The management of NPF Microfinance Bank has dispelled the widespread belief that the bank is meant exclusively for police officers, stressing that its services are open to all Nigerians engaged in economic activities.
Speaking during an interactive session with journalists at the bank’s head office in Lagos, the Managing Director, Mr Habeeb Yusuf, said the bank welcomes businessmen, self-employed individuals, salaried workers and the general public.
Yusuf emphasised that NPF Microfinance Bank is not solely focused on lending but also encourages savings, noting that a strong savings culture enables easier access to loans and promotes community development.
“If we all save here, it will help people access loans and ultimately better the community,” he said.
Clarifying the bank’s relationship with the Nigeria Police Force, Yusuf stated that police officers are not mandated to open accounts with the bank. “It is not compulsory for police officers to bank with us, though those who do have consistently given positive feedback,” he added.
He explained that while the police hold 62 per cent equity in the bank and the Police Insurance Company owns an additional 14 per cent, the customer base reflects broader public participation. According to him, only 45 per cent of the bank’s salary products are patronised by police officers, while 55 per cent are used by non-police customers. We currently have about 1.5 million customers nationwide, while the total number of police officers is just over 300,000. Even if every policeman banks with us, they would account for roughly 30 per cent of our customers. That clearly shows the bank is for everybody,” Yusuf said.
Also speaking, the Executive Director of Operations, Mr John K. Tizhe, said the bank offers accessible and affordable loan products, with an interest rate of 36 per cent, which he described as significantly lower than prevailing industry rates.
Highlighting the bank’s growth, Tizhe noted that NPF Microfinance Bank, established in 1993, has evolved into a national microfinance institution with 49 branches across all state capitals.
“Our capital base has grown from ₦500,000 in 1993 to ₦13 billion in stakeholders’ funds. In 2025, we ranked as the second-best bank in capital appreciation, and we remain the only state microfinance bank listed on the capital market,” he said.
The bank currently provides a range of retail banking services, including savings and current accounts, salary advances, and loan products tailored for agriculture, education, trade and commerce.
The sun
