By Providence Obuh
Nigerian Police Force (NPF) Microfiance Bank Plc has listed its entire share capital, totalling N3.43 billion on the NIgerian Sock Exchange (NSE), with the listing by introduction of 2.286 billion ordinary shares of 50 kobo each at N1.50 per share.

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Managing Director of the bank, Mallam Mohammed Hassan said during the listing on the floor of the NSE in Lagos, Wednesday, that its decision to list on the NSE was borne out of the need to enjoy the benefit associated with being a quoted company and to meet the desire of shareholders so they can improve on liquidity and credibility report.

He said that the bank’s authorized capital at inception which was N500,000.00 has over the years increased to its current level of two billion, noting that the shareholders fund of over 3.3 billion as 31st December 2009 makes the bank a state Microfinance bank granted by the central bank of Nigeria.

Hassan summit that NPF Microfinance Bank Plc incorporated on the 19th May,1993 as a Limited Liability company under the provision of the Companies and Allied Matter Act cap c20LFN 2004  provides Banking services to both serving and Retired Officers and men of Nigeria Police Force, its ancillary institution and the  general banking public.

He said the bank has a track recorded of over 15 years, existing as a community bank in the last 17 years, he added that presently the bank has 10 branches and plans to grow the bank organically to all the police zonal commands in the federation.