See the launch date as another bank is set to commence operations in Nigeria

• The Nigerian Legion has hinted that it is awaiting the CBN's approval to establish a microfinance bank in the country
• This is to enable ex-servicemen to obtain soft loans free from the typical restrictions usually faced in commercial banks
• According to the chairman of the group, the seed money is necessary to solve the financial difficulty

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Zylus Group International has set the stage for the launch of its Retrust Microfinance Bank, marking its entry into Nigeria's financial services sector.

The launch is scheduled for Saturday, August 31, 2024, and aims to rival other established banks for customers.

Another Nigerian bank set to begin operation in August Photo credit: Bloomberg/contributor
Source: Getty Images

CEO speaks on plans for Retrust Microfinance Bank,

Oluwatosin Olatujoye, the CEO of Zylus Group, p, expressed his enthusiasm about the imminent launch, emphasizing the bank's mission

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His words:

"We believe everyone deserves access to reliable and affordable banking solutions."Retrust Microfinance Bank is here to ensure that even those in the most remote areas can achieve their financial goals."

He added that its new venture will seek to promote financial inclusion and empowerment.

He said:

"The bank plans to offer a diverse array of products tailored to the needs of micro-entrepreneurs, small businesses, and individuals who have limited access to traditional banking services. By doing so, Retrust aims to stimulate economic growth and prosperity within the community."At the core of Retrust is a customer-first philosophy. We recognize that each customer possesses unique financial aspirations. "Our objective is to cultivate strong relationships, understand their goals, and deliver solutions that genuinely make a difference."

Olatujoye also highlighted plans to deploy state-of-the-art technology and customer-centric services to enhance user experience.

He noted:

"This is just the beginning. We are dedicated to driving positive change and ensuring that everyone, regardless of their background, has the opportunity to thrive."

Sterling Holdings launches new Islamic bank

Legit.ng reported that Nigeria's newest ethical bank, The Alternative Bank, has debuted with a multi-city launch in three cities nationwide.

The bank launched simultaneously in Lagos, Abuja, and Kano, making it the first multi-city brand launch in Nigeria's history.

The Alternative Bank is a subsidiary of Sterling Financial Holdings.

Source: Legit.ng