

Mr. Solomon Akanimoh holds a Higher National Diploma in Accountancy from the Calabar Polytechnic now Cross River State University…

Mr. Solomon Akanimoh

Mr. Solomon Akanimoh holds a Higher National Diploma in Accountancy from the Calabar Polytechnic now Cross River State University of Technology in 1997; a post Graduate Diploma in Accounting from Imo State University, as well as a graduate of the Nigerian College of Accountancy Jos in 2009. He has over 21 years working experience of which fifteen [15] of these years are in auditing and banking environments. He started his working career with Thomas Gamble & Co, a firm of Chartered Accountants as An Audit Trainee; Akwa Savings and Loans Ltd, working across the major departments of the bank and rising to the position of a Branch Head; and subsequently working in Madelyn Microfinance Bank as a Financial Controller. He is an Associate member of the Association of National Accountants of Nigeria [ANAN], a student member of Institute of Chartered Accountants of Nigeria [ICAN] as well as a member of the Chartered institute of Bankers of Nigeria [CIBN]. He is happily married with children and has a keen interest in Girl Child Education projects.

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Head, Business Support Unit

Barr Esther U. Okpoho

A skillful manager of people and resources; she has over 17 years’ working experience which cuts across the Legal Profession, Telecoms, NGO and Microfinance Banking…

2. Barrister Esther Uwem Okpoho

A skillful manager of people and resources; she has over 17 years’ working experience which cuts across the Legal Profession, Telecoms, NGO and Microfinance Banking Industry. She is the Head of the Business Support Unit and responsible for the overall management of the Legal, Administrative and Human Resources Departments of the bank. An essential adviser on legal matters, customer service management, human resource affairs management, credits, governance initiatives, collateral and debts recovery. Barrister Esther Rijhumall Umoette holds a Bachelor’s Degree in Law, University of Uyo, Akwa Ibom State and was called to the Nigerian Bar in 2003.

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