VFD Group has approved a N5 billion capital injection into VFD Microfinance Bank (V Bank) as part of its strategy to strengthen the bank’s digital banking operations and drive financial inclusion.
The investment, dated February 18, 2025, was disclosed in a regulatory filing published on the Nigerian Exchange (NGX) on February 19, 2025 and signed by the company secretary, Gbeminiyi Shoda.
According to the disclosure, the decision to expand the reach and capabilities of its digital-first financial institution is in line with Section 289(8) of the Companies and Allied Matters Act (CAMA) 2020.
“This strategic investment underscores VFD Group’s dedication to strengthening V Bank’s position as a formidable player in Nigeria’s financial services ecosystem,” the company stated.
Nonso Okpala, Group Managing Director and CEO of VFD Group, described the move as a transformative step toward creating innovative banking solutions tailored to Nigeria’s evolving financial landscape.
“This milestone signifies a transformative leap in empowering Nigerians through innovative banking solutions. We envision V Bank as a catalyst for economic growth, crafted to meet the diverse needs of our communities,” Okpala said.
He further explained that the Group’s vision is building a more inclusive financial system that fosters opportunity and trust for individuals and businesses alike.
V Bank’s Managing Director, Rotimi Awofisibe, said the capital injection is important in enhancing the bank’s technological infrastructure and customer experience.
“This capital infusion will enable us to enhance our technological capabilities and improve customer experience. With the support of VFD Group, we are ready to reach new heights, bringing innovative, efficient, and accessible banking solutions to more Nigerians,” Awofisibe said.
As a fully digital bank, V Bank offers technology-driven financial services, positioning itself as a key player in Nigeria’s expanding fintech ecosystem.
The latest capital injection is expected to accelerate product innovation, improve service delivery and expand financial access across the country.
VFD Group’s continued investment in V Bank reflects its long-term growth strategy, reinforcing digital banking adoption and economic empowerment through seamless financial solutions.
