Tf Microfinance Bank

The vision for TF Microfinance Bank started with the Incorporation of Thinkfinance Services Limited on 6th December 2012. In 2015 the company was granted approval in principle by The Central Bank of Nigeria for a Unit Microfinance Bank. On the 14th of March 2016, TF Microfinance Bank was incorporated with a fully paid authorized share capital of twenty million Naira. It aims at rendering robust financial services focused on the underbanked and unbanked populace. The pioneer, Efeurhobo Otaloghene, a graduate of Accounting from Obafemi Awolowo University and a Master's degree holder in Finance and Investment from the University of Edinburgh, United Kingdom, had developed a passion to assist the unemployed graduates and micro-scale business owners in Nigeria. He devised a business model during his National Youth Service Corps (NYSC) period in Benue State, Nigeria. The business model focused on mobilizing corps members who agreed to set aside a certain percentage of their monthly stipends in a shared pool and have the funds disbursed as micro-loans to micro-scale business owners in Benue State. This project was successful and metamorphosed into a Community Development Service (CDS) group which earned him a Commendation Letter from the State Coordinator of the NYSC. The drive to build on this business model, make it a tool for solving the unemployment problem, and empower the unbanked and underbanked in Nigeria was the reason he traveled abroad to broaden and deepen his business, financial, and investment management knowledge and skills. This was what led to the incorporation and registration of TF Microfinance Bank Limited.