VFD Group Injects N5bn into V Bank to Boost Digital Banking Expansion
VFD Group has announced a N5bn capital injection into its subsidiary, VFD Microfinance Bank (V Bank), in a strategic move aimed at strengthening the bank’s digital operations and expanding its reach across Nigeria.
The investment, approved by the Board of Directors on February 18, 2025, was disclosed in a statement to the Nigerian Exchange (NGX) and the investing public. According to VFD Group’s Group Managing Director, Nonso Okpala, the capital infusion aligns with the company’s commitment to financial inclusion and digital banking transformation.
Strengthening V Bank’s Position in the Digital Banking Space
Speaking on the development, Okpala emphasized VFD’s long-term vision for V Bank, stating:
“Our N5bn investment in V Bank reflects our confidence in its potential and our unwavering commitment to seeing it flourish. V Bank is not just a microfinance institution; it is an integral part of Nigeria’s financial services ecosystem, and we are committed to scaling its operations, expanding its reach, and reinforcing its position as a trusted financial partner to millions of Nigerians.”
Impact on Technology and Customer Experience
The Managing Director of V Bank, Rotimi Awofisibe, highlighted how the additional capital would fuel technological advancements and improved customer experience.
“This capital infusion will allow us to deepen our technological capabilities, introduce new product offerings, and enhance customer experience. With VFD Group’s support, we are poised to scale new heights, reaching more Nigerians and providing them with innovative, efficient, and accessible banking solutions.”
VFD Group’s Recent Moves in the Financial Sector
This investment comes amid other strategic financial maneuvers by VFD Group. Recently, the company announced the divestment of its 57.26% stake in Atiat Limited, a deal valued at over N7bn. Additionally, VFD Group has been actively raising capital, with previous announcements about plans to raise N30bn for further expansion.
The Future of Digital Banking in Nigeria
With Nigeria’s digital banking sector growing rapidly, the move by VFD Group underscores the increasing competition and demand for technology-driven financial services. The N5bn investment is expected to position V Bank as a key player, ensuring its ability to compete with both established banks and emerging fintech companies.
As VFD Group continues to expand its footprint in the financial services space, this investment signals a strong push towards innovation, financial inclusion, and digital transformation in Nigeria’s banking sector.
VFD Group has announced a N5bn capital injection into its subsidiary, VFD Microfinance Bank (V Bank), in a strategic move aimed at strengthening the bank’s digital operations and expanding its reach across Nigeria.
The investment, approved by the Board of Directors on February 18, 2025, was disclosed in a statement to the Nigerian Exchange (NGX) and the investing public. According to VFD Group’s Group Managing Director, Nonso Okpala, the capital infusion aligns with the company’s commitment to financial inclusion and digital banking transformation.
Strengthening V Bank’s Position in the Digital Banking Space
Speaking on the development, Okpala emphasized VFD’s long-term vision for V Bank, stating:
“Our N5bn investment in V Bank reflects our confidence in its potential and our unwavering commitment to seeing it flourish. V Bank is not just a microfinance institution; it is an integral part of Nigeria’s financial services ecosystem, and we are committed to scaling its operations, expanding its reach, and reinforcing its position as a trusted financial partner to millions of Nigerians.”
Impact on Technology and Customer Experience
The Managing Director of V Bank, Rotimi Awofisibe, highlighted how the additional capital would fuel technological advancements and improved customer experience.
“This capital infusion will allow us to deepen our technological capabilities, introduce new product offerings, and enhance customer experience. With VFD Group’s support, we are poised to scale new heights, reaching more Nigerians and providing them with innovative, efficient, and accessible banking solutions.”
VFD Group’s Recent Moves in the Financial Sector
This investment comes amid other strategic financial maneuvers by VFD Group. Recently, the company announced the divestment of its 57.26% stake in Atiat Limited, a deal valued at over N7bn. Additionally, VFD Group has been actively raising capital, with previous announcements about plans to raise N30bn for further expansion.
The Future of Digital Banking in Nigeria
With Nigeria’s digital banking sector growing rapidly, the move by VFD Group underscores the increasing competition and demand for technology-driven financial services. The N5bn investment is expected to position V Bank as a key player, ensuring its ability to compete with both established banks and emerging fintech companies.
As VFD Group continues to expand its footprint in the financial services space, this investment signals a strong push towards innovation, financial inclusion, and digital transformation in Nigeria’s banking sector.