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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