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

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…

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…

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…

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…

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…

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…

Our Bankers