Richway Microfinance Bank, one of Nigeria’s leading Microfinance banks, has emerged as the 2020 Overall Best-in-class microfinance bank in Nigeria at the Developments in Africa Merit Awards held recently in Lagos.

The Bank emerged the overall winner ahead of several other reputable microfinance banks in Nigeria. The Bank was adjudged based on its commitment to supporting small and medium scale enterprises, strong digital banking structure, excellent corporate governance, robust risk management framework and diverse financial products for entrepreneurs across Nigeria.

The award, according to the organizers, is a recognition of Richway Microfinance Bank’s leadership role in the Microfinance sector in expanding access to funds for the support of the SME industry in Nigeria. They further noted that Richway MFB’s remarkable performance has brought unprecedented growth to the sector and by extension, the nation’s economy and that of Africa.

While receiving the award on behalf of the Bank, the Managing Director, Mr Adenrele Oni acknowledged the support of the Board, Management, Staff, Friends and Partners of the Bank from inception to date.

He strongly mentioned that the award was a seal of the passion and commitment of Richway dedicated staff and a symbol of the loyalty of the Clients.

This was the 3rd award won by the Bank in 2020 despite the global challenges faced in the year. In November 2020, The Managing Director of the Bank, Mr Adenrele Oni won the “Best Microfinance Bank CEO Award of the Year 2020” at the Africa’s Banking Award and in August 2020, the Bank won the “Most Innovative Microfinance Bank of the Year 2020” at the African Brands Leadership Merit Award.

The Bank has consistently won the best microfinance bank of the year from 2018 to date.

In August 2019, we won the “Most Trusted Microfinance Bank in Nigeria award for the Year 2019” in the African Brand Leadership Merit Awards.

In November 2019, we also won the “SME Microfinance Bank of the year 2019” at the Nigeria Entrepreneur Merit Awards.

In November 2018, it won the “Microfinance Bank of the Year 2018” in the Nigeria Entrepreneurs Merit Award.

Richway was incorporated in August 2016 and commenced operations in January 2017 following the receipt of Central Bank license. It currently has 4 branches in Lekki, Opebi, Abule Egba and Ajah with its Head Office situated in Lekki, Lagos.