The history of Borgu Microfinance Bank cannot be complete without primary mention of the name of its founding father, His Royal Highness, Late Alh. (Dr.) Haliru Dantoro, Kitoro III, the 16th Emir of Borgu kingdom. It has been the dream and aspiration of the late Emir to address the underdevelopment and eradicating poverty among his people in Borgu Local government and its environ in particular. As a leader, he worked hard to build a better community; a product of which is the establishment of a community Bank in his domain.
The bank was incorporated on January 13, 1992 with the registered company name of “Borgu Community Bank” and Corporate Affairs Registration number of RC185101. The Bank commenced community banking operations on February 25th 1992 with a provisional license issued by the defunct National Board for Community Bank (NBCB) on December 20, 1991. The Bank began business operation at His Royal Highness personnel resident at No 191, Ibrahim Taiwo Road, New-Bussa. A final license number 000202 was issued to the Bank by the Central bank of Nigeria on January 24, 2002.
With the inauguration of the Microfinance policy by the Federal Government in December 2005, the promoters by letter dated September 28, 2006 submitted an application for the acquisition of a Microfinance Bank licence, which after meeting the prescribed requirements was secured in December 2007.
The Bank has been operating under Corporate governance as provided by the prudential guideline of the Central Bank of Nigeria being the regulatory body. Since inception three Governing Councils have successfully governed the Bank through progressive legislation to bring the Bank to its height. The Governing Council comprised HRH, Late Alh. Sen. Dr. Haliru Dantoro, Kitoro III, Emir of Borgu, the founder and the first Chairman. Others are Alhaji Abdullahi Bawa, Alhaji Ahmed Bako Mohammed, Alhaji Alhassan Bawa Niworu, Alhaji Aliyu Ladan, Alhaji Yau Damisa. Alhaji Ibrahim Bidi, Mrs. Sarah Bola Olawepo and Hajia Amina Dawake. The second Council comprised of Late Sen. Dr. Haliru Dantoro, Late Alh. Abdullahi Bawa, Late Alhaji Ahmed Sheidu, Late Mall. Jibril Mohammed, Mr. Alfred Nikolo and Hajia Fati Umar.
Later, Dan Galadima, Borgu Alhaji Bello Dantoro and Mr. Abiodun Adegbiji joined the Council. The third Council is constituted by Alhaji Isah Ladan – Chairman, Late Alhaji Baba Yusuf Ahmed, Alh. Bello Dantoro, Late Mall Jibril Mohammed, Mr. Abiodun Adegbiji, Hajia Fati Umar and Deacon Isaac Kolo.
Later, Alhaji Ango Shantali and Alhaji Abdulatif Banuso joined to represent Alh. Baba Yusuf Ahmed and Alh Isah Ladan on proxy respectively. Following the demise of Mall. Jibril Mohammed, Alh. Ibrahim Musa Goni was appointed into the board as a member of the third governing council. Presently, under the same third Council Dan Galadima Borgu, Alhaji Bello Dantoro was unanimously appointed as the Chairman of the Bank due to exigencies of work of Alhaji Isah Ladan. Dn. Isaac Mayaki Kolo was the Manager of the Bank during the Community Bank era and later appointed the Managing Director of the Bank since 2007 until his retirement in February 2017. Mall. Abubakar Suleiman succeeded Dn. Isaac Kolo as the Managing Director of the Bank. Recently, Alh. Ibrahim Goni resigned as director upon his appointment as conservator General of Nigerian National Park Service, he is succeeded on stakeholders appointment by Alh. Bawa Niworu.
To be the leading Nigerian, Micro-finance institution in Nigeria committed to Eradicating poverty by Building Wealth among active poor.
To provide quality Micro-finance services in a sustainable manner to meet the needs and preferences of the stakeholder.
We have an in exhaustive list of shareholders that ranges from Salary income earners, traders, farmers, women groups and associations.
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