Development Bank of Nigeria (DBN)…

DBN (Development Bank of Nigeria)

Development Bank of Nigeria (DBN) was conceived by the Federal Government of Nigeria in collaboration with the World Bank, African Development Bank, German Development Bank (KfW), French Agency for Development and European Investment Bank to address.

DBN was established to bridge the gaps created by Bank of Industry (BOI) and the commercial banks that could not satisfy the funding needs of the MSME ( Micro, Small, Medium Enterprise). DBN introduction is meant to enhance Private Investment activities.

The Ministry of Finance stated that about 20,000 beneficiaries will be given loan during it’s first year of operations

Development Bank of Nigeria exists to alleviate financing constraints faced by Micro, Small and Medium Scale Enterprises (MSMEs) and small corporate in Nigeria through providing financing, partial credit guarantees and technical assistance to eligible financial intermediaries on a market-conforming and fully financially sustainable basis.

The Development Bank of Nigeria (DBN) was set up as a wholesale development finance institution (DFI) to provide sustainable financing through eligible Participating Financial Institutions (PFIs), who would in turn, lend to end-borrowers – Micro, Small and Medium Enterprises (MSMEs) for the development of that segment….

Who qualifies for the DBN loan?

All MSMEs (start up or existing) involved in productive enterprises are eligible for the loan. However, they must be customers of eligible financial institutions.

Loan Repayments and interest rate

DBN loan repayment tenure is flexible (up to 10 years with a moratorium period of up to 18 months) and the interest rates are on a market-conforming and fully financially sustainable basis. (should you have any issues with your PFI, kindly send feedback to the email ID at the end of this piece).

How to get a DBN Loan

DBN loans can be accessed through PFIs, which include Commercial Banks, Microfinance Banks, Development Finance Institutions (DFIs) and other Financial Institutions.

To access the loan:

1. Visit your bank:

Commercial Bank, Microfinance Bank, Development Finance Institution (DFI) and other Financial Institutions and indicate you want to apply for a DBN Loan.

2. The Bank appraises the business and loan purpose, and if its assessment is favourable, the Bank applies to DBN on your behalf for funding.

3. If DBN approves the loan, DBN will disburse to the Bank for on-lending to end borrowers.

You can access the DBN loan through any of these PFIs by contacting any of the banks listed below:

DiamondBank Olc

Ayodele Olojede – aolojede@diamondbank.com

Ecobank Nigeria Bank Plc

Nelson Paseda – NPASEDA@ecobank.com

LAWAL Theresa – TOLAWAL@ecobank.

Fidelity Bank Plc

Osaigbovo Omorogbe – osaigbovo.omorogbe@fidelitybank.ng

FCMB Ltd

Oluwaseun Adetiba – Oluwaseun.Adetiba@fcmb.com

Oluremi Agboola – Oluremi.Agboola@fcmb.com

UBA Plc

Adegoke Bayo – bayo.adegoke@ubagroup.com

Wema Bank Plc

Dotun Ifebogun – dotun.ifebogun@wemabank.com

AB Microfinance Bank Nigeria Ltd

Nnadozie Joseph – nnadozie.ohaji@ab-mfbnigeria.com

Addosser Microfinance Bank

Olusola Howells – howells.olusola@addosser.com

Baobab Microfinance Bank

Achenyo Oyibo – aoyibo@baobab.bz

Bosak Microfinance Bank

Toyin Peters – toyinpeters@bosakmfb.com

Infinity Microfinance Bank Ltd

Oludotun Adewunmi – g.adewunmi@infinitymfb.com

LAPO Microfinance Bank Ltd

Efosa Aigbe – efosa.aigbe@lapo-nigeria.org

Microcred Microfinance Bank Nigeria Ltd

Omar Niaz – oniaz@microcred.com

NPF Microfinance Bank Plc

Jude Ohanehi – jeco0072000@yahoo.co.uk

Quick Contact

Our support is available to you.

8am – 5pm, Monday – Friday

Head Office:

The Clan Place,

Plot 1386A Tigris Crescent, Maitama, Abuja, Nigeria

Lagos Office:

Plot 952/953 Idejo Street,

Victoria Island, Lagos, Nigeria

Call: +234-9-904-0000, +234-811-3841-699

Email: info@devbankng.com

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