2013 sustainability report mfb 2013... · “the mfb was well capitalized and properly managed....

2013Sustainability Report

Microfinance Bank of the Year 2013 - BUSINESSDAY Annual Banking Award

LAPO Microfinance Bank Ltd

RC: 688867

...Improving Lives

Rating and Regulators’ Reports

CBN 2011 Examination Report

“The Board of LAPO Microfinance Bank had demonstrated commitment to the growth and existence of the

Bank since inception through its frequent Board meetings, deliberation and attendance at such meetings.” CBN 2013 Examination Report

NDIC

2012 Routine Examination Report

“The Beta plus (ß+) rating reflects LAPO Microfinance Bank Limited dominant market position, excellent

portfolio quality, good methodology for its main lending product – group lending – and strong finances.”

td:LAPO

“The MFB was well capitalized and properly managed. Board and Management brought their wealth of

experience to bear in the affairs and operation of MFB resulting in increasing profitability and capital

growth.”

“LAPO Microfinance Bank Limited is obviously a microfinance bank on the right track, in terms of structures

on ground, staff strength, branch network, and coverage all over the country.”

“The management and staff of LAPO MFB Limited have a long and successful history of involvement in social

mobilization and rural lending. They have developed and refined their service delivery structures,

operational procedures, the dynamics of rural economics and financial needs.”

2012 Report

Contents

LAPO Microfinance Bank Ltd 0 2013 Sustainability Report 1

02

The Microfinance Bank

Vision 02

Mission 02

Core Values 02

Sustainability Statement 02

Principles of Engagement 02

Target Clients 02

About LAPO Microfinance Bank

04

Sustainable Banking 04

Nigerian Sustainable Banking Principles 05

Sustainability: Concept and Nigerian Sustainable Banking Principles

07

Universal Standards for Social Performance Management 08

LAPO Experience 09

A Sustainable Microfinance Bank

12Environment

Insurance Services 19

Client Incentive Programme 20

Scholarship Scheme 20

Free Legal Aid Services 21

LAPO Quiz Competition 21

Mentoring of NGOs 22

Health Awareness Activities 23

Gender Equity and Social Justice 28

Social Change Advocacy 30

Our Impact 32

14Social

36

33

The Board of Directors 37

Establishment of Environment, Social and Governance (ESG) 37

Board Committee 38

Staff Welfare 39

Governance

LAPO 2013 Impact Assessment Report

44

University Scholarship Beneficiaries: 2012/2013 Academic Session 44

Secondary School Scholarship Beneficiaries: 2012/2013

Academic Session 47

LAPO Microfinance Bank Scholarship Scheme

60Corporate Information

Endorsement and Implementation of Client Protection

Principles and adoption 15

Sponsorship of Clients to Trade Fair 17

Engagement of Clients' Children 18

Affordable Housing Scheme 18

08Universal Standards for Social Performance Management: LAPO Experience

Summary of LAPO Microfinance Bank 2013 Staff Satisfaction Survey Report 41

About LAPO Microfinance Bank Limited

The Microfinance Bank

The origin of LAPO Microfinance Bank Limited dates back to 1987 as Lift Above

Poverty Organization (LAPO), a community development non-governmental

organization with focus on micro-credit, health awareness and gender

sensitization. In June 2010, it obtained the approval of the Central Bank of

Nigeria (CBN) to operate as a state Microfinance Bank under the Nigerian

Microfinance Policy, Regulatory and Supervisory Guidelines of 2005 as

amended in 2011. Subsequently in 2012, it obtained the CBN approval to

operate as a National Microfinance Bank. It has operations in 27 of the 36 states

in Nigeria and reported a client base of 1,038,340 as at 31st December 2013.

Vision

First choice financial institution

Mission

Improving lives

Core Values

LAPO Microfinance Bank's core values are founded on the following:

Innovativeness

Simplicity

Integrity

Excellence

Customer centeredness

Sustainability Statement

To be a sustainable Microfinance bank that supports its partners to become

proactive participants in positively impacting the environment and society

through sustainable practices, meeting the economic and social needs of its

clients while fulfilling the expectations of its stakeholders.

Principles of Engagement

1. The purpose of LAPO Microfinance Bank is to serve its clients:

We listen to them, reason with them and serve them in an

atmosphere of trust and respect.

2. We leverage on technology to serve our client faster and better:

Investment in cost-effective, tailored solutions enhances institutional

efficiency and client convenience.

3. Our business is where our clients are:

If it is done right there, it is right with the microfinance bank. We go out

there to support them.

4. We can achieve more as a team, we support each other:

We shake hands with individual performers, but we hug outstanding

team players.

Target Clients

Our primary focus is to reach out to the poor who are at the economically active

bottom of the pyramid, with limited formal education, living in rural, semi-rural,

semi-urban and urban areas.

LAPO Microfinance Bank Ltd 02 2013 Sustainability Report

BusinessDay Annual Banking Award

BUSINESSDAY


WINS WINS

Microfinance Bank of the Year

2013 2013 2013


Sustainability is broadly defined as meeting the needs of the present without

compromising the ability of future generations to meet their own needs.

Sustainability has both individual and institutional applicability, and is a

balancing act. Sustainability presumes that resources are finite, and should be

used conservatively and wisely with a view to long-term priorities and

consequences of the ways in which resources are used. In simplest of terms,

sustainability is about our children and our grandchildren, and the world we will

leave for them.

Sustainable Banking

A Sustainable Bank is a publicly or privately owned financial institution whose

central mission is investment in a society that values human development,

social cohesion and responsibility for it natural operating environment. In this

regard, developing human resources for the banking and financial institutions is

paramount in creating sound, efficient and responsive financial institutions that

are environmentally and socially sustainable. There are six C's of sustainable

banking: clients, culture, compliance, compensation, costs and capital. A

sustainable bank is expected to conduct business as follows:

1. Financing projects with sustainable development goals.

2. Using their shareholder power to improve the social, environmental

and governance performance of the companies in which they

invest.

3. Provide for transparency and openness in their banking operations.

4. Show leadership through putting in place a sustainability policy

within their own organization.

Figure 1: The Three Spheres of Sustainability

Adopting sustainable banking with the three-sphere results in some business

success factors, these business success factors for microfinance industry

include:

1. Revenue Mobilization. Increased revenue mobilization by improving the

environment and benefiting the economy through market/investment

opportunities; new financial products; and increase market share; e.g.,

Environmental Justice

Natural Resources Stewardship

Locally & Globally

Social-Environmental Environmental-Economic

Energy Efficiency

Subsidies/Incentive for

use of Natural Resources

SustainabilitySustainabilitySustainability

Environmental

Natural Resource Use

Environmental Management

Pollution Prevention

(air, water, land, waste)

Social

Standard of Living

Education

Community

Equal Opportunity

Economic

Profit

Cost Savings

Economic Growth

Research &

Development

Economic-SocialBusiness Ethics

fair Trade

Worker’s Rights


providing loans for acquisition of alternative power system that is

environmentally friendly, such as solar power.

2. Reduced Cost. By reducing environmental impacts and treating employees

well through energy, paper and water saved as costs; and higher workforce

productivity; e.g., internal operations of energy saving on lighting, air-

conditioning, IT devices, etc.

3. Improved Access to Capital. Through better governance, lower capital cost

and access to international capital markets.

4. Risk management. It reduces risk through engagement with stakeholders

knowledge-sharing and dialogue; improved management of reputational risk;

and competent advice to customers; e.g., screen loan books by carrying out

environmental audits to better understand and manage environmental risks.

5. Human Capital Development. Develop human capital through better

human resource management by higher productivity and attracting highly

skilled employees in structure career development for the staff.

6. Institutional Image. It builds and sustains positive image (reputation) for the

bank by increasing environmental efficiency, enforcing transparency, and

supporting communities. It signals to the corporate world the bank's good

governance, quality of management leadership/capacity as well as credibility.

Nigerian Sustainable Banking Principles

Nigeria is one of the developing countries that plays key roles in the African

Financial Global Markets and is among the countries that signal its commitment

to the future of its economic growth by being environmentally and socially

responsible. As financiers and one of the business leaders they have recognized

the role that they have to deliver positive developmental impacts to the society

whilst protecting its various and indigenous communities in which it operates.

As such members of the Nigerian Banker's Committee adopted nine principles

in recognition of the Nigeria's banking sector's role and responsibility to deliver

positive impacts to the society whilst protecting the environment and

communities in which we operate. The Nigerian Sustainable Banking Principles

are highlighted as follows:

Principle 1. Our Business Activities: Environmental and Social Risk

Management

We will integrate environmental and social considerations into decision-making

processes relating to our Business activities to avoid, minimize or offset negative

impacts.

Principle 2. Our Business Operations: Environmental and Social Footprint

We will avoid, minimize or offset the negative impacts of our Business

Operations on the environment and local communities in which we operate

and, where possible, promote positive impacts.

Principle 3. Human Rights

We will respect human rights in our Business Operations and Business Activities.

Principle 4. Women's Economic Empowerment

We will promote women's economic empowerment through a gender inclusive

workplace culture in Business Operations and seek to provide products and

services designed specifically for women through our Business Activities.

Principle 5. Financial Inclusion

We will promote financial inclusion, seeking to provide financial services to

individuals and communities that traditionally have had limited or no access to

the formal financial sector.



Principle 6. E&S Governance

We will implement robust and transparent E&S governance practices in our

respective institutions and assess the E&S governance practices of our clients.

Principle 7. Capacity Building

We will develop individual institutional and sector capacity necessary to identify,

assess and manage the environmental and social risks and opportunities

associated with our Business Activities and Business Operations.

Principle 8. Collaborative Partnerships

We will collaborate across the sector and leverage international partnerships to

accelerate our collective progress and move the sector as one, ensuring our

approach is consistent with international standards and Nigerian development

needs.

Principle 9. Reporting

We will regularly review and report on our progress in meeting these Principles

at the individual institution and sector level.



A Sustainable Microfinance Bank

LAPO Sustainability activities are implemented within its Microfinance Bank's

Environment, Social and Governance (ESG) Initiative. The key elements of the

Initiative are environmental protection; client protection and support and

institutional strengthening. The institutional structures which drive the ESG

initiatives include a Board committee on Environment, Social and ESG

Management Team. The Board Committee provides strategic direction and

guidance towards the achievement of the Microfinance Bank's sustainability

objectives while the Management Team is responsible for implementation of

the components of the Initiative.

During the period, a sustainability strategy was developed with clear

sustainability statement which expresses mandate LAPO Microfinance Bank's

of achieving Triple Bottom-line of People, Planet and Profit.

A number of activities were carried out to realise the ESG's objectives. The clean

energy lending activities received a boost during the year. More client obtained

loans to acquire clean cooking gas cylinders within the partnership between

LAPO and Oando a major oil and gas trading company. Also the microfinance

bank in partnership with d.Light also distributed large number solar lamps to

clients.

The microfinance bank deepened its social performance activities during the

year. Activities to enhance client protection and support were carried out during

the period. The microfinance bank's client feedback mechanisms were

strengthened; the In Touch initiative whereby every manager works at a branch

office twice a year was diligently implemented during the year. The daily client

calls by management staff were also made and analysed and provided useful

input into decision making process. A Call Centre to facilitate client feedback

was also set up.

LAPO sustained its commitment to supporting the Microfinance Bank

education of children of clients. The Board of Scholarship Scheme made a LAPO

total of 1,432 scholarship awards to children of clients. Plans are being put

together to provide support for children of clients who choose to acquire skills.

We hope to commence its implementation in 2014

Finally, we seek to promote health and safety of staff members. Provisions of

LAPO's HIV/AIDS Workplace Policy were complied. Health and Safety

Guidelines are being developed. Full implementation will begin in 2014.

I want to reiterate our commitment to the realization of the microfinance bank's

sustainability mandate.

Godwin Ehigiamusoe

Chief Executive Officer


“ Sustainability LAPO Microfinance Bank's

activities are implemented within its

Environment, Social and Governance

(ESG) Initiative.”

Universal Standards for Social Performance Management: LAPO Experience

Universal Standards for Social Performance Management

Social performance is the effective translation of an institution's social mission

into practice. The social value of microfinance relates to the way financial

services improves the lives of the poor and excluded clients, their families, and

the ability to widen the range of opportunities for them and their communities.

Social performance monitoring and management encompass the entire set of

processes implemented by a Microfinance Institution (MFI) to generate positive

outcomes for its clients and for the communities it serves. They include analysis

of the developmental goals of institutions, the systems and procedures MFIs

have in place, and the effectiveness of these procedures at monitoring progress

towards organizational objectives. To create this value, the social objectives of a

MFI may include the following:

Serve increasing numbers of poor and excluded people in an

ongoing, sustainable way both by broadening and deepening

outreach;

Improve the quality and appropriateness of the financial services

available to target clients through the systematic assessment of their

specific needs;

Create benefits for microfinance clients, their families and

communities that are related to social capital and social links, assets,

reduced vulnerability, income, access to services and the fulfillment of

basic needs;

Improve the social responsibility of the MFI towards its employees,

clients and the community it serves;

Enabling the clients to avoid over-indebtedness.

The Universal Standards for Social Performance Management (USSPM) have

been developed by Social Performance Task Force (SPTF) members to establish

a common global understanding of what “good Social Performance

Management (SPM)” means for double/triple bottom line MFIs. The SPTF, an

international group comprised of investors, donors, MFIs, microfinance

networks, research agencies, and other stakeholders united in the goal of

defining, measuring, and improving the social performance of MFIs. The SPTF

has created both a framework of analysis and a set of standardized indicators to

assess MFIs' social performance.

MFIs can use them to self-regulate their SPM practice, as well as strengthen it

over time. The Standards are organized into the following six categories:

1. Define and Monitor Target Clients and Social Goals.

2. Ensure Board, Management, and Employee Commitment to Social

Performance.

3. Protect Clients' Rights.

4. Design products, services, delivery models and channels that

respond to Clients' Needs and Preferences.

5. Treat Employees Responsibly.

6. Balance Social and Financial Returns.

The Standards apply to both MFIs and stakeholders in the microfinance

industry. MFIs should use the standards in two key ways:

To guide their SPM strategies.

To self-regulate their social performance.

The stakeholders will also find the Standards useful as follows:

Investors and donors can use the Standards to understand an MFI's

SPM practices and help them direct their funds toward MFIs with

strong SPM, and to identify SPM capacity building needs among

investees.

Social raters and social auditors already use many of the individual


standards in their assessments, but may realize the need to assess

compliance with the entire set of standards as part of the rating and

auditing processes.

Networks and associations can use the Standards as a tool to assess

the social performance of partner MFIs and make critical decisions

about capacity building, partnership agreements, and funding.

LAPO Experience

The need to effectively measure and monitor numerous social and economic

activities (services) which LAPO offer to its clients led to the adoption of a

universal social performance management system. The rationale for adopting a

standardized social performance management system is to ensure that the

contributions of various departmental or units' activities towards the

achievement of LAPO's social goals are effectively monitored and measured.

Define and Monitor Target Clients and Social Goals

LAPO Microfinance Bank's financial and social performance is encapsulated in

the Vision, Mission and Core Values. To further engage clients in a manner that

enhances care, support and respect, the Bank formulated and adopted a set of

four cardinal principles of engagement and has remained a preferred bank in

rural and urban communities because of the followings:

LAPO applies simple and flexible institutional process in delivering

quality and responsive products and services that meet the needs of

all classes of clients.

LAPO brings its services to the door-step of the clients by opening

branches in clients' neighbourhoods in rural and urban centres. This

reduces clients' cost of access.

LAPO's commitment to and investment in client relationship

management.

LAPO's pricing remains most competitive.

LAPO MIS has the capacity to capture process and provide data as

may be required by all stakeholders. The Bank report and publish its

activities with MIX Market (Microfinance Information eXchange).

Ensure Board, Management, and Employee Commitment to Social

Performance

Adequate steps have been taken to ensure commitment, among which include

the inauguration of the Environment, Social, and Governance (ESG) Board

committee in 2012 with the responsibility of reviewing the Bank's ESG practices,

monitor performance against agreed targets and make recommendations to

the Board on Environment, Social, and Governance Strategies. The bank's ESG

Management team implement social performance activities through regional

and branch offices and also to its clients. In ensuring commitment and

realization of the Social Performance Management, the bank established the

client relationship unit, endorsed the smart campaign and created the ESG unit

to drive the initiative with series of trainings and workshops for capacity

enhancement.

Protect Clients’ Rights

LAPO Microfinance Bank has adopted and embedded the seven principles of

client protection into her core business operations and has translated these

principles into policies, practices, products and attitudes. The bank has also

taken appropriate steps to deepen the realization of the objectives of these

principles. Steps taken are highlighted under social activities in this report.



Design Products, Services, Delivery Models and Channels that meet

Clients' Needs and Preferences

LAPO Microfinance Bank seeks to assist clients to address various challenges

through introduction and development of new products, initiatives and

schemes. LAPO uses Progress out of Poverty Index (PPI) to monitor outreach

and track clients' progress overtime. Customer satisfaction survey also helps

LAPO to realize how to target clients as well as develop products that serve the

different categories of clients. The establishment of client relationship unit in

2007, management In-Touch initiative and management call log were all

centred on meeting with clients' needs. Reports generated from these exercises

and initiatives include the following:

Product delivery;

Staff attitudes;

Savings product pricing;

Competitors' strategies; and

Other suggestions and changes which they desire LAPO to effect.

Treat Employees Responsibly

LAPO Microfinance Bank realizes that organizational goals are achieved

through its people who share a common identity and a strong desire to excel.

Alignment of organizational goals and desires of staff is a strategy that ensures

team work, mutual satisfaction and excellent performance. Staff satisfaction is

better ensured through continues review and modification of policies and

procedures. The Bank conducts Staff Satisfaction Survey on annual basis.

Information generated from the process is analyzed and imputed into existing

processes to ensure an efficient operational policy that meets the needs and

welfare of staff. The provision of an enabling environment for the practice of

good staff welfare system was demonstrated in renaming Human Resources to

People Management in referring to the workforce as people rather than tools or

factors of production. The Bank ensures regular payment and upward review of

salary. In addition to salary, staff also benefit from payment of performance

bonuses which are very strong motivating factors to increase staff morale and

commitment. The Bank has commenced the implementation of contributory

pension since 2007 in line with the Pension Reform Act, every staff is registered

and the contribution is managed by licensed Pension Fund Administrators. The

Bank insures all staff under the Combined Employers Liability, Group Personal

Accident and Group Life Insurance. The combined effect of this is that each staff

is covered for twenty four hours for bodily injury and or death arising out of and

or in the course of employment.

Balance Social and Financial Returns

LAPO social performance management is a structured process that ensures

that social and economic goals of LAPO are continuously balanced. The Bank

social performance activities are carried out using two approaches: Integration

into the processes of LAPO Microfinance Bank and linkage approach by which

social services are provided by LAPO NGO. Social empowerment programmes

implemented by LAPO NGO includes HIV/AIDS prevention, care and support

programmes, legal aid, gender equity programmes, maternal and child health

activities, environmental and leadership training. In 2012 a five-year growth

strategic plan was formulated articulating our aspirations to expand outreach,

increase performance leadership through the revision of our operating and

service delivery model and institutionalize a people management strategy that

will not only promote customer-centeredness but also build strong teams within

staff. The focus of the strategy objectives include reaching 5 million clients by

2017, diversify clients segments to expand outreach; diversify existing products

and services; leverage on technology for efficient-based processes and

operations; increase savings mobilization; leverage on technology for efficient-

based processes; develop staff capacity to be better positioned to satisfy client

needs and create a good working environment.



Summary and Conclusion

LAPO Microfinance Bank have developed and regularly refined its services,

delivery structures and operational procedures in order to meet the needs of all

our stakeholders. This has been made possible through implementation of

various initiatives and collaboration with reputable organizations towards

sustainability which are within the bank Environment, Social, and Governance

(ESG) initiative. The bank sustainability report for 2013 presents main activities

that were developed, improved on and achievements made towards achieving

“Triple Bottom Line Approach to Sustainability.”



Environment

Environment

LAPO Microfinance Bank has implemented various initiatives towards

protection and preservation of our environment through various partnerships.

Among these, is the implemented in partnership with 'Clean Energy Lending'

Alithea Capital and Oando, a major oil and gas company. Alithea Capital

provided the fund, while Oando provided the cooking gas and cylinders. LAPO

Microfinance Bank provides loans to clients to buy small cooking gas cylinders

while some clients act as distributors. The objective of the product is to provide

more environment-friendly source of energy. Clients are encouraged to switch

from the use of firewood and kerosene to cooking gas. The product is expected

to make huge impact on tress conservation and reduces emissions, thereby

reducing diseases such as Asthma and Cancer etc. As at 31st December 2013,

we have disbursed a total of N135.2 million to clients to finance 21,021 units of

3kg O-Gas cylinders.

Another major step taken in this regard is LAPO Microfinance Bank partnership

with d-light, a for-profit social enterprise whose purpose is to create new

freedom for customers without access to reliable power supply. d-light

designs, manufactures and distributes solar light and power products

throughout the developing world. A total of N5.03 million was disbursed to

clients to finance 821 d.light solar lanterns. The benefits from d-light solar lamps

are highlighted as follows:

Safe and Healthy Homes: Kerosene lamps are key contributor to indoor air

pollution and have caused countless deaths by suffocation, burns and fatal fires.

d.light lanterns are extremely safe and use super-bright LEDs that do not emit

any pollutants.

Better Study Environment: The poor light quality and noxious fumes of

kerosene lanterns hinder children's ability to study effectively. d.light lanterns are

bright enough to facilitate lasting and more effective studying hours, which

directly lead to increased learning hours.

Income Generation: The bright and reliable solar light supports income-

generating activities such as farming and retail businesses/trading.

Client's Testimony

Mrs Maryam Abdullahi, joined LAPO in July 2010, she is married, and sells

cooked food. She resides at Tudun Murtala, Concer Yan Gana in Kano. She

shares her experience as follows: “d-Light has done great things in my life and

business; I have two d-Light lanterns, one inside the house and the other one

outside the house for my business to sell my food in the night. The brightness of

the lamp has attracted more customers, because it makes the place very bright

and conducive at night. Customers have shown interest in the lamp and I have

directed them to LAPO. I also use it to charge my phone; I do not buy candles

and kerosene for lamps again, thank God for LAPO.”

Mrs. Maryam Abdullahi at her place of Business with d.light as source of light

LAPO Microfinance Bank Ltd 1 2013 Sustainability Report 3

Social

Social

Poverty has different causes and manifestations such as poor health, social

exclusion and injustice. In realization of these challenges, LAPO Microfinance

Bank in partnership with LAPO NGO and other organizations seek to assist

clients to address these challenges suffered by clients through introduction and

development of new products, initiatives and schemes. Some social services are

provided by LAPO NGO which LAPO Microfinance Bank pays for, which

includes Health Sensitization, Maternal and Child Health, Reproduction, Health

and HIV/AIDS prevention, Water, Sanitation and Hygiene (WASH), Legal Aid,

Gender Equity and Social Justice, Social Change Advocacy, Mentoring of NGOs

and Quiz Competition.

Endorsement and Implementation of Client Protection Principles and

adoption

LAPO Microfinance Bank has adopted and embedded the seven principles of

client protection into her core business operations in order to ensure that clients

are protected against exploitation and unethical practices. The Bank has

translated these principles into policies, practices, products and attitudes and

has taken appropriate steps to deepen the realization of the objectives of these

principles. The seven principles with set of action taken by LAPO are highlighted

as follows:

These policies are highlighted as follows:

S/N

Client Protection Principles Set of Actions by LAPO

2.

3.

Prevention of Over-

indebtedness

Transparency

Small size of loans disbursed to first

borrowers and gradual increase in

the subsequent circles reflecting

the growing absorptive capacity of

their businesses.

No client is allowed to take more

than two types of loans.

Clients are advised during pre-loan

training not to divert loan funds to

other activities.

Extensive consultation with clients

when introducing new products

and services.

Proper business appraisal and

ve r i f i c a t i on p re cede s l oan

disbursement.

Pricing information are explained in

local languages and in manner

clients are familiar with.

All repayments/deposits are

proper ly recorded in c l ient

passbook.

Schedule of loan repayment are

made known to clients during pre-

l o a n t r a i n i n g a n d b e f o r e

disbursement.

1. Appropr ia te P roduct

Des ign and De l i ve r y

Channels

Repayments are scheduled weekly

or monthly to sui te c l ients '

economic activities.

Introduction of small business loans

to meet the funding needs of

clients with bigger businesses.


Other steps and actions taken as follows:

- Strengthening of the Client Relationship Unit.

- Implementation of Management In-Touch Initiatives.

- Management Call Log.

- Rates and charges are presented in a manner that clients can easily

understand and are displayed in all branch offices.

- Client Support Officers (CSOs) are required to treat clients with dignity and

courtesy.

- Client Support Officers are forbidden to accept gifts from clients.

- Clients' and staff satisfaction surveys must be conducted at regular

intervals.

- Clients' protection principles and policy are components of staff training

modules.

- Clients are taught the key elements of the client protection principle during

the mandatory pre-loan training.

- New credit unions must demonstrate adequate understanding of clients'

protection principle before the Union Credit Certificate and subsequent

disbursement are approved.

Client Relationship Unit

The Client Relationship Unit was established in 2007. The Unit amongst other

functions, designs and implements policies and guidelines to enlighten credit

staff on appropriate relationship with clients; and to receive and treat

complaints and concerns from clients. The Unit takes primary responsibility for

implementation of the client protection principles within LAPO. It manages

specific feed-back initiatives such as Management In-Touch and Client Call

Log.

Management In-Touch Initiative

This requires every member of LAPO management team to work in a branch

office for five working days in a quarter. This has been helpful in keeping touch

Responsible Pricing

Fair and Respectful

Treatment of Clients

Privacy of Client Data

Mechanisms for

Complaint Resolution

Avoid multiple charges, only two

items of charges that is, interest and

administration fee. Display of

charges in all branches.

Codified Staff Code of Conduct

distributed to staff members.

Incorporation of staff relationship

into staff training modules.

Appointment of Client Relationship

Officers.

Existence of Client 'Consent Form'

for use of photograph.

Regulations on disclosure of

transactional information of client.

Existence of client care lines.

Appointment of Regional Client

Relationship Managers.

Telephone numbers of Client

Re la t ionsh ip Un i t on c l i en t

passbooks.

Top Management staff make calls

t o c l i e n t s u s i n g r a n d o m l y

generated telephone numbers of

clients.

In-Touch visits to branches and

credit groups by members of the

Management Team.

Feedback sessions at Branch

Council meetings/forum.

4.

5.

6.

7.

Social


with activities at the field level including receipt and prompt treatment of

complaints and concerns of clients.

Management Call Log

Top Management staff members make telephone calls to clients using

randomly generated telephone numbers of clients. Issues discussed during

such calls include clients concerns and complaints around size of loans, pricing,

delivery and repayment, collection structure and procedures, filed staff attitude,

and their suggestions for improved service delivery. Analysis of responses is

carried out monthly by the Client Relationship Unit with the reports discussed at

Management meetings.

Sponsorship of Clients to Trade Fair

LAPO Microfinance Bank participated in the 2013 Lagos International Trade Fair,

a premier international trade fair held in Nigeria, organised by the Lagos

Chamber of Commerce and Industry (LCCI). The event took place from 1st to

10th of November 2013, at Tafawa Balewa Square, Lagos. One major objective

of the event for LAPO was to support our clients to showcase their wares and

our impact in the communities which we serve. Six LAPO clients were

sponsored to display their products and services at the fair which provided

them with the opportunity of reaching out to new customers and making large

sales. This is a reflection of our corporate social commitment of supporting

clients in the areas of marketing, exposure to new market and building a wider

network for business growth.

Client's Testimony

Omobayonle Olufemi Kenny, one of the beneficiaries of LAPO sponsorship to

2013 Lagos International Trade Fair. Kenny is married with children, a specialist in

the production of leather shoes, palm sandals and leather slippers since 1997,

he joined LAPO in 2010. He was given the opportunity to display his products at

LAPO Microfinance Bank stand at the fair at no cost. His workshop is at 14, Oja

Ale, Iperu Remo in Ogun State, Nigeria, while his showroom is located at Shop

8, Market Road, Oja Ale, Iperu Remo, Ogun State, Nigeria. He was so excited

with the support from LAPO and expressed as follows “I'm very happy and

grateful to LAPO for giving me the opportunity to display my products at the

fair at no cost; I made huge sales and new contacts.”

Kenny Omobayonle Displays Wears at Lagos International Trade Fair 2013

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Engagement of Clients' Children

LAPO Microfinance Bank believes in total support to all its clients. In addition to

provision of financial and social services, the Bank has gone further to engage

qualified children of clients. The objective of this process is to deepen relations

with clients and also a way of empowering households with gainful employment

which has been the practice for some time. In 2013, management developed a

more robust approach of identifying qualified children of clients through the

different regional offices and at the end of the exercise, a total of 62 qualified

children of clients were engaged.

Affordable Housing Scheme

LAPO Microfinance Bank does not only offer credit for economic activity but

equally encourages and assists clients in providing shelter. LAPO collaborated

with Lafarge (a major player in the cement production sub-sector) and French

Development Agency to provide affordable housing for low income

households at interest rate lower than that charged for loan for economic

activity. Technical services are provided to clients before and during

construction at no cost. The technical assistance enables clients to lower their

costs; choose their designs among a catalogue of designs and ensure that the

quality of the construction through selected construction materials meet the

required standard; as well as assist on construction supervision. The benefits of

the scheme to clients are highlighted as follows:

- Afford clients the opportunity to own a house.

- Save clients the risk of using business capital for housing project.

- Offer convenient model of building a house at affordable rate.

- Reduce cost to clients through competitive pricing.

- Allow clients make repayments which their cash flow structure can

accommodate.

- Offer clients technical services at no cost.

Other benefits accruable to clients in the long run are as follows:

- Increase quality of life and 'freedom' (no fear of the landlord

syndrome);

- Increase feeling of security and self-confidence;

- Increase social status;

- Reduce over-crowding;

- Access to improved basic services such as good source of drinking

water and better sewage system;

- Increase hygienic conditions and reduce possibilities of infectious

diseases and injuries;

- Increase in financial security as an asset investment for clients which

will appreciate in value over-time.

Client's Testimony

Mr. Adeogun Ajani Babatunde of 10, Ojodun Street, off Cinema Road, Batoro,

Sagamu, Ogun State, Nigeria. He accessed LAPO Housing Loan to complete

his building and expressed his excitement as follows: “I'm a civil servant with a

lovely wife and two children. I got to know about the housing loan scheme and

decided to apply. I met with the designated Client Support Officer who helped

me prepare all the necessary documents and the fund was made available. I

have now completed the building and moved into the house, and I'm now a

Landlord of a unique house, I'm very grateful to God and LAPO.”

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Insurance Services

LAPO Micro-insurance scheme was initiated to provide economic and social

protection for its numerous clients. The Bank in collaboration with Goldlink

Insurance Plc provide a range of insurance services which covers life, disability,

fire at the place of business and child birth. During the reporting period, a total

of 4,330 persons and households benefited from compensation from life,

disability, fire at place of business and medical as against 2,788 recorded in

2012. This represents an increase of 55.3%. A total of 2,356 clients received

compensation for delivery which amounted to N36.5 million, the beneficiary for

delivery represent 54.4% of the total number of beneficiaries. The sum of

N155.2 million was paid as compensation in 2013 representing an increase of

52.3% over that of 2012.

LAPO Microinsurance Beneficiary

Mrs. Ijeoma Ejimnkoenye a recharge card seller; joined LAPO on the 3rd of

October 2012. She delivered a baby girl on the 23rd of July, 2013 at a Primary

Healthcare Centre at Angwandodo, Gwagwalada, Abuja. She expressed her

excitement as follows: “I am grateful to LAPO for their assistance to us. It is rare

to find any bank that can support their clients to this extent. They are not just

interested in making profit from us, they also think of how to help us (clients), the

assistance from LAPO to clients is a proof that they really have regard for clients'

life and welfare and not just the profit made from clients. LAPO has greatly

played a key role in my life and that of my family, with the loan and the weekly

repayment method, it is so convenient. So long as I am in business, I will not

leave LAPO, am glad to be part of LAPO. I will want to use this money given to

me to meet my baby's needs.”

Adeogun Babatunde and Family at their Newly Completed Building

Mrs Ijeoma Ejimnkoenye a LAPO Microinsurance Beneficiary

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Violet Idehen a goat seller in Benin City, joined LAPO on the 24th of September,

2008. She share her experience as a beneficiary of LAPO Micro insurance: “I stcollected N500,000 loan from EDLS 1 branch and had paid for a period of

seven months before I had a motor accident on my way back from Ilorin market

where I purchase goats for sale. The first thought after being alive was how I was

going to pay back LAPO loan, so I called the Client Support Officer (Loan

Officer) in charge of my loan and informed her of what happened. All the

branch staff came to pay me a visit at the hospital. Although I was scared when I

sighted them coming at first, but they encouraged me and told me to stop

crying so that I can get well on time, and took my photograph while on the

hospital bed. Surprisingly, while still at the hospital, I was called that the loan

balance has been paid by the insurance company and I was even entitled to

some amount of benefit to off-set my hospital bill. I was speechless because I

never expected it. It was in December 2013 that I stopped using crouches.

Assuming the loan balance was not paid what would I have done? In fact, God is

good and LAPO has done well for me.”

Client Incentive Programme

As LAPO provides a mix of financial services to low-income earners and owners

of micro-enterprises, the Bank equally encourages and reward clients who save

towards the expansion of their businesses and exhibit good loyalty over time. In

2012, a total number of 4,388 clients across Nigeria were rewarded with

different gift items such as refrigerators, television set, pressing irons and

wrappers. In 2013, with massive awareness campaign, a total number of 12,392

clients were rewarded with various gift items.

Scholarship Scheme

LAPO instituted scholarship scheme in 2007 to provide support for clients to

send and retain their children in school. The scholarship scheme initially

covered the secondary school education of the awardees. In 2009, the scheme

was extended to empower children of orphanage homes. With the positive

impact of the scholarship scheme, LAPO Scholarship Board extended the

scheme to accommodate University Education with effect from 2012. An

additional 209 secondary school students and 30 students from various

universities across Nigeria have benefited from the scheme in 2013. A total sum

of N64.7 million has been paid as benefit since inception of the scheme.

LAPO Scholarship Beneficiary

Mrs Oluwasegun Olaiya John, a trader and the mother of Oluwakorede

Oluwagbenga Olaiya (scholarship beneficiary), joined LAPO in May 2006, it was

a tough experience for her especially sponsoring her son's education at the

Federal University Oye-Ekiti. When she was told about the scholarship scheme

programme for 2013/2014 academic session, she applied and her son scaled

through the selection process. She explained “All through the screening process

my son and I were in prayer and fasting and to my greatest surprise, I was called

upon that my child scaled through. Since then LAPO has been giving us

N100,000 which covers my son’s university needs. My Burden has been taken

away by LAPO and my son's dream of becoming an Electrical and Electronics Voilet Idehen a Beneficiary of LAPO Microinsurance Scheme

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Engineer would be realized. The truth is that the process of selection is what

makes me trust LAPO the more. It is only in LAPO that the poor can be fully

supported to get out of poverty.”

Education Centre, Benin City and other organizations to achieve success during

the year.

Mrs Olaiya and Son Oluwakorede LAPO Scholarship Beneficiary

Free Legal Aid Services

In Nigeria, most laws prohibiting discrimination against women are not properly

enforced so a lot of poor women are discriminated against and subjected to

humiliation and barbaric treatment. LAPO therefore offers them free legal

counselling and defend those unable to afford legal representation. In 2013,

LAPO Microfinance Bank through LAPO NGO sensitized 3,075 women on legal

issues and defended the rights of 26 others who were unable to afford legal

services. The LAPO NGO partnered with the Edo State Customary Court of

Appeal, Welfare Unit of Oredo Local Government and Catholic Counselling and

Legal Aid Sensitization

LAPO Quiz Competition

LAPO recognizes education as a potent weapon against poverty, and has since

2006 been organizing secondary school quiz competitions for the intellectual

development of youths in Edo State. The competition enhances students'

understanding of science subjects and current affairs, provides a platform for

teachers and students to exchange ideas and learning experience, develops

and inculcates the spirit of discipline and excellence amongst youths who are

the future leaders of the nation. Gloryland Group of Schools, Auchi, Edo state,

won the 2013 edition of the competition. The school defeated 61 public and

private secondary schools across the state who participated in the competition

held in collaboration with the Edo State Ministry of Education. Prizes won

include the prestigious LAPO Quiz Trophy, text books, science laboratory

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equipment, white boards, complete computer sets and other educational

materials.

bookkeeping, technical support, donation of materials/equipment, internship

programme for Rural Builders Organization and assessment visit to 10

protégés. This has placed them in a better position to respond more effectively

to issues on development.

Gloryland Group of Schools with the LAPO Trophy

Mentoring of NGOs

In 2013, LAPO mentored and strengthened the programmme delivery capacity

of 17 community development NGOs, in fulfilment of our corporate social

responsibility. Activities carried out during the year includes training on

NGO Mentoring session in Progress

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Health Awareness Activities

Integration of Health with Microfinance Services

There is no doubt that integrating health services with microfinance has added

benefits for clients, their families and the wider community. LAPO Microfinance

Bank solely funds health services delivered during credit group and branch

council meetings using specialized staff (parallel model). The organization

places emphasis on quality of service, especially when delivered by specialists.

In 2013, LAPO sustained her collaboration with Partners for Development,

Nigeria (PfD) to enhance access of clients in Edo and Delta states to

Reproductive Health information using both unified and parallel models

including the distribution of Information, Enlightenment and Education

materials.

The Integration programme has improved health knowledge as well as induced

positive behavioural changes amongst microfinance clients. The changes are

critically important for improving the health status and economic wellbeing of

the poor and low-income earners. Services rendered in this regard for 2013 are

highlighted as follows:

Health Sensitization during Credit Group and Branch Council Meetings

Women constitute over 90% of the Bank credit groups; they are low-income

earners, small scale entrepreneurs or petty traders. They are likely to practice

self-medication and delay the utilization of services in standard health facilities

because of their minimum level of health information and literacy. These clients

meet weekly for loan repayment while their leaders converge quarterly for

Branch Council Meetings. In year 2013, LAPO seized this opportunity to

provide sensitization services covering malaria, blood sugar, blood pressure,

breast and cervical cancers, hepatitis, maternal and child health, HIV/AIDS,

LAPO health screening for clients in Port HarcourtHealth Sensitization during Branch Council Meeting

in Badagry Branch, Lagos

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Prevention of Mother to Child Transmission (PMTCT) of HIV/AIDS and Water,

Sanitation and Hygiene (WASH). This has increased the knowledge of target

beneficiaries, with positive consequence on their preventive health behaviour

such as hand washing, uptake of antenatal care and child immunization, timely

management of acute health problems such as HIV, diarrhea and respiratory

infections, blood pressure and blood sugar, and prevention of terminal diseases

like AIDS and cancer. During the year, 29,437 clients and 10,090 union leaders

were reached through union and branch council meetings respectively.

Free Health Counselling and Screening Services

The earlier a health-care provider is able to diagnose a health condition, the

better the likelihood of a successful treatment. Early detection of many health

conditions and diseases can be life-saving. LAPO is therefore providing free

health counselling, screening and referral services to LAPO Microfinance Bank

clients towards promoting preventive health practices. A total number of 70,570 clients were screened during the year, out of which

2,600 clients were referred to health facilities for healthcare.

Training of Microfinance Clients as Health Agents

The training of significant members of LAPO credit groups as health agents is a

cost-effective strategy that has been adopted by the organization to reach

target groups and communities. This process ensures continuous provision of

information to community members for the development of appropriate

health-seeking behaviour. In 2013, LAPO trained 714 clients to enable them

provide basic health information and referral services to clients and community

members. This intervention has been associated with increase in health

knowledge and healthy practices such as uptake of antenatal and child care

In 2013, LAPO provided clients counselling, screening and referral services as

reported in Table 1 below:

Free Health Counselling and Screening Number of BeneficiariesS/No.

1. Blood Pressure Screening 35,860

2. Blood Sugar 13,051

Malaria 10,8833.

Hepatitis 5294.

HIV Counselling and Testing 10,2475.

Total 70,570

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Table 1: Number of Beneficiaries of Health Counselling,

Screening and Referral Services


Screening for Hepatitis B during Suleja Branch Council Meeting

services including the adoption of appropriate breastfeeding practices

amongst members of our target groups and communities.

Maternal and Child Health

Activities as it relates to maternal and child health are reported as follows:

Health Facility-based Sensitization

As part of our efforts to promote maternal and child health in target

communities, LAPO carried out monthly health sensitization across eight

Primary Health Centres in rural communities where we also worked during the

year. About 1,587 persons who visited the facilities for Maternal and Child

Health services were sensitized on issues of pregnancy care, infant care, child

immunization, breastfeeding, dangers of self-medication, malaria, cervical and

breast cancer, hand washing and Prevention of Mother to Child Transmission

(PMTCT), etc. The programme has further boosted the confidence of

community members on the services provided in the facilities.

A cross section of participants at 2013 International Women's Day Celebration

Health Facility-based Sensitization and assessment visit

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Community Development Associations

Working with Community Development Associations is one of LAPO's

intervention strategies to ensure programme sustainability even after we may

have advanced to other communities. In 2013, LAPO worked closely with

Umunede Community Health Committee in Delta State to deliver community-

based health services and mentored 16 of their members.

Health Facility Development Programme

The Nigerian health sector is characterized by fragmented health service

delivery, inadequate and inefficient financing, weak health infrastructure and

mal-distribution of health work force. Consequently, the health care system is

unable to provide basic, qualitative, cost-effective and accessible Maternal and

Child Health (MCH) care services especially at community levels. This has

resulted in unacceptable cases of maternal, infant and child mortality. LAPO

health facility intervention is therefore aimed at strengthening target centres for

high quality Maternal and Child Health services thereby ensuring low morbidity

and mortality rate for infants, children and pregnant mothers in highly

vulnerable communities. During the year, LAPO partnered and conducted

health facility assessment visits to Utese and Iguiye Primary Health Centres in

Ovia North-East Local Government of Edo State. The participatory assessment

was performed with the full participation of the Primary Health Care

Coordinator and the healthcare providers in facilities. The assessment report

was submitted to relevant authorities, matrons and traditional heads of the host

communities for a common understanding of identified gaps, intervention and

shared roles.

Reproductive Health (RH) and HIV/AIDS Prevention and Mitigation

Poor reproductive health (RH) exacerbates poverty and perpetuates the cycle

of inter-generational poverty. It reduces economic productivity and financial

earnings, constrains investments in children education, promotes malnutrition

and leads to untold family suffering. Poverty also aggravates poor reproductive

health, increases risky sexual behaviours which further fuels the spread of HIV

infection and other Sexually Transmitted Infections (STIs) in the country. LAPO

therefore promotes RH and HIV/AIDS intervention amongst various groups.

2013 activities are reported as follows:

World AIDS Day

LAPO celebrated the 2013 World AIDS Day on December 1, with community

sensitization focusing on HIV Counseling and Testing (HCT) towards curtailing

new HIV infections and halting the development of AIDS among those already

infected but unaware. Four community sensitization sessions, reaching 382

persons were organized to mark the event.

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World Aid Day 2013 celebration in Delta State


Workplace Policy on HIV/AIDS

LAPO has published workplace policy on HIV/AIDS, the manual which agrees

with the ILO principles and the National Workplace Policy of the Federal Ministry

of Labour, enunciates the policy of the LAPO Group concerning HIV/AIDS issues

as it affects staff. During the year, new staff members were sensitized and

received free copies of the policy.

Water, Sanitation and Hygiene (WASH)

Poor access to water and sanitation facilities, and unsafe hygienic practices are

the main causes of diarrhoea, one of the world's major child killers. WASH is

regarded as a central component of health and socio-economic development

as progress in this area is closely related to child mortality, primary education,

and poverty eradication. LAPO fully agrees with Ban Ki-moon, UN Secretary-

General, that “Safe drinking water and adequate sanitation are crucial for

poverty reduction, crucial for sustainable development, and crucial for

achieving any and every one of the Millennium Development Goals.” In

2013, LAPO promoted WASH amongst target beneficiaries, majority of whom

are low-income earners with children who are vulnerable to diarrhoeal

diseases. Major events for 2013 in this regard are as follows:

World Water Day

The March 22, 2013 World Water Day which theme was "Community

Cooperation for Safe Water" provided LAPO the opportunity to raise

awareness on the importance and benefits of communities working together to

protect communal sources of water. We organized seminars in eight

communities where over 477 persons were reached with information on safe

water and the need for cooperation to protect community sources of water.

Global Handwashing Day

LAPO sensitized school children in target communities on the importance of

handwashing during the 2013 Global Handwashing Day tagged “The power is

in your hands”. 411 school pupils received information and training on proper

hand washing with emphasis that health can be improved by washing hands

with soap especially after using the toilet, before eating, after cleaning and

before feeding the baby. Children were particularly targeted because they

remain a potential agent of behavioural change among friends and members

of their families.

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2013 Global Handwashing Day: LAPO Sensitization of School Children

World Toilet Day

LAPO observed the November 19, 2013 World Toilet Day (WTD) to break toilet

taboos and draw attention to the global sanitation challenge and the health

implication of two-third of world's population defecating openly. Participatory

discussion sessions, facilitated by environmental health unit personnel of local

governments, were held in five localities during which 253 persons were

mobilized to promote safe defecation in their communities.


Government on Social Mobilization, Mrs. Victoria Amu canvassed equal

opportunities for women, especially in appointive and elective positions. She

said extant laws which prohibits discrimination against women must be

enforced to enable them actualize their dreams and aspirations in life.

Integration of Social Education with Microfinance Services

As a community development driven organization, LAPO has fully integrated

social education with its microfinance services. The beauty of the programme is

that microcredit clients are also empowered with social information during

regular branch council and union meetings. During the year, LAPO reached out

to 33,217 persons under the integration programme with 25,840 of them as

women representing 77.8% of the total persons empowered. Issues discussed

include:

- Participation,

- Leadership and Decision making,

- Widowhood Rite and Inheritance,

- Teenage Pregnancy,

- Child Marriage,

- Domestic Violence,

- Female Trafficking,

- Prostitution,

- Rape,

- Divorce/Separation and

- Self-Esteem, etc.

Gender Equity and Social Justice

In 2013, LAPO promoted gender equality and tackled violence against women.

Our goal was to bring about changes that will help to reduce gender based

discrimination and violence against women. Gender Equity and Social Justice

events and activities for 2013 are as follows:

International Women's Day Celebration

International Women's Day (IWD) is celebrated on March 8 yearly, to appreciate

and recognize the economic, political and social achievements of women

globally. LAPO marked the event with solidarity rallies and seminars across the

country with over 618 participants. In a paper titled: “The Corner Stone

Becoming the Builder's Strength.” Special Adviser to the Edo State

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28 2013 Sustainability Report LAPO Microfinance Bank Ltd

LAPO Commemorates International Women’s Day

Micro Business Management Training

LAPO strengthens the capacity of micro-business owners with her business

management training programme. About 1,021 persons benefitted from the

exposure programme during the year. Topics discussed include business

planning and management, marketing, expenditure and pricing, customer

relation and record keeping.

LAPO Outstanding Women Leadership Award

LAPO has over the years worked for the recognition of women's contribution to

societal development. In 2013, it instituted the LAPO Outstanding Women

Leadership Awards which honours and celebrates women who have

distinguished themselves in their various business organizations with

sustainable social impact. The beneficiaries of the 2013 maiden edition of the

awards are Bawa Victoria Kuchume, the CEO of Jinji Integrated Services Ltd,

Abuja, Princess (Mrs.) Katherine Aiyevbekpen Oronsaye, founder of Oronsaye

Orphanage Home in Benin City and Mrs. Grace Idaehor Osakue, the

coordinator of Girls Power Initiative (GPI) and principal of Asoro Grammar

School, Benin City. They won the awards under Business, Public Life and

Professional categories respectively.

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LAPO Micro Business Management Training: Deborah Guzo receiving certificate of

participation from Godwin Ehigiamusoe, LAPO MFB CEO

LAPO Adult Literacy Programme

LAPO believes that integrating functional literacy with credit services will

enhance women's ability to control their income. Under its adult literacy

programme, the organization equipped eight illiterate women with basic

reading and writing skills during the year. A lot of them were hitherto denied

access to formal education.LAPO Outstanding Women Leadership Award recipients with MD and wife


Social Change Advocacy

There are various programmes for Social Change Advocacy in 2013. The

programmes are as follows:

LAPO Annual Development Forum

The 20th edition of the LAPO Annual Development Forum was held in

November 2013 under the theme, “Ending Extreme Poverty in Nigeria: Issues

and Way Forward.” The Forum drew over 106 participants from the civil society,

government, academia and women groups who dissected the papers

presented by Professor R.A. Anao of the Benson Idahosa University and Dr.

Henrietta Agun, Executive Director, Women Action Initiative, who spoke

respectively on Value Reorientation: Tool for Addressing Poverty in Nigeria and

Role of Public-Private Partnership in Poverty Reduction in Nigeria. In a 10-point

communiqué issued at the end of the deliberations, the forum recommended

steps to achieve societal development, justice, peace and prosperity in Nigeria.

Bridging-The-Gap (BTG) TV Programme

In 2013, LAPO drew public attention to issues in development via its popular

30-minute weekly BTG TV programme. The 52 editions of the programme aired

on Independent Television (ITV) Benin City, during the year featured discussions

on security challenges, affirmative action for women, youth and enterprise

development, health sector reforms and economic empowerment. BTG is

increasingly gaining popularity as an advocacy tool through which nagging

social problems are put on the front burner for public discourse.

The Isekhure of Benin Kingdom, Chief Noahkare Isekhure,

making contributions during the 20th Annual Development Forum organized by LAPO

Sabina Idowu-Osehobo (l) with guest,

Jane Osagie on a Bridging-The-Gap (BTG) TV show

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LAPO-In-Focus Radio Programme

During the year, the LAPO-In-Focus radio programme was aired on Bronze

101.5 FM station in Benin City to increase access to development information as

well as strengthen grassroots voices. Issues addressed with the 26 editions of

the programme in 2013 include women's rights, water and sanitation,

governance, agriculture, economic empowerment, safe motherhood, teenage

pregnancy, early marriage, food and nutrition.

Communication for Development

LAPO reinforced social and health education campaign amongst clients during

the year with her culturally sensitive Information, Enlightenment and

Communication (IEC) materials. In 2013, two editions each addressing Health

Awareness and Gender Empowerment were published and distributed

amongst clients and communities. The publications addressed issues in

HIV/AIDS, gender inequity, property inheritance rights, maternal and infant

health and micro-business management. Handbills on environmental

preservation/flooding were also distributed during the year.

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Christiana Ukpebor: “I Have Realized My Dream”

No of Children: Seven

State of Origin: Edo State, Nigeria

Location: Benin City

Year joined LAPO: 1993

LAPO Branch: Benin 1

Union: Eghosa 1

Business: Trading in Foodstuff

Mrs Christiana Ukpebor's main purpose of engaging herself in foodstuff

business from the very beginning was to enable her raise sufficient funds to

support the welfare and educational development of her seven children.

Denied access to basic education due to poverty and archaic culture, she was

determined to give her children the best “so that they can become great and

successful people in future.”

Today, she is happy that this aspiration has been fulfilled. She has been able to

give most of her children university education with good jobs. Amongst them is

Mr. Victor Ukpebor, a staff of LAPO in Ogbe Branch, Benin City. She is also a

proud owner of a large expanse of land where she is currently building a house

that will serve as her permanent place of residence.

Mrs Christiana Ukpebor attributes the successful realization of her childhood

dream to the support of LAPO over the years. Her first LAPO loan in 1993 was

N5,000 The promptly repayment of the loan necessitated the disbursement of .

her second loan of N10,000. As usual, she went into village markets with her last

loan of N200,000 to purchase a variety of food items in large quantity for sale in

the city at higher rates. In 2013, LAPO rewarded her with a giant refrigerator as

one of the oldest and active clients.

Before LAPO revived her petty foodstuff business, she said her entire household

depended on her husband's meagre income. “Increase of my contributions to

servicing the family budget,” she says, “gave me greater voice and recognition in

the home.”

On the whole, Mrs. Christiana Ukpebor enjoys her relationship with LAPO and

express appreciation for other benefits that have accrued to her by virtue of her

membership. “LAPO has made a great impact in my life and family. I

probably would have been forced to relocate to my village out of hunger and

poverty by now if not for the support of LAPO,” she declares.

Our Impact: We don’t only provide Financial and Social Services but also engage qualified Clients’ Children with job opportunities.



The clients' demographic statistic reveals a negative increase in the number of

male clients from 239 (9.2%) in 2012 to 172 (12.2%) in 2013. In contrast, female

membership (87.8%) dropped by 3% from the previous year (90.8%).

The age structure and composition shows that over 73.1% of LAPO's clients are

within the ages 29 – 50. By implication, LAPO clients are very active since this

fall within the active labour age of any country. Also as clients' age progresses,

the number of client above 50 years diminishes suggesting that ageing clients

retire or dropout of the credit programme.

Table 2: Poverty Indicators


The LAPO impact assessment is an evaluation of the Bank's financial and social

service contributions towards poverty reduction amongst its clients. As with

every impact assessment, a pre (2012) and post (2013) evaluation were

conducted to ascertain the changes in poverty reduction of sampled clients.

The impact assessment was conducted across LAPO operational regional

offices: Abuja, Alimosho, Calabar, Delta, Edo, Enugu, Ibadan, Ikorodu, Kano,

Lokoja, Ondo, Osogbo, Port Harcourt and Surulere.

A total of 1,411 clients were interviewed from the selected branches. LAPO's

participation and loan application forms with poverty indicators were used to

assess the poverty status of client at entry point, changes in loan cycles and exit

from the credit programme. Quantitative data were generated to explicate the

contributions of social empowerment programmes on clients' welfare.

The 2013 impact assessment of LAPO clients captured 60% (1,411) of the total

sampled clients (2,596) investigated the previous year. The reduction in sample

size is largely attributed to client's relocation. Findings from a recent study

(Clients Unmet Service Needs, 2013) indicate that relocation (42.6%)

constitutes one of the major reasons for client attrition. The table below shows

the socio-demographic characteristics of LAPO clients.

Table 1: Socio-demographic characteristics of LAPO Clients

Sex:�� Male

� � � Female

Total

Characteristics2013

Frequency Percentage (%)

2012


172

1239

1411

12.2

87.8

100.0

239

2357

2596

9.2

90.8

100.0

Age:� � � 18-28

� � � 29-39

40-50

51-61

Above 62

Total

77

480

551

165

39

1312

5.5

34.0

39.1

11.7

2.8

100.0

51

2320

225

0

0

2596

51

89.4

8.7

0

0

100.0

HouseholdMembership: �TwoThreeFourFiveSix or seven� � �Eight and aboveNo Response

Total

Characteristics2013


2012


50 �11651804652620

1411

3.5 �8.236.7033.018.60

100.0

0 �000348

8140

2596

0 �00031.455.213.4

100.0



No. of householdmembers in school:Not at allNo. of children aged 6-18All

Total

Type of flooring

material:

Earth/mud or

dirt/straw

Wood, tile, plank,

concrete or others

Total

Type of roofingmateria: Mud/mud bricksThatch (grass or straw)Wood/Bamboo,corrugated iron,sheet, cement/concrete,roofing tiles or others

Total

Main source ofdrinking water:Unprotected well/rainwaterVendor, truck, protected well, river, lake, or pound Treated pipe-borne water, borehole/handpump or others

Total

271 �302838

1,411

127

1,284

1,411

3917

1,355

1,411

132

308

973

1,411

19.221.459.4

100.0

9

91

100.0

2.81.2

96

100.0

9.4

21.7

69.0

100.0

631�6951270

2596

156

2440

2596

1222

2562

2596

223

582

1791

2596

24.326.848.9

100.0

6.0

94.0

100.0

0.50.8

98.7

100.0

8.6

22.4

69.0

100.0

Type of toilet:Pail/bucket, coveredpit latrine, ventilatedimproved pit latrine,other or noneToilet on water, orflush to sewer orseptic tank

Total

Household

ownership of TV:

Yes

No

Total

Household ownership of radio:

Yes

No

Total

Household ownership ofmattress/bed:

Yes

No

Total

Household ownership of stove:

Yes

No

Total

604 �

807

1,411

1267

144

1,411

1092319

1,411

1369

42

1,411

1288

123

1,411

42.8

57.2

100.0

89.8

10.2

100.0

77.422.6

100.0

97.0

3.0

100.0

91.3

8.7

100.0

1294�

1302

2596

2219

377

2596

1958638

2596

2489

107

2596

2292

304

2596

49.8

50.2

100.0

85.5

14.5

100.0

75.424.6

100.0

95.9

4.1

100.0

88.3

11.7

100.0



Fig 1| Impact of LAPO Microfinance Services on Client Poverty Status

This reduction in poverty status is strongly linked to LAPO 2013 branch

expansions, introduction of customer friendly loans and savings products.

Unlike 2012 impact, female clients witnessed 43% more poverty reduction than

their male counterparts. Also, about 3.8% of the women shifted back from

average poor to the poorest. These were women who became victims of the

ecological disasters, government urban renewal drive, and loss of business to

fire etc.

The 2013 impact assessment also revealed that LAPO's financial and non-

financial programme increased the income and social status of its clients. The

impact of micro-credit on the clients´ poverty status was very significant such

that about 86% of clients moved from the rank of poorest and poor to less poor

and least poor members of the society. This is significant when compared with

the 71% of members that moved from the rank of poorest and poor to less and

least poor of their communities in 2012. The figure below shows the impact of

LAPO's micro-credit on clients' poverty reduction

Governance

Governance

An effective management of people is of utmost importance to the operations

of LAPO Microfinance Bank. The Bank seeks equal opportunity for all staff,

structured capacity development programme, adequate reward and

performance management. The Bank promotes an environment free from all

forms of harassment, victimization or discrimination on the basis of gender, age,

religion, tribe or race.

The Board of Directors

LAPO Microfinance Bank board of directors is committed to achieving and

maintaining best practices in corporate governance by ensuring accountability

through mechanisms that promote transparency and risk management. The

Microfinance Bank's governance philosophy is hinged on its internal

governance framework, which is executed through the three primary organs:

The Board of Directors, Board Committees and Management Committees. The

Microfinance Bank business is driven by the Board through the activities of its

committees. The Board consists of five Non-Executive Directors and one

Executive Director. One of the Executive Directors is the Board Chairman of the

Board. The Board operates through the following committees:

(1) Credit and Risk Management Committee

(2) Finance and General Purpose Committee

(3) Audit Committee

(4) Environment, Social and Governance Committee

The board ensures that directors possess the skills, knowledge and experience

necessary to fulfil their obligations. The directors bring a balanced mix of

attributes to the board, including: International and local experience;

operational experience; knowledge and understanding of both

macroeconomic and microeconomic factors affecting the Bank; local

knowledge and networks; and financial, entrepreneurial and banking skills etc.

Establishment of Environment, Social and Governance (ESG) Board

Committee

LAPO Microfinance Bank's ESG initiative led to the constitution of the ESG Board

committee. This confirms the Bank's commitment to the Universal Social

Performance Standards and sustainable microfinance. It is also an additional

effort of enhancing social performance and indication of declaration of

commitment to conservation of the environment. The Board Committee was

constituted on the 16th of November, 2012 with the responsibility of reviewing

the Bank's Environment, Social and Governance practices, monitoring

performance against agreed targets and making recommendations to the

Board on Environment, Social, and Governance Strategies. The committee

initially comprises of four members and subsequently increased. As at 31st

December 2013, it comprised of six members as follows:

Osaretin Demuren - Chair (Female)

Godwin Ehigiamusoe - Managing Director (Male)

Moses Ehigiamusoe - Associate Director, Corporate Services (Male)

Cynthia Ikponmwosa - Head, Corporate Affairs (Female)

Kenneth Okakwu - Head, Strategy & Business Development (Male)

Brandie Stevens-Igbe - Head, Environment, Social and Governance

(Female)

The gender composition is 3:3 - a balanced gender composition, that is, three

female and three male members.


Profile of Committee Members


Governance

Osaretin Demuren joined the Board in 2012 and

chairs the ESG committee. She holds Master's

Degree in Economics and Statistics from the

Moscow Institute of Economics and Statistics. She is

a member of the Chartered Institute of Personnel

Management of Nigeria and the Chartered Institute of

Bankers of Nigeria. She had a successful career spanning

of over thirty years at the Central Bank of Nigeria and retired as Director of

Human Resource.

Godwin Ehigiamusoe is acknowledged microfinance

practitioner who began his engagement in rural

finance as a cooperative officer in mid 1980s. He

later founded Lift Above Poverty Organization

(LAPO), a pro-poor development organization. Mr.

Ehigiamusoe has attended capacity enhancing

courses at Lagos Business School, INSEAD Business

School, IESE Business School and Kennedy School of Government. He holds

a Master's degree in Development Studies. He has authored

Understanding NGOs (1998); Poverty and Microfinance (2000) and Issues

in Microfinance: Enhancing Financial Inclusion (2011).

Moses Ehigiamusoe holds a B.Sc (Ed) in Accounting

and Masters in Business Education. He joined LAPO

in 1994 as a Branch Manager and is presently

working as Associate Director, Corporate Services.

He is an Associate member of the Nigerian Institute

of Marketers.

Cynthia Ikponmwosa is a graduate of the Ambrose

Alli University, Ekpoma. She has worked with

Akintola Williams Deloitte, Lagos and she is

secretary to the Board of the Microfinance Bank

and also heads the Corporate Affairs Department.

Kenneth Okakwu studied Sociology at the

University of Ibadan and holds a Ph.D and M.Sc in

Social Demography with special focus on poverty

alleviation through microfinance ser vices,

H I V / A I D S / re p ro d u c t i v e h e a l t h , w o m e n

empowerment, gender, education, governance and

civil society. He taught Sociology briefly at the University of

Benin and has conducted several researches on poverty alleviation,

HIV/AIDS, reproductive health and women empowerment. He has trained

several programme officers in Non-Governmental Organizations (NGOs)

and Microfinance Banks on monitoring and evaluation as well as impact

assessment of microfinance services on clients' socio-economic status and

health seeking behaviour. He is Head of Strategy and Business Development

at LAPO Microfinance Bank.

Brandie Stevens-Igbe holds a Bachelor degree in

Internat ional Tour ism and Human Resource

Management and a Master's degree in International

Tourism and Hospitality Management in London. A

highly motivated professional, Stevens-Igbe brings

with her a wealth of experience in customer service

with special ized ski l ls in sustainable tourism

development, organizational sustainability, events planning

and management as well as strategic development and execution.

ESG Committee Terms of Reference

ESG committee terms of references is design to address the environment,

social and governance indices that would support and promote LAPO

sustainable banking practices without leaving any recognised and

unrecognised consequence on LAPO's target market or the entire

environment. The ESG terms of reference are stated below:

1. Periodically review the vision, mission and institutional values, of LAPO

Microfinance Bank's polices and practice as it relates to environment, social

and governance objectives and review compliance against agreed target

by the Bank.

2. Keep under review, the individual elements of the overall Environment,

Social, and Governance Management (ESGM) strategy with respect to

Community, Environment and Workplace, including and not limited to,

reviewing at least once a year the following policies:

Social Performance Policies (Client Protection, Microfinance Universal

Social, Performance Standards).

Environmental Protection and Conservation Policies.

Health and Safety Policies.

Gender and Diversity Policy.

Corporate Social Responsibility.

3. Advice the Board on Environment, Social, and Governance Management

(ESGM) strategies and policies and ensure that the recommendations are

in compliance with the implementation of these policies.

4. Review its own performance, constitution and terms of reference to ensure

it is operating at maximum effectiveness and recommend any change it

considers necessary to the Board for approval.

5. Keep under review internal and external ESG communication.

6. Engage local and international liaison on Environmental and Social

activities.

Staff Welfare

LAPO Microfinance Bank has always placed high premium on staff welfare in

terms of policy and actual practice which is hinged on the central belief in the

understanding of the importance of staff in pursuance of organizational goals.

The Microfinance Bank goals are achieved through its people who share a

common identity and a strong desire to excel. Alignment of organizational

goals and desires of staff is a strategy that ensures team work, mutual

satisfaction and excellent performance. Staff satisfaction is better ensured

through continues review and modification of policies and procedures. The

Bank conducts Staff Satisfaction Survey on annual basis; information generated

from the process is analysed and imputed into existing processes to ensure an

efficient operational policy that meets the needs and welfare of staff. The

provision of an enabling environment for the practice of good staff welfare

system was demonstrated in renaming Human Resources to People

Management in referring to the workforce as people rather than tools or factors

of production. Some welfare practices in place in LAPO are highlighted as

follows:

Reward and Incentives

LAPO Microfinance Bank has a number of incentives to attract, reward, develop

and retain staff for the achievement of its business objectives. The reward policy

is based on contribution by staff which could come in form of promotion,

institutional bonus and performance bonus. In 2013, a total of 443 staff were

promoted as a result of hard work, commitment and dedication to duties. Based

on the bank's performance for 2012, institutional performance bonus was paid

Governance


to all staff in 2013. In addition to the institutional performance bonus, a total

sum of N59.3 million was paid to 1,523 Client Support Officers as incentive for

massive clients' recruitment in 2013.

Treatment and Protection/Insurance

LAPO Microfinance Bank ensures strict compliance with regulations regarding

staff welfare, creation of conducive working environment and offers very

competitive and performance based remuneration. Pension and insurance

benefits are also provided for all staff, such as the Combined Employers Liability,

Group Personal Accident and Group Life Insurance. The combined effect of this

is that each staff is covered for injury and or death arising out of and or in the

course of work. The Bank ensures that staff are aware of health and safety

regulations and the need to report all accidents to appropriate authorities.

There exists staff complaint/grievance policy and procedure designed to deal

with disputes effectively and resolve such issues in a constructive and effective

manner, thereby reducing the risk of future occurrence. This policy reinforces

the institution's commitment to provide a safe and amicable workplace for all

employees.

Training and Capacity Development

LAPO Microfinance Bank has annual training plan for employees which cover

structured training programmes tailored to specific job roles and specialized

trainings as the need arise. With total staff strength of 3,184 in 2013, 2,345 staff

received training in various fields of the Bank activities, representing 73.7% of

total staff strength. In addition to provisions for training and development of

staff, the Bank also contributes to training and development of Nigerians who

are in various tertiary institutions of learning through acceptance of students on

Industrial Training for specific periods ranging from 3 to 12 months period. The

students are also supported financially for the period of the training. This is in

addition to payment of training contributions to the Industrial Training Fund.

The LAPO/AFOS multifaceted capacity development project which focused on

Management Trainee Graduates, Invited Staff and Guest at the Graduation Ceremony of Management Trainees

enhancing LAPO's capacity to effectively and efficiently manage its anticipated

exponential growth graduated 9 management trainees after a 12-month

programme. The programme, unveiled in October 2012, exposed trainees to

top management and leadership principles and practices designed to equip

them to face challenges of managing financial institutions. The graduation

ceremony was held on the 19th of November 2013 at Best Western Hotel. A

Talent Pool Management programme designed to identify and develop staff

with demonstrated potentials for higher responsibilities was launched at the

event; 25 staff members have commenced the program which is expected to

run for a period of over 12 months. The Talent Pool Management Program will

focus on providing a combination of managerial competency and right values

required for superior corporate performance.

Governance


Summary of LAPO MFB 2013 Staff Satisfaction Survey Report

Employee retention and satisfaction are important concerns for any

organization. Organizations that can create highly motivated work

environments attract and retain hard-working individuals; and are better

positioned for success in a competitive business environment that demands

cost-efficiency and quality. Considering the growing workforce in LAPO

Microfinance Bank, management is committed to ensuring that all employees

are motivated to contribute to the overall success of the Bank. The Microfinance

Bank staff satisfaction survey is expected to generate the information required

to inform management decisions appropriately.

Survey Objectives

The broad objective of the Staff Satisfaction Survey is to provide top

management of LAPO Microfinance Bank with specific issues affecting

employee satisfaction. The purpose of the survey is to:

- Identify job satisfaction levels

- Measure employees' perception of the work environment

- Identify areas of strength and opportunities for improvement

Methodology

Survey Development Team

The survey was developed by the Research and Publication Unit at LAPO

Institute for Microfinance and Enterprise Development (LIMED) with technical

support from the Strategy and Business Development Unit at LAPO

Microfinance Bank. Following a review of the existing literature and a contextual

analysis of LAPO Microfinance Bank, the survey design, sampling method and

size, and the structure of the data collection instruments were determined. The

research team set a response benchmark of 70% as healthy for the survey.

Survey Design and Study Area

The scope of the survey covers employees of LAPO Microfinance Bank

excluding employees of its sister organizations. The survey adopts a descriptive

research design and employs quantitative as well as qualitative data collection

techniques. This is also backed by the idea that some elements of satisfaction

are better described than quantified. The survey was designed for all categories

of employees to deliver robust quantitative measures and also elicit quality

insight. The survey was carried out in the 14 LAPO regions. While the

quantitative survey was conducted across all 14 regions, the qualitative survey

was spread across 4 regions: Abuja, Edo, Enugu and Lagos.

Sampling Techniques and Sample Size

Overall, multi-sampling techniques were adopted for the sampling of regions,

branches and employees. For the qualitative survey, sampling at the head office

was done by stratifying employees into management, senior and junior staff. At

the regional level, stratified sampling was employed in selecting regions

according to the Nigerian geo-political zone classification. Lagos (Ikorodu

region) was selected for the South-West; Enugu (Enugu region) for the South-

East; Abuja for the Central and North-West, and Edo region for the South-

South geo-political zones respectively. Branches were randomly selected from

the list of all branches in the region. Regional employees were selected by

stratifying employees into field supervisory officers – Regional managers, Area

Managers, Branch Managers, Client Relations Officers; Field Officers (Client

Support Officers), Loan Officers, Special Loan Officers; and others – MIS. On the

other hand, the quantitative survey covered all regions. Branch selection and

employee selection were same as the qualitative survey.

Data Collection Technique

Primary and secondary data were obtained from the Head Office, Regional

Offices and Branches. Primary data were collected through a structured staff

satisfaction questionnaire (quantitative) and structured in-depth interviews

(qualitative). The data collection instruments were designed based on the

criteria that they are easy to read and understand, concise and easy to


complete, and that they measure specifics of the employee's work environment.

The questionnaire includes 21 sections generating both quantitative and

qualitative information for satisfaction analysis. The first 2 sections provide

information on employee demographics - employee unit/department, current

rank, current position, gender and their length of service. The next 13 sections

contain question which capture the 10 satisfaction concepts identified in the

Herzberg's motivation theory. The final 6 questions cover employee retention

as well as employee overall satisfaction with LAPO as well as their job.

Respondents expressed their level of agreement using a three point scale -

Agree, Neither Agree nor Disagree and Disagree OR Satisfied, Neither Satisfied

nor Dissatisfied and Dissatisfied - to compute the rating index on each of the

indicators except for question nine that required a YES or NO response. The

interview survey guide was designed to obtain a descriptive perspective of

factors that influence LAPO employee satisfaction.

Data Analysis

Qualitative data (in-depth interviews) were analyzed using content and context

analyses. Quantitative data (questionnaires) were analyzed using frequency

distribution, percentages and cross-tabulation to identify staff satisfaction levels

and establish the relationship between employee characteristics and

satisfaction levels. The analysis was done with the Statistical Package for Social

Sciences (SPSS). A total of 1400 survey questionnaires and 168 interview

responses were analyzed in this report.

Ethical Consideration

All ethical considerations guiding the conduct of social investigation were fully

observed. Participants were fully informed of the purpose of the research and

their consent duly obtained. All respondents were treated anonymously to

avoid confrontations and reprisals from colleagues or superiors.

Limitations of the Study

The survey did not capture the entire work group of the organization.

Consequently, all inferences in this report reflect only the result from the

stratified sampling. It used three-scale and two-scale measures to assess

employee satisfaction. It cannot be ruled out that a more sophisticated

measurement approach (with more scale items) would have resulted in higher

correlations, given that low reliability may attenuate correlations between the

variables.

Findings

A satisfied employee is a productive employee and therefore crucial to the

success of any company. The procedures for addressing employees' grievances

and satisfaction have consistently emerged as a crucial factor that determines

the image of an organization. Several internal and external factors can influence

employee job satisfaction, and these factors are susceptible to change over

time. These fluctuations could be attributed to changes within the workplace as

well as economic, demographic and social trends. Although there are many

factors that can influence employee job satisfaction, only two of those factors

were above 70% (on the average) among the top five contributors to employee

job satisfaction. Giving the state of the Nigerian economy, none of these aspects

of employees selected as the top five contributors to their job satisfaction was a

surprise. Responsibility (66.7%) which requires giving employees enough

freedom and power to carry out their tasks so that they feel they “own” the

result was at par with Work itself (66.7%). Other aspects that rounded off

employees' top five factors contributing to job satisfaction were:

- Company and administrative policies (72.2%).

- Relationship with immediate supervisor (67.5%).

- Interpersonal relationship (67.1%)

- Achievement (74%)



The Importance of Findings to LAPO Microfinance Bank

One of the top contributors to job satisfaction and engagement among LAPO

employees is having the opportunity to use their skills and abilities at work. With

such organizational support for training/retraining and further educational

pursuit, employees with time develop skills and abilities beyond the position for

which they were hired which will create room for a higher job position. People

Management should sustain training/retraining and educational pursuit of

employees to fill positions that require higher skill levels. This will then open up

positions that require lower skill levels in the bank and will be easier to fill.

Besides, it will in turn, make them more valuable, more fulfilled professionally

and satisfied. It is obvious from the outcome of the result that employees value

their connection with management, and are looking forward to building on this

relationship beyond the present level. This will in the long run increase

employee level satisfaction, engagement and productivity.




University Scholarship Beneficiaries 2012/2013 Academic Session

S/N Name of Candidate Sex Name of University Course of Study Region/Branch Client Name/Union

1. Abraham Joseph Uzoma M Federal University of Fishery and Agricultural Alimosho/Egbeda Nkechi Abraham/

Technology, Akure Technology Virtuous Women

2. Adegbulugbe Theophilus M University of Abuja Banking & Finance Ikorodu/Ikorodu 2 Adegbulugbe

Adebiyi Olanrewaju/Ayomikun

3. Adeniyi Israel Oluwaseun M University of Ilorin Human Kinetics & Alimosho/ Igundo Adeniyi Elizabeth/

Health Education Unique

4. Adenugba Biodun M UNIBEN Drama/Dramatic/ Alimosho/ Itire Shola Adenugba/

Emmanuel Performing arts Isokan

5. Akanni Olamide M University of Ibadan Law Ibadan/Saki Kola Ogunwale/

Zacheaus Mayowa

6. Amuta Chibuzor M Ambrose Alli University Electrical /Electronic Alimosho/Egbeda Blessing Amuta/

Emmanuel Ekpoma Engineering Possibility

7. Augustine Esther M University of Nigeria Philosophy Alimosho/Ejigbo Augustine Chiwendu/

Onyiyechi Nsuka Love

8. Awoneye Temitop M Lagos State University, Electronics & Alimosho/Ayobo Mosun Awoneye/

Abayomi Ojo Computer Engineering Iremide

9. Aworetan Yetunde F University of Ibadan Psychology Alimosho/Ajah Folake Aworetan/

Convenant


LAPO MFB

Scheme

10. Ekeamadi Godsgift F Fed. University of Tech. Mathematics Alimosho/ Babagry Grace Ekeamedi/

Ugonna Owerri Advancement

11. Ekwedi Samuel Omoefe M Niger Delta University Mechanical Alimosho/Alaba Mary Ekwedi/

Engineering Godslifting

12. Ikerionwu Vivian Anulika F Michael Okpara Biochemistry Alimosho/Ajegunle Ebere Ikerionwu/

University of Agape

Agriculture, Umudike

13. Ikyaan Mariam F Benue State University, English language Lokoja/Gboko 1 Ikyan Esther/

Nguumbur Makurdi Ngueom

14. Ita Victor Mfon Abasi M University of Benin Elect/Elect Alimosho/Ikotun Love Ita/

Progress Friend

15. Kosebinu Adewunmi F Lagos State University, Insurance Alimosho/Epe Folake J. Kosebinu/

Busola Ojo Owoloja

16. Kotoye Elizabeth F Ekiti State University Microbiology Alimosho/Ikotun Kotoye Ruth/Honey

Oluwadamilola

17. Mohammed Rashidat F Lagos State University Political Science Alimosho/Igundo Mohammed

Education Olufunke/Oluwaseyi

18. Momoh Sherrif M Ambrose Alli University Science Education Edo/H/O Indigent

Ekpoma

19. Nelson Dorglo Vanessa F Ambrose Alli University Microbiology Alimosho/Egbeda Helen D-Tordzro/

Eseohe Ekpoma Victory



LAPO MFB

Scheme

20. Ogiri Emmanuel M Kogi State University Law Lokoja/Idah Ogiri Cosmas/

Wisdom

21. Oladepo Ronke Dorcas F Obafemi Awolowo Pharmacy Ibadan/Saki Moses Oladepo/

University, Ile Ife Temitope

22. Olaitan Abdulqauri M University of Lagos Education & Integrated Alimosho/Igundo Bisi Olaitan/

Adeshina Science Anu-Oluwapo

23. Oloniyo Bamidele M University of Agriculture, Food Sc. & Technology Lokoja/Omuo Ekiti Olorundare Sunday/

Makurdi Arise & Shine

24. Omikunle Aminat Modupe F University of Lagos Microbiology Surulere/Agege Romata Omikunle/

Ikeoluwa

25. Omodara Gbemisola F Ekiti State University Business Administration Alimosho/Igundo Joke Omodara/

Temitope Sweet Mother

26. Omoleke Adeniyi Ezekiel M University of Lagos Banking & Finance Alimosho/Igundo Omoleke Gbemisola/

Irewolede

27. Omoregie Precious F University of Benin Political Science & Edo/Sapele Rd. Omoregie Stella/

Eronmwon Public Administration Ekinadese 2

28. Ozemoya Leonard Umoru M University of Benin Microbiology AlimoshoJonathan Justina/Morning Star

29. Saka Oluwatosin Ayobami F Ekiti State University Biology Alimosho/Agbara Toyin Saka/Peace

30. Udeji Grace Chidima F UNIBEN English Language & Lit. Alimosho/Egbeda Florence Udeji/

Possibility



LAPO MFB

Scheme

LAPO MFB

Scheme


S/N Student’s Name Sex Class Client Name Union Name Bank Name

1. Abdul Mumeen Balogun Rukaya F JSS 2 Esther Ibrahim Grace Lokoja 1

2. Abdul Waheed Toheeb Alaba M JSS 3 Ilori Mariam Ajijola Oyo 1

3. Abe Ifeeoluwa Oluwadusin M JSS 3 Abe Caroline Ilosiwaju Oke-Ijebu

4. Abiara Rodah F JSS 3 Abiara Mary Victory Ogbomosho 1

5. Adam Joy Friday F JSS 3 Lydia Tom Inyene ObongIkpo-Abasi

6. Adams Ignatius F JSS 2 Comfort Ebhodagbe Jattu Edo

7. Adebanjo Abdulahi Tobi F JSS 3 Adebanjo Adeola Still Alive Epe

8. Adebiyi Kaosarat F JSS 1 Adebiyi Yinka Emmanuel Odinjo

9. Adebolanle Adelegan Mary F JSS 1 Oluwaseun Akure

10. Adeiza Ahuoiza Hikmat F JSS 3 Zainab Adeiza Prosperity Lokoja 1

11. Adeleke Oluwadamilola F JSS 2 Laoye Cecelia Irewolede Ede

12. Adeoye Oluwaseun M SSS 2 Iyabo Oseni Endurance Dugbe

13. Adepoju Ridwan M JSS 3 Folashade Adepoju Omoluabi Obelawo

14. Aderemi Boluwati Ezekiel M JSS 1 Olumide Sadia Agbara Olorun Iwo Road

Secondary School Scholarship Beneficiaries 2012/2013 Academic Session



15. Aderinde Abiodun F SSS 3 Oderinde Folashade Opeleke Oke-Ila

16. Adeshina Adeola Esther F JSS 3 Adeshina Adeola Dolapo Oro

17. Adetunji Oyindamola Sukurat F JSS 1 Salura Adetunji Modupe Bodija

18. Aemoh Glory M SSS 1 Angela Agemoh Osa Agbara

19. Afolabi Odunayo M JSS 2 Afolabi Mary Irewolede Oke-Ila

20. Agboade Adebukola Damilola F JSS 1 Wumi Olatunbosun TanimolaIyana Church

21. Aigbe Susan F JSS 2 Cream Crest Sec. School Indigent Student

22. Aigbikor Gloria F JSS 1 Amy Day Junior Sec Sch Indigent Student

23. Aigbogun Destiny M SSS 1 Ugha/Obaegie Mix Sec. Sch Indigent Student

24. Aina Babatunde Abdulrahmon M JSS 2 Alice Aina Ola-Oluwa Isolo

25. Aina Olamide Folasade Mary F JSS 1 Florence Ayinno Marvelous 2 Oke Ado

26. Ajayi Olusola M JSS 1 Ronke Olopade Iretiayo Ife 1

27. Ajibade Yetunde Karimot F JSS 3 Ganiyat Musibau Olorundara Moniya

28. Akeredolu Olaitan Olumide M JSS 2 Akeredolu Alice Moyi-Oluwa Ife 1

29. Akeremale Oluwafeyisala Oluwapo M JSS 2 Akere Male Trust In God Shasha

30. Akinsanya Olumide S. M JSS 2 Oluke Lawal Orelope Oke-Odo


LAPO MFB

Scheme


31. Akinshola Yemisi F JSS 2 Akinsola Olusesi Ogometalokun Itokun

32. Akinyemiju Celestinaah Iyanu F JSS 3 Oyelere Emily Oluwa-Seun Ile-Oluji

33. Akomolafe Ifeoluwa Vicent M JSS 3 Mary Kayode Oluwaseyi Ado 1

34. Akomolafe Oyonorifo Courage M JSS 3 Akomolafe Florence Egbe-Ayo Ikare 2

35. Akpan Nsikak JSS 3 Akpan Ime Ifokanbale Gbagada

36. Akpomedaye Peter M JSS 2 Mercy Uwoyo Dinine Blessing Warri 4

37. Aku Moses Achimugu M JSS 2 Victoria Aku Ogechukwu Idah

38. Alozie Nkechi Nkeiruka F SSS 1 Celestine Alozie Mercy Sabon Gari

39. Amusat Victor M JSS 3 Amao Kemi Temitope Ogbomosho 1

40. Amuwa Akereja Adeola M JSS 2 Temidayo Akugba

41. Angilaje Champion Damilola F JSS 2 Kemi Arigilaje God's Grace Challenge

42. Anyanwu Adaeze Thelma F JSS 3 Blessing Anyanwa Gold Egbeda

43. Aransiola O Demilade Samuel M JSS 2 H/O Indigent Student H/O

44. Aribiyi Janet Taiwo F JSS 3 Adebayo Yinka Progressive Old Ife

45. Arinze .J. Chisom F SSS 1 Kenneth Ariaze Ife-Adigo Orji

46. Asadu Amara M. F JSS 2 Asadu Kate Divine Success Nnewi


LAPO MFB

Scheme



47. Ashaolu Bukunyi F SSS 2 Asaolu Dorcas Isegun Ilorin 3

48. Asuquo Victor Bassey M JSS 2 Bassey Asukwo Nka Eno Harcourt

49. Avwaekerho Esther Elrowiyor B. F JSS 1 Grace Oyokeigho Elohor Warri 3

50. Awe Ayomide F SSS 2 Ademola Joseph Imole-Ayo Ife 2

52. Ayo Gift Enang F JSS 1 Faith Peter Idoreyin Marian

53. Ayodeji Ezekiel M JSS 2 Ayodeji Samson Odetola tosin Ila-Oragun

54. Ayodele Deborah Akokede F SS 1 Adegboye Abimbola Alasepe Akure 2

55. Azeez Abiodun Kibirat M JSS 1 Alalade Banke Prestige Oke-Aro

56. Balogun Habbeebat Abosede F SSS 2 Folashade Akinyemi Ireti Oluwa Aja

57. Bashorun Rodiyat Boluwatife F JSS 3 Basirat Bashorun Mercy Of God Alagbado

58. Bello Temiloluwa Kikelomo F JSS 1 Moraieke Osahinyemi Sound Ejigbo

59. Ben Chukwuebuka Prosper M JSS 1 Happiness Henry Chgozirim Rumuokoro

60. Boboye Joshua Oluatosin M SSS 1 Esther Oyinade Oluwa-Kemi Akure 2

61. Chukuyenu Benicy F SSS 3 Felix Emobu Confidence Oka

62. Chukwu Godwin Ejike M JSS 3 Blessing Chukwu Akachukwu Emene

63. Daniel Oisemokhai F JSS 1 Fumi Hassan Hope Kakuri

LAPO MFB

Scheme


64. Danjuma Jemimah Zobada F JSS 3 Mercy Sabo Glorious 2 Nasarawa

65. Duru Stanley I. M JSS 2 Onyinyechi Duru Early Breed Auchi

66. Ebalumenta Godswill W. M JSS 1 Margaret Ebalumenta Better Life Aduwawa

67. Ebeli Goodness F JSS 3 Augustina Ebeli Excellent 1 Rumuokwuta

68. Ebiakofa Maria Ebimo F JSS 1 Maria Ebiakofa Oshimili Asaba 1

69. Ebo Andrew Ugochukwu M JSS 2 Chinwe Ebo Blessed Women Woji

70. Edewor Angela Uzoezi F JSS 2 Word of faith group of Sch. Indigent Student

71. Edogiawerie Uwaila F SSS 1 Grace Esemwengie Aizeyosabo Oko

72. Egeonu Ruth Chinyere F SSS 1 Helen Okereke God's Grace Okoko

73. Eguabor Paschal Daniel M JSS 1 Ifeanyi Egwabor Ihienrima Agbor 2

74. Ehigiator Dinasty M JSS 2 Amenze Etinosa Faithful Oka

75. Ehiozee Nekpen Victory F SSS 3 Alpha High Sch Uselu Indigent Student

76. Emegha Mildred Chukwuedum F SS 1 Beatrice Emegha Chinedu Ikeja

77. Emuavobor Faith Omonigho M SSS 2 Margeret Emuobor Winning Woji

78. Eniola Olalekan Oluwapelumi M SSS 2 Kolapo Kehinde Ini-Oluwa Bodija

79. Enwezor Obiora Maclean M SSS 1 Convenant Christian Indigent Student

Academy


LAPO MFB

Scheme



80. Eruah Justina F JSS 2 Joseph Eruah Eghosa Ugbowo 2

81. Esedebe Onyiyechukwu Vera F SS 2 Esedebe Emeka Mary Akute

82. Ewuru Pryanka Munachiso F JSS 1 Chinyere Ewuru New Era Orlu

83. Ezekwe Joy Chiamaka F JSS 3 Austine Azekwe God's Grace Mokola

84. Felis Doris Miere F JSS 3 Maria Kabakeme Social Gboko 1

85. Felix Chukuwike Emmanuel M JSS 2 Veronica Agbanenu Olorun-Tobi Owo 2

86. Gaiya Micheal M SSS 1 Dorathy Abraham Exortic Barnawa

87. Grace Akpobome F JSS 3 Young Akpobome Okada Edo

88. Hamusa Nurudeen F JSS 2 Taiwo Hamusa Godday Owode

89. Hamza Zeenah Temiloluwa Bukola F SSS 1 Isma Hamza Hadinkay Hotoro

90. Hezekiah Stephiner F SS 1 Akporube Hezekiah Emovon Enuru Oleh

91. Ibitoye Oluwatosin Celestinah F JSS 1 Ibitoye Bunmi Ifedapo Ikole-Ekiti

92. Igbineweka Festus O. M JSS 2 Patience Olaye Destiny Benin 2

93. Igwe Daniel Chima M SSS 1 Igwe Ikechukwu Favour Nnewi

94. Igwe Theresa Oluchukwu F JSS 1 Mary Igwe Idinofu Amuwo

95. Ileasanmi Racheal F JSS 1 Ilesami Adenike Irewolede Ogo-Oluwa

LAPO MFB

Scheme



96. Inyang Destiny M JSS 2 Anthony Inyang Blesed Oko

97. Isiekwene Anslem M JSS 1 Stella Ikem Unity And Peace Ogwashi-Uku

98. Isu Samuel Tochukwu M JSS 2 Eucharia Esu Chikwado Ogoja

99. Iyiola Oluwatobiloba M SSS 2 Bibitayo Orosola Ife-Oluwa Gbongan

100. Jaiyeola David F JSS 2 Josephine David Long Life Lokoja 2

101. John Michah Ita F JSS 1 Abigal John Iba-Akpaniko Oron 2

102. John Oronsaye M JSS 2 Elyon Education Centre Indigent Student

103. Joseph Oluwatobi Onafowokan M JSS 3 Joke Onafowokan Ola Oluwa Ikorodu 2

104. Kingsley Egor M JSS 3 Peace Kingsley Godsfavour Ogba

105. Konwel Sonia F JSS 2 Evelyn Tony Women Of Faith Warri 4

106. Kpamor Magdaline F JSS 2 Caterine Michael Abundance Sabon Tasha

107. Kpojime Jacob Teringwa M SSS 2 Rose Kpojim Sewe Gboko 2

108. Lawal Mubaraq Abidemi M JSS 1 Sikirat Olaide Ore-Ofe Ede

109. Maduako Onyedikachi M JSS 3 Ngozi Maduako Goodluck Ogbete

110. Maharazu Karimatu F JSS 2 Karimatu Usman Bameyi Zaria 1

111. Misbaudeen Mariam F JSS 3 Osunkunle Oridun Osi-Ko-Yemi Ikere

LAPO MFB

Scheme



112. Moruf Kaosara JSS 1 Salawe Adebisi Omolere Agric

113. Muraina Kadsarat F JSS 1 Abosede Saheed Irewumi Beere

114. Musa Mutiat Taiwo M SS 2 Adenike Musa Kolebaje Agege

115. Ndedigwe N. Favour Maryam F JSS 2 H/O Indigent Student H/O

116. Ndukweme Okori M JSS 1 Chiyere Udukwe Mimi Gboko 2

117. Nkounou Peter M JSS 2 Esther Kwame Forward Eleyele

118. Nnamani Chidera F JSS 3 Nnamani Jude Better Life Ogbete

119. Nnamdi Christian M JSS 2 Elochukwu Nnadi Chosen Orba

120. Nurudeen Mubarack Ayobami M JSS 2 Victoria Olapade Haleluyah Eruwa

121. Nwachukwu Oluchi Joy F JSS 3 Eunice Nwachukwu Osarugue Oko

122. Nwafor Samuel Hompfrey M JSS 3 Patience Mathew Ibisioluwa Alaba

123. Nwaigwe Chukwubuike M JSS 3 Blessing Foundation College Indigent Student

124. Nwalue Ifunaya Ester F JSS 1 Augusta Nwawe Ofure Igbede

125. Nwobodo Chinedu Joseph M JSS 2 Mary Nwobodo Ogo-Oluwa Dugbe

126. Nwokoye Emmanuel Chidumebi M JSS 1 Precious Nwokoye Unique Okoko

127. Obah Kingsley Ikechukwu M JSS 1 Ngozi Obah Christ The King Elelenwo

LAPO MFB

Scheme



128. Obarinde Oluwaseyi M JSS 2 Obarinde Taiwo Destiny Ikole Ekiti

129. Obasogie Elfreda Obosa F SSS 1 Mabel Ebogen Harmony Aduwawa

130. Obiwale Ayoku Favour JSS 2 Obiwale Alaba Peace Ikorodu 1

131. Obukohwo Rukewe F JSS 2 Beatrice Macaluay Blessed Mother Warri 4

132. Odama Isaac Rapheal M JSS 1 Kate Raphael God's Grace Shasha

133. Odo Hillary Chibueze JSS 3 Odo Theophilus Ugochukwu Obollo

134. Odoemelam Gideon .E. M JSS 2 Godwin Odoemena Higher Ground Faulks

135. Ofoegbu Chidera .F. Amarachi F JSS 1 Priscal Ofoegbu Ezinne Oshodi

136. Ogbodike Blessing .O. F SSS 1 Favour Ogbodike Glory Love Evbuotubu

137. Ogbonaya Chukuebuka M JSS 2 Ogbonaya Okereke Ogbesasa Benin 1

138. Oghneke Success M JSS 2 Ogenuke Edna Prince Rumuokwuta

139. Oguntoye Mary F SSS 2 Ogudeji Esther Ayo Olope

140. Ojo Oluwaseun M JSS 1 Abimbola Ojo Honest Kubwa

141. Oke Vivian Olajire F JSS 3 Susan James Edikan Oron Road

142. Okoro Isreal Martins M JSS 2 Chuks Okoro Merch Sabon Gari

143. Okorofor C Patience F JSS 3 Anglina Chijioke God's Love Newkaru

LAPO MFB

Scheme



144. Olabanji Demeji M JSS 2 Olabanji Ruth Owonikoko Ilesa 2

145. Olabiyi Mukadam F JSS 3 Adedokun Rashidat Otitogbemi Ogo-Oluwa

146. Olabode Lekan Bayo M JSS 2 Victoria Olabode Ogo-Oluwa Isolo

147. Oladimeji Sodiq Adewunmi M PRY 6 Abigael Oladimeji Friendship Igando

148. Oladipupo Pelumi Femi M JSS 1 Aishat Ganiyu All Crown Ikotun

149. Olagidi Samuel Ayodele M JSS 2 Grace Emmanuel Ife-Oluwa Bodija

150. Olaiwola Olayemi F Ss2 Olaywola Abijoke Igbega Akure 1

151. Olajide Sholabi Sunday M JSS 3 Monsurat Olajide Success Aja

152. Olalekan Latifat Oyin M SSS 1 Titi Olalekann Idunu Ayo Isolo

153. Olanrewaju Benjamin Sunday M JSS 2 Motunray Olarenwaju Strong Tower Challenge

154. Olatire Olanrewaju Timileyin M JSS 1 Olajire Sokadi Unity Oke Ado

155. Olatunji Rukayat Idowu F JSS 2 Olatunji Olanrewaju Owodara Oke Ado

156. Olawepo Deborah F JSS 3 Olwepo Abigail Blessed Ilaje

157. Olayiwole Abdulsalam M. M JSS 3 Nimota Olayiwola Progressive Kuje

158. Olude Elizabeth Brightness F SSS 1 Jibolu Folasade Agbara-Oluwa Igelemaroko

159. Olujinmi Toluwani Adeyemi M SSS 2 Samuel Ojusimi Jesu-Oseun Ilora

LAPO MFB

Scheme



160. Olukayode Oluwanifemi F SS 1 Olukayode Ayodele ImoleAkure Mega

161. Oluwaleye Oluwanifemi F JSS 3 Adenike Oluwaleye Titilanu Akure 1

162. Oluwasesan Sarah Jolaoluwa JSS 3 Foluke Grace Oluwasesan Glory Sabo

163. Omorogbe Joy O. F JSS 3 Omoregbe Julie Osasumwen Uwelu

164. Omotoye Oluwakemi F JSS 3 Omotoye Omowumi Temitayo Ilesa 2

165. Oneleka Luis Ruby F SSS 1 Uwuma Luwis Good Luck Ahoada

166. Onifade Glory M JSS 2 Onifade Grace Ifesowapo Modakeke

167. Onobhayedo Cyprian M JSS 3 Elizabeth Edialu Obarelu Uromi

168. Ononuju Faith F JSS 3 Adebayo Omowunmi Ibukun-Oluwa Akute

169. Oresanya Moses .O. M JSS 1 Oresanya Adeola Ilesiwaju Idi-Oro

170. Orisabiyi Olalekan Olarewaju M JSS 2 Lola Orisabiyi Modupe Olorunsogo

171. Oroleye Kehinde Opeyemi F JSS 2 Oreleye Toyin Grace Abule-Egbe

172. Osagie Festus M JSS 3 Adesuwa Samuel Lawani Uwelu

173. Osamagbe Osayamen M JSS 3 Epen Secondary Sch. Indigent Student

174. Osunbor Samuel M JSS 2 Caro Igboi Orobosa Ikpobahill

175. Otobhi Samuel Ehisunoria M JSS 2 Ihogbe Junior College Indigent Student

LAPO MFB

Scheme



176. Oyadeyi Kayode M JSS 3 Risikat Ajani Opeyemi Ope-Ilu

177. Oyenaba Timothy .S. Chimezie M SS 1 Gift Oyenaba Oluwasheun Oshodi

178. Oyetunde Daniel Ademola M SSS 1 Olubumi Florence Irowo Moniya

179. Oyetunji Ridwan Oyekunle F JSS 3 Idowu Taiwo Gods grace Owode

180. Oyewale Kehinde Precious F JSS 3 Chinyere Chales .O. Oredegbe Papa Ajao

181. Oyewola Abdul-Gafari Adesina M JSS 2 Adebayo Oyewole Owoduni Oyo 1

182. Quadri Akeem M JSS 1 Katolat Akinwole Boluwatife Ikere

183. Raheem Aliyat F SS 1 Busayo Raheem Owodunni Oshodi

184. Raiyemo Eniola M SSS 1 Sroseline Kolade Divine Mercy Lokoja 2

185. Salako Folakemi Mary F SSS 1 Olufemi Salako Rise & Shine Kubwa

186. Salami Halima Heniola F SS 1 Taofikat Salami Ibukun-Oluwa Ikate

187. Saminu Muh'd Rabiu M JSS 2 Talatu Sani Kalarwm A/Bello

188. Samsideen Muyinat Bisola F JSS 2 Bashirat Shittu Iremide Papa Ajao

189. Sanusi Khadijah Abidemi M JSS 1 Sanusi Hajarat Succeed Agege

190. Shaba Roseline F JSS 2 Achievement Akugba

191. Sikiru Fatimat Omowunmi F JSS 2 Sikiru Bose Oluwa-Layo Ile-Oluji

LAPO MFB

Scheme



192. Sunday Anita F JSS 3 Blessing Nwagbogwu Blessed Isele-Uka

193. Tekin Christy Barivule F JSS 1 Barisi Tekin Goodwill Woji

194. Terver Joyce Wuse F SSS 3 Judith Tervan Success Gboko 2

195. Thompson Mmenyene M JSS 3 Rita Mathew Nka Imo Eket 2

196. Ubawuike Miracle Chidinma F JSS 2 Grace Mba Divine Favour Isolo

197. Ubhi Osariemen Joy F JSS 3 Green Pack Academy Indigent Student

198. Udo Daniel Ezekiel M JSS 3 Ebenezer Sec.School Indigent Student

199. Ugwu Cosmas Chibuzor .M. M JSS 2 Uwuma Luwis Chikwado Wetheral

200. Ukpabi Blessing Chinyere F SSS 1 Ukpabi Grace Dominion Ogoja

201. Ukpong Chidima Michael M JSS 3 Akon Micheal Divine Mile 1

202. Umoren Ndiana Abasi .A. M JSS 3 Grace Umoren Accomplished Aggrey

203. Unwuchola Emmanuel M JSS 1 Sunday Ogwu Ojima-Ojo Ayingba

204. Wikimor Okechukwu .C. M JSS 2 Christiana Okechukwu God's Gift Mile 3

205. Willooughby Henry Abiola M SSS 1 Adeola Willoughby Opeoluwa Agric

206. Winner-Praise Tochukwu M JSS 1 Ogugua Veronica Victory Gwagwalada

207. Yahaya Musa M JSS 1 Hadiza Yahaha Albarika A/Bello

208. Yakub Basirrat Ajoke M JSS 3 Durojaiye Ogunseye. Y. Itunu Ishaga

209. Yinusa Abiola Omolara F JSS 1 Bosede Yenusa Triumphant Borokiri

LAPO MFB

Scheme

Corporate Information

Registered Head Office

LAPO Microfinance Bank Limited

18, Dawson Street,

P.M.B 1729,

Benin City,

Edo State,

Nigeria.

Tel: +234-52-292174

E-mail: [email protected], [email protected]

Web: www.lapo-nigeria.org

Lagos Annexe

LAPO Microfinance Bank Limited

Irorun Plaza

First and Second Floor,

65, Kudirat Abiola Way,

Oregun, Ikeja, Lagos,

Nigeria.

Tel: +234-1-7359754, 234-8110772850, 234-8169389739

Company Registration

RC: 688867

External Auditors

Akintola Williams Deloitte

235, Ikorodu Road,

Ilupeju, Lagos,

Nigeria.

Bankers

Access Bank Plc

Ecobank Nigeria Plc

Enterprise Bank Plc

First Bank of Nigeria Plc

First City Monument Bank Plc

Guaranty Trust Bank Plc

Standard Chartered Bank Plc

United Bank for Africa (UBA) Plc

Zenith Bank Plc


Notes






LAPO Microfinance Bank LtdLAPO

Microfinance Bank Ltd



2013 sustainability report mfb 2013... · “the mfb was well capitalized and properly managed....

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