The Bank was incorporated in Nigeria as a private limited liability company on May 1993 under the provisions of the Companies and Allied Matters Act CAP C20 LFN 2004 with Registration Number 220824. It obtained a provinsional licence No. FC 000200 and it commenced operations on 20 August 1993. It obtained its final licence from the Central Bank of Nigeria on 24 January 2002. It was registered as a Public Limited Liability Company on 13 July 2006 and was converted to a microfinance bank on 10 May 2007.
