By Providence Emmanuel

The pioneer Managing Director/ Chief Executive Officer, LAPO Microfinance Bank Limited, Dr. Godwin Ehigiamusoe, has stepped down.

Consequently, the board of directors announced the nomination of Mrs Cynthia Ikponmwosa, as the Managing Director designate subject to the Central Bank of Nigeria, CBN’s approval.

Ikponmwosa who holds a Master of Arts degree in Corporate Governance, from the University of Hertfordshire, England and attended several senior management development programs, led the LAPO Corporate Secretariat and recently the Executive Director, Corporate Services.

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LAPO MfB started as a non-profit entity at Ogwashi-Uku in present-day Delta State in 1987 and was formally incorporated as a non-profit, non-governmental organization (NGO) with the Corporate Affairs Commission in 1993

The bank obtained approval from the CBN to operate as a regulated State MfB in 2010 and by 2012 it obtained another approval from the apex regulator, CBN to operate as a National MfB.

Vanguard News Nigeria.