2013Sustainability Report
Microfinance Bank of the Year 2013 - BUSINESSDAY Annual Banking Award
LAPO Microfinance Bank Ltd
RC: 688867
...Improving Lives
Rating and Regulators’ Reports
CBN 2011 Examination Report
“The Board of LAPO Microfinance Bank had demonstrated commitment to the growth and existence of the
Bank since inception through its frequent Board meetings, deliberation and attendance at such meetings.” CBN 2013 Examination Report
NDIC
2012 Routine Examination Report
“The Beta plus (ß+) rating reflects LAPO Microfinance Bank Limited dominant market position, excellent
portfolio quality, good methodology for its main lending product – group lending – and strong finances.”
td:LAPO
“The MFB was well capitalized and properly managed. Board and Management brought their wealth of
experience to bear in the affairs and operation of MFB resulting in increasing profitability and capital
growth.”
“LAPO Microfinance Bank Limited is obviously a microfinance bank on the right track, in terms of structures
on ground, staff strength, branch network, and coverage all over the country.”
“The management and staff of LAPO MFB Limited have a long and successful history of involvement in social
mobilization and rural lending. They have developed and refined their service delivery structures,
operational procedures, the dynamics of rural economics and financial needs.”
2012 Report
Contents
LAPO Microfinance Bank Ltd 0 2013 Sustainability Report 1
02
The Microfinance Bank
Vision 02
Mission 02
Core Values 02
Sustainability Statement 02
Principles of Engagement 02
Target Clients 02
About LAPO Microfinance Bank
04
Sustainable Banking 04
Nigerian Sustainable Banking Principles 05
Sustainability: Concept and Nigerian Sustainable Banking Principles
07
Universal Standards for Social Performance Management 08
LAPO Experience 09
A Sustainable Microfinance Bank
12Environment
Insurance Services 19
Client Incentive Programme 20
Scholarship Scheme 20
Free Legal Aid Services 21
LAPO Quiz Competition 21
Mentoring of NGOs 22
Health Awareness Activities 23
Gender Equity and Social Justice 28
Social Change Advocacy 30
Our Impact 32
14Social
36
33
The Board of Directors 37
Establishment of Environment, Social and Governance (ESG) 37
Board Committee 38
Staff Welfare 39
Governance
LAPO 2013 Impact Assessment Report
44
University Scholarship Beneficiaries: 2012/2013 Academic Session 44
Secondary School Scholarship Beneficiaries: 2012/2013
Academic Session 47
LAPO Microfinance Bank Scholarship Scheme
60Corporate Information
Endorsement and Implementation of Client Protection
Principles and adoption 15
Sponsorship of Clients to Trade Fair 17
Engagement of Clients' Children 18
Affordable Housing Scheme 18
08Universal Standards for Social Performance Management: LAPO Experience
Summary of LAPO Microfinance Bank 2013 Staff Satisfaction Survey Report 41
About LAPO Microfinance Bank Limited
The Microfinance Bank
The origin of LAPO Microfinance Bank Limited dates back to 1987 as Lift Above
Poverty Organization (LAPO), a community development non-governmental
organization with focus on micro-credit, health awareness and gender
sensitization. In June 2010, it obtained the approval of the Central Bank of
Nigeria (CBN) to operate as a state Microfinance Bank under the Nigerian
Microfinance Policy, Regulatory and Supervisory Guidelines of 2005 as
amended in 2011. Subsequently in 2012, it obtained the CBN approval to
operate as a National Microfinance Bank. It has operations in 27 of the 36 states
in Nigeria and reported a client base of 1,038,340 as at 31st December 2013.
Vision
First choice financial institution
Mission
Improving lives
Core Values
LAPO Microfinance Bank's core values are founded on the following:
Innovativeness
Simplicity
Integrity
Excellence
Customer centeredness
Sustainability Statement
To be a sustainable Microfinance bank that supports its partners to become
proactive participants in positively impacting the environment and society
through sustainable practices, meeting the economic and social needs of its
clients while fulfilling the expectations of its stakeholders.
Principles of Engagement
1. The purpose of LAPO Microfinance Bank is to serve its clients:
We listen to them, reason with them and serve them in an
atmosphere of trust and respect.
2. We leverage on technology to serve our client faster and better:
Investment in cost-effective, tailored solutions enhances institutional
efficiency and client convenience.
3. Our business is where our clients are:
If it is done right there, it is right with the microfinance bank. We go out
there to support them.
4. We can achieve more as a team, we support each other:
We shake hands with individual performers, but we hug outstanding
team players.
Target Clients
Our primary focus is to reach out to the poor who are at the economically active
bottom of the pyramid, with limited formal education, living in rural, semi-rural,
semi-urban and urban areas.
LAPO Microfinance Bank Ltd 02 2013 Sustainability Report
BusinessDay Annual Banking Award
BUSINESSDAY
LAPO Microfinance Bank Ltd
WINS WINS
Microfinance Bank of the Year
2013 2013 2013
Sustainability: Concept and Nigerian Sustainable Banking Principles
Sustainability is broadly defined as meeting the needs of the present without
compromising the ability of future generations to meet their own needs.
Sustainability has both individual and institutional applicability, and is a
balancing act. Sustainability presumes that resources are finite, and should be
used conservatively and wisely with a view to long-term priorities and
consequences of the ways in which resources are used. In simplest of terms,
sustainability is about our children and our grandchildren, and the world we will
leave for them.
Sustainable Banking
A Sustainable Bank is a publicly or privately owned financial institution whose
central mission is investment in a society that values human development,
social cohesion and responsibility for it natural operating environment. In this
regard, developing human resources for the banking and financial institutions is
paramount in creating sound, efficient and responsive financial institutions that
are environmentally and socially sustainable. There are six C's of sustainable
banking: clients, culture, compliance, compensation, costs and capital. A
sustainable bank is expected to conduct business as follows:
1. Financing projects with sustainable development goals.
2. Using their shareholder power to improve the social, environmental
and governance performance of the companies in which they
invest.
3. Provide for transparency and openness in their banking operations.
4. Show leadership through putting in place a sustainability policy
within their own organization.
Figure 1: The Three Spheres of Sustainability
Adopting sustainable banking with the three-sphere results in some business
success factors, these business success factors for microfinance industry
include:
1. Revenue Mobilization. Increased revenue mobilization by improving the
environment and benefiting the economy through market/investment
opportunities; new financial products; and increase market share; e.g.,
Environmental Justice
Natural Resources Stewardship
Locally & Globally
Social-Environmental Environmental-Economic
Energy Efficiency
Subsidies/Incentive for
use of Natural Resources
SustainabilitySustainabilitySustainability
Environmental
Natural Resource Use
Environmental Management
Pollution Prevention
(air, water, land, waste)
Social
Standard of Living
Education
Community
Equal Opportunity
Economic
Profit
Cost Savings
Economic Growth
Research &
Development
Economic-SocialBusiness Ethics
fair Trade
Worker’s Rights
LAPO Microfinance Bank Ltd 04 2013 Sustainability Report
providing loans for acquisition of alternative power system that is
environmentally friendly, such as solar power.
2. Reduced Cost. By reducing environmental impacts and treating employees
well through energy, paper and water saved as costs; and higher workforce
productivity; e.g., internal operations of energy saving on lighting, air-
conditioning, IT devices, etc.
3. Improved Access to Capital. Through better governance, lower capital cost
and access to international capital markets.
4. Risk management. It reduces risk through engagement with stakeholders
knowledge-sharing and dialogue; improved management of reputational risk;
and competent advice to customers; e.g., screen loan books by carrying out
environmental audits to better understand and manage environmental risks.
5. Human Capital Development. Develop human capital through better
human resource management by higher productivity and attracting highly
skilled employees in structure career development for the staff.
6. Institutional Image. It builds and sustains positive image (reputation) for the
bank by increasing environmental efficiency, enforcing transparency, and
supporting communities. It signals to the corporate world the bank's good
governance, quality of management leadership/capacity as well as credibility.
Nigerian Sustainable Banking Principles
Nigeria is one of the developing countries that plays key roles in the African
Financial Global Markets and is among the countries that signal its commitment
to the future of its economic growth by being environmentally and socially
responsible. As financiers and one of the business leaders they have recognized
the role that they have to deliver positive developmental impacts to the society
whilst protecting its various and indigenous communities in which it operates.
As such members of the Nigerian Banker's Committee adopted nine principles
in recognition of the Nigeria's banking sector's role and responsibility to deliver
positive impacts to the society whilst protecting the environment and
communities in which we operate. The Nigerian Sustainable Banking Principles
are highlighted as follows:
Principle 1. Our Business Activities: Environmental and Social Risk
Management
We will integrate environmental and social considerations into decision-making
processes relating to our Business activities to avoid, minimize or offset negative
impacts.
Principle 2. Our Business Operations: Environmental and Social Footprint
We will avoid, minimize or offset the negative impacts of our Business
Operations on the environment and local communities in which we operate
and, where possible, promote positive impacts.
Principle 3. Human Rights
We will respect human rights in our Business Operations and Business Activities.
Principle 4. Women's Economic Empowerment
We will promote women's economic empowerment through a gender inclusive
workplace culture in Business Operations and seek to provide products and
services designed specifically for women through our Business Activities.
Principle 5. Financial Inclusion
We will promote financial inclusion, seeking to provide financial services to
individuals and communities that traditionally have had limited or no access to
the formal financial sector.
Sustainability: Concept and Nigerian Sustainable Banking Principles
LAPO Microfinance Bank Ltd 05 2013 Sustainability Report
Principle 6. E&S Governance
We will implement robust and transparent E&S governance practices in our
respective institutions and assess the E&S governance practices of our clients.
Principle 7. Capacity Building
We will develop individual institutional and sector capacity necessary to identify,
assess and manage the environmental and social risks and opportunities
associated with our Business Activities and Business Operations.
Principle 8. Collaborative Partnerships
We will collaborate across the sector and leverage international partnerships to
accelerate our collective progress and move the sector as one, ensuring our
approach is consistent with international standards and Nigerian development
needs.
Principle 9. Reporting
We will regularly review and report on our progress in meeting these Principles
at the individual institution and sector level.
Sustainability: Concept and Nigerian Sustainable Banking Principles
LAPO Microfinance Bank Ltd 06 2013 Sustainability Report
A Sustainable Microfinance Bank
LAPO Sustainability activities are implemented within its Microfinance Bank's
Environment, Social and Governance (ESG) Initiative. The key elements of the
Initiative are environmental protection; client protection and support and
institutional strengthening. The institutional structures which drive the ESG
initiatives include a Board committee on Environment, Social and ESG
Management Team. The Board Committee provides strategic direction and
guidance towards the achievement of the Microfinance Bank's sustainability
objectives while the Management Team is responsible for implementation of
the components of the Initiative.
During the period, a sustainability strategy was developed with clear
sustainability statement which expresses mandate LAPO Microfinance Bank's
of achieving Triple Bottom-line of People, Planet and Profit.
A number of activities were carried out to realise the ESG's objectives. The clean
energy lending activities received a boost during the year. More client obtained
loans to acquire clean cooking gas cylinders within the partnership between
LAPO and Oando a major oil and gas trading company. Also the microfinance
bank in partnership with d.Light also distributed large number solar lamps to
clients.
The microfinance bank deepened its social performance activities during the
year. Activities to enhance client protection and support were carried out during
the period. The microfinance bank's client feedback mechanisms were
strengthened; the In Touch initiative whereby every manager works at a branch
office twice a year was diligently implemented during the year. The daily client
calls by management staff were also made and analysed and provided useful
input into decision making process. A Call Centre to facilitate client feedback
was also set up.
LAPO sustained its commitment to supporting the Microfinance Bank
education of children of clients. The Board of Scholarship Scheme made a LAPO
total of 1,432 scholarship awards to children of clients. Plans are being put
together to provide support for children of clients who choose to acquire skills.
We hope to commence its implementation in 2014
Finally, we seek to promote health and safety of staff members. Provisions of
LAPO's HIV/AIDS Workplace Policy were complied. Health and Safety
Guidelines are being developed. Full implementation will begin in 2014.
I want to reiterate our commitment to the realization of the microfinance bank's
sustainability mandate.
Godwin Ehigiamusoe
Chief Executive Officer
LAPO Microfinance Bank Ltd 07 2013 Sustainability Report
“ Sustainability LAPO Microfinance Bank's
activities are implemented within its
Environment, Social and Governance
(ESG) Initiative.”
Universal Standards for Social Performance Management: LAPO Experience
Universal Standards for Social Performance Management
Social performance is the effective translation of an institution's social mission
into practice. The social value of microfinance relates to the way financial
services improves the lives of the poor and excluded clients, their families, and
the ability to widen the range of opportunities for them and their communities.
Social performance monitoring and management encompass the entire set of
processes implemented by a Microfinance Institution (MFI) to generate positive
outcomes for its clients and for the communities it serves. They include analysis
of the developmental goals of institutions, the systems and procedures MFIs
have in place, and the effectiveness of these procedures at monitoring progress
towards organizational objectives. To create this value, the social objectives of a
MFI may include the following:
Serve increasing numbers of poor and excluded people in an
ongoing, sustainable way both by broadening and deepening
outreach;
Improve the quality and appropriateness of the financial services
available to target clients through the systematic assessment of their
specific needs;
Create benefits for microfinance clients, their families and
communities that are related to social capital and social links, assets,
reduced vulnerability, income, access to services and the fulfillment of
basic needs;
Improve the social responsibility of the MFI towards its employees,
clients and the community it serves;
Enabling the clients to avoid over-indebtedness.
The Universal Standards for Social Performance Management (USSPM) have
been developed by Social Performance Task Force (SPTF) members to establish
a common global understanding of what “good Social Performance
Management (SPM)” means for double/triple bottom line MFIs. The SPTF, an
international group comprised of investors, donors, MFIs, microfinance
networks, research agencies, and other stakeholders united in the goal of
defining, measuring, and improving the social performance of MFIs. The SPTF
has created both a framework of analysis and a set of standardized indicators to
assess MFIs' social performance.
MFIs can use them to self-regulate their SPM practice, as well as strengthen it
over time. The Standards are organized into the following six categories:
1. Define and Monitor Target Clients and Social Goals.
2. Ensure Board, Management, and Employee Commitment to Social
Performance.
3. Protect Clients' Rights.
4. Design products, services, delivery models and channels that
respond to Clients' Needs and Preferences.
5. Treat Employees Responsibly.
6. Balance Social and Financial Returns.
The Standards apply to both MFIs and stakeholders in the microfinance
industry. MFIs should use the standards in two key ways:
To guide their SPM strategies.
To self-regulate their social performance.
The stakeholders will also find the Standards useful as follows:
Investors and donors can use the Standards to understand an MFI's
SPM practices and help them direct their funds toward MFIs with
strong SPM, and to identify SPM capacity building needs among
investees.
Social raters and social auditors already use many of the individual
LAPO Microfinance Bank Ltd 08 2013 Sustainability Report
standards in their assessments, but may realize the need to assess
compliance with the entire set of standards as part of the rating and
auditing processes.
Networks and associations can use the Standards as a tool to assess
the social performance of partner MFIs and make critical decisions
about capacity building, partnership agreements, and funding.
LAPO Experience
The need to effectively measure and monitor numerous social and economic
activities (services) which LAPO offer to its clients led to the adoption of a
universal social performance management system. The rationale for adopting a
standardized social performance management system is to ensure that the
contributions of various departmental or units' activities towards the
achievement of LAPO's social goals are effectively monitored and measured.
Define and Monitor Target Clients and Social Goals
LAPO Microfinance Bank's financial and social performance is encapsulated in
the Vision, Mission and Core Values. To further engage clients in a manner that
enhances care, support and respect, the Bank formulated and adopted a set of
four cardinal principles of engagement and has remained a preferred bank in
rural and urban communities because of the followings:
LAPO applies simple and flexible institutional process in delivering
quality and responsive products and services that meet the needs of
all classes of clients.
LAPO brings its services to the door-step of the clients by opening
branches in clients' neighbourhoods in rural and urban centres. This
reduces clients' cost of access.
LAPO's commitment to and investment in client relationship
management.
LAPO's pricing remains most competitive.
LAPO MIS has the capacity to capture process and provide data as
may be required by all stakeholders. The Bank report and publish its
activities with MIX Market (Microfinance Information eXchange).
Ensure Board, Management, and Employee Commitment to Social
Performance
Adequate steps have been taken to ensure commitment, among which include
the inauguration of the Environment, Social, and Governance (ESG) Board
committee in 2012 with the responsibility of reviewing the Bank's ESG practices,
monitor performance against agreed targets and make recommendations to
the Board on Environment, Social, and Governance Strategies. The bank's ESG
Management team implement social performance activities through regional
and branch offices and also to its clients. In ensuring commitment and
realization of the Social Performance Management, the bank established the
client relationship unit, endorsed the smart campaign and created the ESG unit
to drive the initiative with series of trainings and workshops for capacity
enhancement.
Protect Clients’ Rights
LAPO Microfinance Bank has adopted and embedded the seven principles of
client protection into her core business operations and has translated these
principles into policies, practices, products and attitudes. The bank has also
taken appropriate steps to deepen the realization of the objectives of these
principles. Steps taken are highlighted under social activities in this report.
Universal Standards for Social Performance Management: LAPO Experience
LAPO Microfinance Bank Ltd 09 2013 Sustainability Report
Design Products, Services, Delivery Models and Channels that meet
Clients' Needs and Preferences
LAPO Microfinance Bank seeks to assist clients to address various challenges
through introduction and development of new products, initiatives and
schemes. LAPO uses Progress out of Poverty Index (PPI) to monitor outreach
and track clients' progress overtime. Customer satisfaction survey also helps
LAPO to realize how to target clients as well as develop products that serve the
different categories of clients. The establishment of client relationship unit in
2007, management In-Touch initiative and management call log were all
centred on meeting with clients' needs. Reports generated from these exercises
and initiatives include the following:
Product delivery;
Staff attitudes;
Savings product pricing;
Competitors' strategies; and
Other suggestions and changes which they desire LAPO to effect.
Treat Employees Responsibly
LAPO Microfinance Bank realizes that organizational goals are achieved
through its people who share a common identity and a strong desire to excel.
Alignment of organizational goals and desires of staff is a strategy that ensures
team work, mutual satisfaction and excellent performance. Staff satisfaction is
better ensured through continues review and modification of policies and
procedures. The Bank conducts Staff Satisfaction Survey on annual basis.
Information generated from the process is analyzed and imputed into existing
processes to ensure an efficient operational policy that meets the needs and
welfare of staff. The provision of an enabling environment for the practice of
good staff welfare system was demonstrated in renaming Human Resources to
People Management in referring to the workforce as people rather than tools or
factors of production. The Bank ensures regular payment and upward review of
salary. In addition to salary, staff also benefit from payment of performance
bonuses which are very strong motivating factors to increase staff morale and
commitment. The Bank has commenced the implementation of contributory
pension since 2007 in line with the Pension Reform Act, every staff is registered
and the contribution is managed by licensed Pension Fund Administrators. The
Bank insures all staff under the Combined Employers Liability, Group Personal
Accident and Group Life Insurance. The combined effect of this is that each staff
is covered for twenty four hours for bodily injury and or death arising out of and
or in the course of employment.
Balance Social and Financial Returns
LAPO social performance management is a structured process that ensures
that social and economic goals of LAPO are continuously balanced. The Bank
social performance activities are carried out using two approaches: Integration
into the processes of LAPO Microfinance Bank and linkage approach by which
social services are provided by LAPO NGO. Social empowerment programmes
implemented by LAPO NGO includes HIV/AIDS prevention, care and support
programmes, legal aid, gender equity programmes, maternal and child health
activities, environmental and leadership training. In 2012 a five-year growth
strategic plan was formulated articulating our aspirations to expand outreach,
increase performance leadership through the revision of our operating and
service delivery model and institutionalize a people management strategy that
will not only promote customer-centeredness but also build strong teams within
staff. The focus of the strategy objectives include reaching 5 million clients by
2017, diversify clients segments to expand outreach; diversify existing products
and services; leverage on technology for efficient-based processes and
operations; increase savings mobilization; leverage on technology for efficient-
based processes; develop staff capacity to be better positioned to satisfy client
needs and create a good working environment.
Universal Standards for Social Performance Management: LAPO Experience
LAPO Microfinance Bank Ltd 10 2013 Sustainability Report
Summary and Conclusion
LAPO Microfinance Bank have developed and regularly refined its services,
delivery structures and operational procedures in order to meet the needs of all
our stakeholders. This has been made possible through implementation of
various initiatives and collaboration with reputable organizations towards
sustainability which are within the bank Environment, Social, and Governance
(ESG) initiative. The bank sustainability report for 2013 presents main activities
that were developed, improved on and achievements made towards achieving
“Triple Bottom Line Approach to Sustainability.”
Universal Standards for Social Performance Management: LAPO Experience
LAPO Microfinance Bank Ltd 11 2013 Sustainability Report
Environment
Environment
LAPO Microfinance Bank has implemented various initiatives towards
protection and preservation of our environment through various partnerships.
Among these, is the implemented in partnership with 'Clean Energy Lending'
Alithea Capital and Oando, a major oil and gas company. Alithea Capital
provided the fund, while Oando provided the cooking gas and cylinders. LAPO
Microfinance Bank provides loans to clients to buy small cooking gas cylinders
while some clients act as distributors. The objective of the product is to provide
more environment-friendly source of energy. Clients are encouraged to switch
from the use of firewood and kerosene to cooking gas. The product is expected
to make huge impact on tress conservation and reduces emissions, thereby
reducing diseases such as Asthma and Cancer etc. As at 31st December 2013,
we have disbursed a total of N135.2 million to clients to finance 21,021 units of
3kg O-Gas cylinders.
Another major step taken in this regard is LAPO Microfinance Bank partnership
with d-light, a for-profit social enterprise whose purpose is to create new
freedom for customers without access to reliable power supply. d-light
designs, manufactures and distributes solar light and power products
throughout the developing world. A total of N5.03 million was disbursed to
clients to finance 821 d.light solar lanterns. The benefits from d-light solar lamps
are highlighted as follows:
Safe and Healthy Homes: Kerosene lamps are key contributor to indoor air
pollution and have caused countless deaths by suffocation, burns and fatal fires.
d.light lanterns are extremely safe and use super-bright LEDs that do not emit
any pollutants.
Better Study Environment: The poor light quality and noxious fumes of
kerosene lanterns hinder children's ability to study effectively. d.light lanterns are
bright enough to facilitate lasting and more effective studying hours, which
directly lead to increased learning hours.
Income Generation: The bright and reliable solar light supports income-
generating activities such as farming and retail businesses/trading.
Client's Testimony
Mrs Maryam Abdullahi, joined LAPO in July 2010, she is married, and sells
cooked food. She resides at Tudun Murtala, Concer Yan Gana in Kano. She
shares her experience as follows: “d-Light has done great things in my life and
business; I have two d-Light lanterns, one inside the house and the other one
outside the house for my business to sell my food in the night. The brightness of
the lamp has attracted more customers, because it makes the place very bright
and conducive at night. Customers have shown interest in the lamp and I have
directed them to LAPO. I also use it to charge my phone; I do not buy candles
and kerosene for lamps again, thank God for LAPO.”
Mrs. Maryam Abdullahi at her place of Business with d.light as source of light
LAPO Microfinance Bank Ltd 1 2013 Sustainability Report 3
Social
Social
Poverty has different causes and manifestations such as poor health, social
exclusion and injustice. In realization of these challenges, LAPO Microfinance
Bank in partnership with LAPO NGO and other organizations seek to assist
clients to address these challenges suffered by clients through introduction and
development of new products, initiatives and schemes. Some social services are
provided by LAPO NGO which LAPO Microfinance Bank pays for, which
includes Health Sensitization, Maternal and Child Health, Reproduction, Health
and HIV/AIDS prevention, Water, Sanitation and Hygiene (WASH), Legal Aid,
Gender Equity and Social Justice, Social Change Advocacy, Mentoring of NGOs
and Quiz Competition.
Endorsement and Implementation of Client Protection Principles and
adoption
LAPO Microfinance Bank has adopted and embedded the seven principles of
client protection into her core business operations in order to ensure that clients
are protected against exploitation and unethical practices. The Bank has
translated these principles into policies, practices, products and attitudes and
has taken appropriate steps to deepen the realization of the objectives of these
principles. The seven principles with set of action taken by LAPO are highlighted
as follows:
These policies are highlighted as follows:
S/N
Client Protection Principles Set of Actions by LAPO
2.
3.
Prevention of Over-
indebtedness
Transparency
Small size of loans disbursed to first
borrowers and gradual increase in
the subsequent circles reflecting
the growing absorptive capacity of
their businesses.
No client is allowed to take more
than two types of loans.
Clients are advised during pre-loan
training not to divert loan funds to
other activities.
Extensive consultation with clients
when introducing new products
and services.
Proper business appraisal and
ve r i f i c a t i on p re cede s l oan
disbursement.
Pricing information are explained in
local languages and in manner
clients are familiar with.
All repayments/deposits are
proper ly recorded in c l ient
passbook.
Schedule of loan repayment are
made known to clients during pre-
l o a n t r a i n i n g a n d b e f o r e
disbursement.
1. Appropr ia te P roduct
Des ign and De l i ve r y
Channels
Repayments are scheduled weekly
or monthly to sui te c l ients '
economic activities.
Introduction of small business loans
to meet the funding needs of
clients with bigger businesses.
LAPO Microfinance Bank Ltd 15 2013 Sustainability Report
Other steps and actions taken as follows:
- Strengthening of the Client Relationship Unit.
- Implementation of Management In-Touch Initiatives.
- Management Call Log.
- Rates and charges are presented in a manner that clients can easily
understand and are displayed in all branch offices.
- Client Support Officers (CSOs) are required to treat clients with dignity and
courtesy.
- Client Support Officers are forbidden to accept gifts from clients.
- Clients' and staff satisfaction surveys must be conducted at regular
intervals.
- Clients' protection principles and policy are components of staff training
modules.
- Clients are taught the key elements of the client protection principle during
the mandatory pre-loan training.
- New credit unions must demonstrate adequate understanding of clients'
protection principle before the Union Credit Certificate and subsequent
disbursement are approved.
Client Relationship Unit
The Client Relationship Unit was established in 2007. The Unit amongst other
functions, designs and implements policies and guidelines to enlighten credit
staff on appropriate relationship with clients; and to receive and treat
complaints and concerns from clients. The Unit takes primary responsibility for
implementation of the client protection principles within LAPO. It manages
specific feed-back initiatives such as Management In-Touch and Client Call
Log.
Management In-Touch Initiative
This requires every member of LAPO management team to work in a branch
office for five working days in a quarter. This has been helpful in keeping touch
Responsible Pricing
Fair and Respectful
Treatment of Clients
Privacy of Client Data
Mechanisms for
Complaint Resolution
Avoid multiple charges, only two
items of charges that is, interest and
administration fee. Display of
charges in all branches.
Codified Staff Code of Conduct
distributed to staff members.
Incorporation of staff relationship
into staff training modules.
Appointment of Client Relationship
Officers.
Existence of Client 'Consent Form'
for use of photograph.
Regulations on disclosure of
transactional information of client.
Existence of client care lines.
Appointment of Regional Client
Relationship Managers.
Telephone numbers of Client
Re la t ionsh ip Un i t on c l i en t
passbooks.
Top Management staff make calls
t o c l i e n t s u s i n g r a n d o m l y
generated telephone numbers of
clients.
In-Touch visits to branches and
credit groups by members of the
Management Team.
Feedback sessions at Branch
Council meetings/forum.
4.
5.
6.
7.
Social
LAPO Microfinance Bank Ltd 16 2013 Sustainability Report
with activities at the field level including receipt and prompt treatment of
complaints and concerns of clients.
Management Call Log
Top Management staff members make telephone calls to clients using
randomly generated telephone numbers of clients. Issues discussed during
such calls include clients concerns and complaints around size of loans, pricing,
delivery and repayment, collection structure and procedures, filed staff attitude,
and their suggestions for improved service delivery. Analysis of responses is
carried out monthly by the Client Relationship Unit with the reports discussed at
Management meetings.
Sponsorship of Clients to Trade Fair
LAPO Microfinance Bank participated in the 2013 Lagos International Trade Fair,
a premier international trade fair held in Nigeria, organised by the Lagos
Chamber of Commerce and Industry (LCCI). The event took place from 1st to
10th of November 2013, at Tafawa Balewa Square, Lagos. One major objective
of the event for LAPO was to support our clients to showcase their wares and
our impact in the communities which we serve. Six LAPO clients were
sponsored to display their products and services at the fair which provided
them with the opportunity of reaching out to new customers and making large
sales. This is a reflection of our corporate social commitment of supporting
clients in the areas of marketing, exposure to new market and building a wider
network for business growth.
Client's Testimony
Omobayonle Olufemi Kenny, one of the beneficiaries of LAPO sponsorship to
2013 Lagos International Trade Fair. Kenny is married with children, a specialist in
the production of leather shoes, palm sandals and leather slippers since 1997,
he joined LAPO in 2010. He was given the opportunity to display his products at
LAPO Microfinance Bank stand at the fair at no cost. His workshop is at 14, Oja
Ale, Iperu Remo in Ogun State, Nigeria, while his showroom is located at Shop
8, Market Road, Oja Ale, Iperu Remo, Ogun State, Nigeria. He was so excited
with the support from LAPO and expressed as follows “I'm very happy and
grateful to LAPO for giving me the opportunity to display my products at the
fair at no cost; I made huge sales and new contacts.”
Kenny Omobayonle Displays Wears at Lagos International Trade Fair 2013
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LAPO Microfinance Bank Ltd 17 2013 Sustainability Report
Engagement of Clients' Children
LAPO Microfinance Bank believes in total support to all its clients. In addition to
provision of financial and social services, the Bank has gone further to engage
qualified children of clients. The objective of this process is to deepen relations
with clients and also a way of empowering households with gainful employment
which has been the practice for some time. In 2013, management developed a
more robust approach of identifying qualified children of clients through the
different regional offices and at the end of the exercise, a total of 62 qualified
children of clients were engaged.
Affordable Housing Scheme
LAPO Microfinance Bank does not only offer credit for economic activity but
equally encourages and assists clients in providing shelter. LAPO collaborated
with Lafarge (a major player in the cement production sub-sector) and French
Development Agency to provide affordable housing for low income
households at interest rate lower than that charged for loan for economic
activity. Technical services are provided to clients before and during
construction at no cost. The technical assistance enables clients to lower their
costs; choose their designs among a catalogue of designs and ensure that the
quality of the construction through selected construction materials meet the
required standard; as well as assist on construction supervision. The benefits of
the scheme to clients are highlighted as follows:
- Afford clients the opportunity to own a house.
- Save clients the risk of using business capital for housing project.
- Offer convenient model of building a house at affordable rate.
- Reduce cost to clients through competitive pricing.
- Allow clients make repayments which their cash flow structure can
accommodate.
- Offer clients technical services at no cost.
Other benefits accruable to clients in the long run are as follows:
- Increase quality of life and 'freedom' (no fear of the landlord
syndrome);
- Increase feeling of security and self-confidence;
- Increase social status;
- Reduce over-crowding;
- Access to improved basic services such as good source of drinking
water and better sewage system;
- Increase hygienic conditions and reduce possibilities of infectious
diseases and injuries;
- Increase in financial security as an asset investment for clients which
will appreciate in value over-time.
Client's Testimony
Mr. Adeogun Ajani Babatunde of 10, Ojodun Street, off Cinema Road, Batoro,
Sagamu, Ogun State, Nigeria. He accessed LAPO Housing Loan to complete
his building and expressed his excitement as follows: “I'm a civil servant with a
lovely wife and two children. I got to know about the housing loan scheme and
decided to apply. I met with the designated Client Support Officer who helped
me prepare all the necessary documents and the fund was made available. I
have now completed the building and moved into the house, and I'm now a
Landlord of a unique house, I'm very grateful to God and LAPO.”
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LAPO Microfinance Bank Ltd 18 2013 Sustainability Report
Insurance Services
LAPO Micro-insurance scheme was initiated to provide economic and social
protection for its numerous clients. The Bank in collaboration with Goldlink
Insurance Plc provide a range of insurance services which covers life, disability,
fire at the place of business and child birth. During the reporting period, a total
of 4,330 persons and households benefited from compensation from life,
disability, fire at place of business and medical as against 2,788 recorded in
2012. This represents an increase of 55.3%. A total of 2,356 clients received
compensation for delivery which amounted to N36.5 million, the beneficiary for
delivery represent 54.4% of the total number of beneficiaries. The sum of
N155.2 million was paid as compensation in 2013 representing an increase of
52.3% over that of 2012.
LAPO Microinsurance Beneficiary
Mrs. Ijeoma Ejimnkoenye a recharge card seller; joined LAPO on the 3rd of
October 2012. She delivered a baby girl on the 23rd of July, 2013 at a Primary
Healthcare Centre at Angwandodo, Gwagwalada, Abuja. She expressed her
excitement as follows: “I am grateful to LAPO for their assistance to us. It is rare
to find any bank that can support their clients to this extent. They are not just
interested in making profit from us, they also think of how to help us (clients), the
assistance from LAPO to clients is a proof that they really have regard for clients'
life and welfare and not just the profit made from clients. LAPO has greatly
played a key role in my life and that of my family, with the loan and the weekly
repayment method, it is so convenient. So long as I am in business, I will not
leave LAPO, am glad to be part of LAPO. I will want to use this money given to
me to meet my baby's needs.”
Adeogun Babatunde and Family at their Newly Completed Building
Mrs Ijeoma Ejimnkoenye a LAPO Microinsurance Beneficiary
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LAPO Microfinance Bank Ltd 19 2013 Sustainability Report
Violet Idehen a goat seller in Benin City, joined LAPO on the 24th of September,
2008. She share her experience as a beneficiary of LAPO Micro insurance: “I stcollected N500,000 loan from EDLS 1 branch and had paid for a period of
seven months before I had a motor accident on my way back from Ilorin market
where I purchase goats for sale. The first thought after being alive was how I was
going to pay back LAPO loan, so I called the Client Support Officer (Loan
Officer) in charge of my loan and informed her of what happened. All the
branch staff came to pay me a visit at the hospital. Although I was scared when I
sighted them coming at first, but they encouraged me and told me to stop
crying so that I can get well on time, and took my photograph while on the
hospital bed. Surprisingly, while still at the hospital, I was called that the loan
balance has been paid by the insurance company and I was even entitled to
some amount of benefit to off-set my hospital bill. I was speechless because I
never expected it. It was in December 2013 that I stopped using crouches.
Assuming the loan balance was not paid what would I have done? In fact, God is
good and LAPO has done well for me.”
Client Incentive Programme
As LAPO provides a mix of financial services to low-income earners and owners
of micro-enterprises, the Bank equally encourages and reward clients who save
towards the expansion of their businesses and exhibit good loyalty over time. In
2012, a total number of 4,388 clients across Nigeria were rewarded with
different gift items such as refrigerators, television set, pressing irons and
wrappers. In 2013, with massive awareness campaign, a total number of 12,392
clients were rewarded with various gift items.
Scholarship Scheme
LAPO instituted scholarship scheme in 2007 to provide support for clients to
send and retain their children in school. The scholarship scheme initially
covered the secondary school education of the awardees. In 2009, the scheme
was extended to empower children of orphanage homes. With the positive
impact of the scholarship scheme, LAPO Scholarship Board extended the
scheme to accommodate University Education with effect from 2012. An
additional 209 secondary school students and 30 students from various
universities across Nigeria have benefited from the scheme in 2013. A total sum
of N64.7 million has been paid as benefit since inception of the scheme.
LAPO Scholarship Beneficiary
Mrs Oluwasegun Olaiya John, a trader and the mother of Oluwakorede
Oluwagbenga Olaiya (scholarship beneficiary), joined LAPO in May 2006, it was
a tough experience for her especially sponsoring her son's education at the
Federal University Oye-Ekiti. When she was told about the scholarship scheme
programme for 2013/2014 academic session, she applied and her son scaled
through the selection process. She explained “All through the screening process
my son and I were in prayer and fasting and to my greatest surprise, I was called
upon that my child scaled through. Since then LAPO has been giving us
N100,000 which covers my son’s university needs. My Burden has been taken
away by LAPO and my son's dream of becoming an Electrical and Electronics Voilet Idehen a Beneficiary of LAPO Microinsurance Scheme
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LAPO Microfinance Bank Ltd 20 2013 Sustainability Report
Engineer would be realized. The truth is that the process of selection is what
makes me trust LAPO the more. It is only in LAPO that the poor can be fully
supported to get out of poverty.”
Education Centre, Benin City and other organizations to achieve success during
the year.
Mrs Olaiya and Son Oluwakorede LAPO Scholarship Beneficiary
Free Legal Aid Services
In Nigeria, most laws prohibiting discrimination against women are not properly
enforced so a lot of poor women are discriminated against and subjected to
humiliation and barbaric treatment. LAPO therefore offers them free legal
counselling and defend those unable to afford legal representation. In 2013,
LAPO Microfinance Bank through LAPO NGO sensitized 3,075 women on legal
issues and defended the rights of 26 others who were unable to afford legal
services. The LAPO NGO partnered with the Edo State Customary Court of
Appeal, Welfare Unit of Oredo Local Government and Catholic Counselling and
Legal Aid Sensitization
LAPO Quiz Competition
LAPO recognizes education as a potent weapon against poverty, and has since
2006 been organizing secondary school quiz competitions for the intellectual
development of youths in Edo State. The competition enhances students'
understanding of science subjects and current affairs, provides a platform for
teachers and students to exchange ideas and learning experience, develops
and inculcates the spirit of discipline and excellence amongst youths who are
the future leaders of the nation. Gloryland Group of Schools, Auchi, Edo state,
won the 2013 edition of the competition. The school defeated 61 public and
private secondary schools across the state who participated in the competition
held in collaboration with the Edo State Ministry of Education. Prizes won
include the prestigious LAPO Quiz Trophy, text books, science laboratory
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LAPO Microfinance Bank Ltd 21 2013 Sustainability Report
equipment, white boards, complete computer sets and other educational
materials.
bookkeeping, technical support, donation of materials/equipment, internship
programme for Rural Builders Organization and assessment visit to 10
protégés. This has placed them in a better position to respond more effectively
to issues on development.
Gloryland Group of Schools with the LAPO Trophy
Mentoring of NGOs
In 2013, LAPO mentored and strengthened the programmme delivery capacity
of 17 community development NGOs, in fulfilment of our corporate social
responsibility. Activities carried out during the year includes training on
NGO Mentoring session in Progress
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LAPO Microfinance Bank Ltd 22 2013 Sustainability Report
Health Awareness Activities
Integration of Health with Microfinance Services
There is no doubt that integrating health services with microfinance has added
benefits for clients, their families and the wider community. LAPO Microfinance
Bank solely funds health services delivered during credit group and branch
council meetings using specialized staff (parallel model). The organization
places emphasis on quality of service, especially when delivered by specialists.
In 2013, LAPO sustained her collaboration with Partners for Development,
Nigeria (PfD) to enhance access of clients in Edo and Delta states to
Reproductive Health information using both unified and parallel models
including the distribution of Information, Enlightenment and Education
materials.
The Integration programme has improved health knowledge as well as induced
positive behavioural changes amongst microfinance clients. The changes are
critically important for improving the health status and economic wellbeing of
the poor and low-income earners. Services rendered in this regard for 2013 are
highlighted as follows:
Health Sensitization during Credit Group and Branch Council Meetings
Women constitute over 90% of the Bank credit groups; they are low-income
earners, small scale entrepreneurs or petty traders. They are likely to practice
self-medication and delay the utilization of services in standard health facilities
because of their minimum level of health information and literacy. These clients
meet weekly for loan repayment while their leaders converge quarterly for
Branch Council Meetings. In year 2013, LAPO seized this opportunity to
provide sensitization services covering malaria, blood sugar, blood pressure,
breast and cervical cancers, hepatitis, maternal and child health, HIV/AIDS,
LAPO health screening for clients in Port HarcourtHealth Sensitization during Branch Council Meeting
in Badagry Branch, Lagos
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LAPO Microfinance Bank Ltd 23 2013 Sustainability Report
Prevention of Mother to Child Transmission (PMTCT) of HIV/AIDS and Water,
Sanitation and Hygiene (WASH). This has increased the knowledge of target
beneficiaries, with positive consequence on their preventive health behaviour
such as hand washing, uptake of antenatal care and child immunization, timely
management of acute health problems such as HIV, diarrhea and respiratory
infections, blood pressure and blood sugar, and prevention of terminal diseases
like AIDS and cancer. During the year, 29,437 clients and 10,090 union leaders
were reached through union and branch council meetings respectively.
Free Health Counselling and Screening Services
The earlier a health-care provider is able to diagnose a health condition, the
better the likelihood of a successful treatment. Early detection of many health
conditions and diseases can be life-saving. LAPO is therefore providing free
health counselling, screening and referral services to LAPO Microfinance Bank
clients towards promoting preventive health practices. A total number of 70,570 clients were screened during the year, out of which
2,600 clients were referred to health facilities for healthcare.
Training of Microfinance Clients as Health Agents
The training of significant members of LAPO credit groups as health agents is a
cost-effective strategy that has been adopted by the organization to reach
target groups and communities. This process ensures continuous provision of
information to community members for the development of appropriate
health-seeking behaviour. In 2013, LAPO trained 714 clients to enable them
provide basic health information and referral services to clients and community
members. This intervention has been associated with increase in health
knowledge and healthy practices such as uptake of antenatal and child care
In 2013, LAPO provided clients counselling, screening and referral services as
reported in Table 1 below:
Free Health Counselling and Screening Number of BeneficiariesS/No.
1. Blood Pressure Screening 35,860
2. Blood Sugar 13,051
Malaria 10,8833.
Hepatitis 5294.
HIV Counselling and Testing 10,2475.
Total 70,570
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Table 1: Number of Beneficiaries of Health Counselling,
Screening and Referral Services
LAPO Microfinance Bank Ltd 24 2013 Sustainability Report
Screening for Hepatitis B during Suleja Branch Council Meeting
services including the adoption of appropriate breastfeeding practices
amongst members of our target groups and communities.
Maternal and Child Health
Activities as it relates to maternal and child health are reported as follows:
Health Facility-based Sensitization
As part of our efforts to promote maternal and child health in target
communities, LAPO carried out monthly health sensitization across eight
Primary Health Centres in rural communities where we also worked during the
year. About 1,587 persons who visited the facilities for Maternal and Child
Health services were sensitized on issues of pregnancy care, infant care, child
immunization, breastfeeding, dangers of self-medication, malaria, cervical and
breast cancer, hand washing and Prevention of Mother to Child Transmission
(PMTCT), etc. The programme has further boosted the confidence of
community members on the services provided in the facilities.
A cross section of participants at 2013 International Women's Day Celebration
Health Facility-based Sensitization and assessment visit
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LAPO Microfinance Bank Ltd 25 2013 Sustainability Report
Community Development Associations
Working with Community Development Associations is one of LAPO's
intervention strategies to ensure programme sustainability even after we may
have advanced to other communities. In 2013, LAPO worked closely with
Umunede Community Health Committee in Delta State to deliver community-
based health services and mentored 16 of their members.
Health Facility Development Programme
The Nigerian health sector is characterized by fragmented health service
delivery, inadequate and inefficient financing, weak health infrastructure and
mal-distribution of health work force. Consequently, the health care system is
unable to provide basic, qualitative, cost-effective and accessible Maternal and
Child Health (MCH) care services especially at community levels. This has
resulted in unacceptable cases of maternal, infant and child mortality. LAPO
health facility intervention is therefore aimed at strengthening target centres for
high quality Maternal and Child Health services thereby ensuring low morbidity
and mortality rate for infants, children and pregnant mothers in highly
vulnerable communities. During the year, LAPO partnered and conducted
health facility assessment visits to Utese and Iguiye Primary Health Centres in
Ovia North-East Local Government of Edo State. The participatory assessment
was performed with the full participation of the Primary Health Care
Coordinator and the healthcare providers in facilities. The assessment report
was submitted to relevant authorities, matrons and traditional heads of the host
communities for a common understanding of identified gaps, intervention and
shared roles.
Reproductive Health (RH) and HIV/AIDS Prevention and Mitigation
Poor reproductive health (RH) exacerbates poverty and perpetuates the cycle
of inter-generational poverty. It reduces economic productivity and financial
earnings, constrains investments in children education, promotes malnutrition
and leads to untold family suffering. Poverty also aggravates poor reproductive
health, increases risky sexual behaviours which further fuels the spread of HIV
infection and other Sexually Transmitted Infections (STIs) in the country. LAPO
therefore promotes RH and HIV/AIDS intervention amongst various groups.
2013 activities are reported as follows:
World AIDS Day
LAPO celebrated the 2013 World AIDS Day on December 1, with community
sensitization focusing on HIV Counseling and Testing (HCT) towards curtailing
new HIV infections and halting the development of AIDS among those already
infected but unaware. Four community sensitization sessions, reaching 382
persons were organized to mark the event.
Social
World Aid Day 2013 celebration in Delta State
LAPO Microfinance Bank Ltd 26 2013 Sustainability Report
Workplace Policy on HIV/AIDS
LAPO has published workplace policy on HIV/AIDS, the manual which agrees
with the ILO principles and the National Workplace Policy of the Federal Ministry
of Labour, enunciates the policy of the LAPO Group concerning HIV/AIDS issues
as it affects staff. During the year, new staff members were sensitized and
received free copies of the policy.
Water, Sanitation and Hygiene (WASH)
Poor access to water and sanitation facilities, and unsafe hygienic practices are
the main causes of diarrhoea, one of the world's major child killers. WASH is
regarded as a central component of health and socio-economic development
as progress in this area is closely related to child mortality, primary education,
and poverty eradication. LAPO fully agrees with Ban Ki-moon, UN Secretary-
General, that “Safe drinking water and adequate sanitation are crucial for
poverty reduction, crucial for sustainable development, and crucial for
achieving any and every one of the Millennium Development Goals.” In
2013, LAPO promoted WASH amongst target beneficiaries, majority of whom
are low-income earners with children who are vulnerable to diarrhoeal
diseases. Major events for 2013 in this regard are as follows:
World Water Day
The March 22, 2013 World Water Day which theme was "Community
Cooperation for Safe Water" provided LAPO the opportunity to raise
awareness on the importance and benefits of communities working together to
protect communal sources of water. We organized seminars in eight
communities where over 477 persons were reached with information on safe
water and the need for cooperation to protect community sources of water.
Global Handwashing Day
LAPO sensitized school children in target communities on the importance of
handwashing during the 2013 Global Handwashing Day tagged “The power is
in your hands”. 411 school pupils received information and training on proper
hand washing with emphasis that health can be improved by washing hands
with soap especially after using the toilet, before eating, after cleaning and
before feeding the baby. Children were particularly targeted because they
remain a potential agent of behavioural change among friends and members
of their families.
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2013 Global Handwashing Day: LAPO Sensitization of School Children
World Toilet Day
LAPO observed the November 19, 2013 World Toilet Day (WTD) to break toilet
taboos and draw attention to the global sanitation challenge and the health
implication of two-third of world's population defecating openly. Participatory
discussion sessions, facilitated by environmental health unit personnel of local
governments, were held in five localities during which 253 persons were
mobilized to promote safe defecation in their communities.
LAPO Microfinance Bank Ltd 27 2013 Sustainability Report
Government on Social Mobilization, Mrs. Victoria Amu canvassed equal
opportunities for women, especially in appointive and elective positions. She
said extant laws which prohibits discrimination against women must be
enforced to enable them actualize their dreams and aspirations in life.
Integration of Social Education with Microfinance Services
As a community development driven organization, LAPO has fully integrated
social education with its microfinance services. The beauty of the programme is
that microcredit clients are also empowered with social information during
regular branch council and union meetings. During the year, LAPO reached out
to 33,217 persons under the integration programme with 25,840 of them as
women representing 77.8% of the total persons empowered. Issues discussed
include:
- Participation,
- Leadership and Decision making,
- Widowhood Rite and Inheritance,
- Teenage Pregnancy,
- Child Marriage,
- Domestic Violence,
- Female Trafficking,
- Prostitution,
- Rape,
- Divorce/Separation and
- Self-Esteem, etc.
Gender Equity and Social Justice
In 2013, LAPO promoted gender equality and tackled violence against women.
Our goal was to bring about changes that will help to reduce gender based
discrimination and violence against women. Gender Equity and Social Justice
events and activities for 2013 are as follows:
International Women's Day Celebration
International Women's Day (IWD) is celebrated on March 8 yearly, to appreciate
and recognize the economic, political and social achievements of women
globally. LAPO marked the event with solidarity rallies and seminars across the
country with over 618 participants. In a paper titled: “The Corner Stone
Becoming the Builder's Strength.” Special Adviser to the Edo State
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28 2013 Sustainability Report LAPO Microfinance Bank Ltd
LAPO Commemorates International Women’s Day
Micro Business Management Training
LAPO strengthens the capacity of micro-business owners with her business
management training programme. About 1,021 persons benefitted from the
exposure programme during the year. Topics discussed include business
planning and management, marketing, expenditure and pricing, customer
relation and record keeping.
LAPO Outstanding Women Leadership Award
LAPO has over the years worked for the recognition of women's contribution to
societal development. In 2013, it instituted the LAPO Outstanding Women
Leadership Awards which honours and celebrates women who have
distinguished themselves in their various business organizations with
sustainable social impact. The beneficiaries of the 2013 maiden edition of the
awards are Bawa Victoria Kuchume, the CEO of Jinji Integrated Services Ltd,
Abuja, Princess (Mrs.) Katherine Aiyevbekpen Oronsaye, founder of Oronsaye
Orphanage Home in Benin City and Mrs. Grace Idaehor Osakue, the
coordinator of Girls Power Initiative (GPI) and principal of Asoro Grammar
School, Benin City. They won the awards under Business, Public Life and
Professional categories respectively.
Social
LAPO Micro Business Management Training: Deborah Guzo receiving certificate of
participation from Godwin Ehigiamusoe, LAPO MFB CEO
LAPO Adult Literacy Programme
LAPO believes that integrating functional literacy with credit services will
enhance women's ability to control their income. Under its adult literacy
programme, the organization equipped eight illiterate women with basic
reading and writing skills during the year. A lot of them were hitherto denied
access to formal education.LAPO Outstanding Women Leadership Award recipients with MD and wife
LAPO Microfinance Bank Ltd 29 2013 Sustainability Report
Social Change Advocacy
There are various programmes for Social Change Advocacy in 2013. The
programmes are as follows:
LAPO Annual Development Forum
The 20th edition of the LAPO Annual Development Forum was held in
November 2013 under the theme, “Ending Extreme Poverty in Nigeria: Issues
and Way Forward.” The Forum drew over 106 participants from the civil society,
government, academia and women groups who dissected the papers
presented by Professor R.A. Anao of the Benson Idahosa University and Dr.
Henrietta Agun, Executive Director, Women Action Initiative, who spoke
respectively on Value Reorientation: Tool for Addressing Poverty in Nigeria and
Role of Public-Private Partnership in Poverty Reduction in Nigeria. In a 10-point
communiqué issued at the end of the deliberations, the forum recommended
steps to achieve societal development, justice, peace and prosperity in Nigeria.
Bridging-The-Gap (BTG) TV Programme
In 2013, LAPO drew public attention to issues in development via its popular
30-minute weekly BTG TV programme. The 52 editions of the programme aired
on Independent Television (ITV) Benin City, during the year featured discussions
on security challenges, affirmative action for women, youth and enterprise
development, health sector reforms and economic empowerment. BTG is
increasingly gaining popularity as an advocacy tool through which nagging
social problems are put on the front burner for public discourse.
The Isekhure of Benin Kingdom, Chief Noahkare Isekhure,
making contributions during the 20th Annual Development Forum organized by LAPO
Sabina Idowu-Osehobo (l) with guest,
Jane Osagie on a Bridging-The-Gap (BTG) TV show
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LAPO Microfinance Bank Ltd 30 2013 Sustainability Report
LAPO-In-Focus Radio Programme
During the year, the LAPO-In-Focus radio programme was aired on Bronze
101.5 FM station in Benin City to increase access to development information as
well as strengthen grassroots voices. Issues addressed with the 26 editions of
the programme in 2013 include women's rights, water and sanitation,
governance, agriculture, economic empowerment, safe motherhood, teenage
pregnancy, early marriage, food and nutrition.
Communication for Development
LAPO reinforced social and health education campaign amongst clients during
the year with her culturally sensitive Information, Enlightenment and
Communication (IEC) materials. In 2013, two editions each addressing Health
Awareness and Gender Empowerment were published and distributed
amongst clients and communities. The publications addressed issues in
HIV/AIDS, gender inequity, property inheritance rights, maternal and infant
health and micro-business management. Handbills on environmental
preservation/flooding were also distributed during the year.
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LAPO Microfinance Bank Ltd 31 2013 Sustainability Report
Social
Christiana Ukpebor: “I Have Realized My Dream”
No of Children: Seven
State of Origin: Edo State, Nigeria
Location: Benin City
Year joined LAPO: 1993
LAPO Branch: Benin 1
Union: Eghosa 1
Business: Trading in Foodstuff
Mrs Christiana Ukpebor's main purpose of engaging herself in foodstuff
business from the very beginning was to enable her raise sufficient funds to
support the welfare and educational development of her seven children.
Denied access to basic education due to poverty and archaic culture, she was
determined to give her children the best “so that they can become great and
successful people in future.”
Today, she is happy that this aspiration has been fulfilled. She has been able to
give most of her children university education with good jobs. Amongst them is
Mr. Victor Ukpebor, a staff of LAPO in Ogbe Branch, Benin City. She is also a
proud owner of a large expanse of land where she is currently building a house
that will serve as her permanent place of residence.
Mrs Christiana Ukpebor attributes the successful realization of her childhood
dream to the support of LAPO over the years. Her first LAPO loan in 1993 was
N5,000 The promptly repayment of the loan necessitated the disbursement of .
her second loan of N10,000. As usual, she went into village markets with her last
loan of N200,000 to purchase a variety of food items in large quantity for sale in
the city at higher rates. In 2013, LAPO rewarded her with a giant refrigerator as
one of the oldest and active clients.
Before LAPO revived her petty foodstuff business, she said her entire household
depended on her husband's meagre income. “Increase of my contributions to
servicing the family budget,” she says, “gave me greater voice and recognition in
the home.”
On the whole, Mrs. Christiana Ukpebor enjoys her relationship with LAPO and
express appreciation for other benefits that have accrued to her by virtue of her
membership. “LAPO has made a great impact in my life and family. I
probably would have been forced to relocate to my village out of hunger and
poverty by now if not for the support of LAPO,” she declares.
Our Impact: We don’t only provide Financial and Social Services but also engage qualified Clients’ Children with job opportunities.
LAPO Microfinance Bank Ltd 32 2013 Sustainability Report
LAPO 2013 Impact Assessment Report
The clients' demographic statistic reveals a negative increase in the number of
male clients from 239 (9.2%) in 2012 to 172 (12.2%) in 2013. In contrast, female
membership (87.8%) dropped by 3% from the previous year (90.8%).
The age structure and composition shows that over 73.1% of LAPO's clients are
within the ages 29 – 50. By implication, LAPO clients are very active since this
fall within the active labour age of any country. Also as clients' age progresses,
the number of client above 50 years diminishes suggesting that ageing clients
retire or dropout of the credit programme.
Table 2: Poverty Indicators
LAPO Microfinance Bank Ltd 33 2013 Sustainability Report
The LAPO impact assessment is an evaluation of the Bank's financial and social
service contributions towards poverty reduction amongst its clients. As with
every impact assessment, a pre (2012) and post (2013) evaluation were
conducted to ascertain the changes in poverty reduction of sampled clients.
The impact assessment was conducted across LAPO operational regional
offices: Abuja, Alimosho, Calabar, Delta, Edo, Enugu, Ibadan, Ikorodu, Kano,
Lokoja, Ondo, Osogbo, Port Harcourt and Surulere.
A total of 1,411 clients were interviewed from the selected branches. LAPO's
participation and loan application forms with poverty indicators were used to
assess the poverty status of client at entry point, changes in loan cycles and exit
from the credit programme. Quantitative data were generated to explicate the
contributions of social empowerment programmes on clients' welfare.
The 2013 impact assessment of LAPO clients captured 60% (1,411) of the total
sampled clients (2,596) investigated the previous year. The reduction in sample
size is largely attributed to client's relocation. Findings from a recent study
(Clients Unmet Service Needs, 2013) indicate that relocation (42.6%)
constitutes one of the major reasons for client attrition. The table below shows
the socio-demographic characteristics of LAPO clients.
Table 1: Socio-demographic characteristics of LAPO Clients
Sex:�� � Male
� � � Female
Total
Characteristics2013
Frequency Percentage (%)
2012
Frequency Percentage (%)
172
1239
1411
12.2
87.8
100.0
239
2357
2596
9.2
90.8
100.0
Age:� � � 18-28
� � � 29-39
40-50
51-61
Above 62
Total
77
480
551
165
39
1312
5.5
34.0
39.1
11.7
2.8
100.0
51
2320
225
0
0
2596
51
89.4
8.7
0
0
100.0
HouseholdMembership: �TwoThreeFourFiveSix or seven� � �Eight and aboveNo Response
Total
Characteristics2013
Frequency Percentage (%)
2012
Frequency Percentage (%)
50 �11651804652620
1411
3.5 �8.236.7033.018.60
100.0
0 �000348
8140
2596
0 �00031.455.213.4
100.0
LAPO 2013 Impact Assessment Report
LAPO Microfinance Bank Ltd 34 2013 Sustainability Report
No. of householdmembers in school:Not at allNo. of children aged 6-18All
Total
Type of flooring
material:
Earth/mud or
dirt/straw
Wood, tile, plank,
concrete or others
Total
Type of roofingmateria: Mud/mud bricksThatch (grass or straw)Wood/Bamboo,corrugated iron,sheet, cement/concrete,roofing tiles or others
Total
Main source ofdrinking water:Unprotected well/rainwaterVendor, truck, protected well, river, lake, or pound Treated pipe-borne water, borehole/handpump or others
Total
271 �302838
1,411
127
1,284
1,411
3917
1,355
1,411
132
308
973
1,411
19.221.459.4
100.0
9
91
100.0
2.81.2
96
100.0
9.4
21.7
69.0
100.0
631�6951270
2596
156
2440
2596
1222
2562
2596
223
582
1791
2596
24.326.848.9
100.0
6.0
94.0
100.0
0.50.8
98.7
100.0
8.6
22.4
69.0
100.0
Type of toilet:Pail/bucket, coveredpit latrine, ventilatedimproved pit latrine,other or noneToilet on water, orflush to sewer orseptic tank
Total
Household
ownership of TV:
Yes
No
Total
Household ownership of radio:
Yes
No
Total
Household ownership ofmattress/bed:
Yes
No
Total
Household ownership of stove:
Yes
No
Total
604 �
807
1,411
1267
144
1,411
1092319
1,411
1369
42
1,411
1288
123
1,411
42.8
57.2
100.0
89.8
10.2
100.0
77.422.6
100.0
97.0
3.0
100.0
91.3
8.7
100.0
1294�
1302
2596
2219
377
2596
1958638
2596
2489
107
2596
2292
304
2596
49.8
50.2
100.0
85.5
14.5
100.0
75.424.6
100.0
95.9
4.1
100.0
88.3
11.7
100.0
LAPO 2013 Impact Assessment Report
LAPO Microfinance Bank Ltd 35 2013 Sustainability Report
Fig 1| Impact of LAPO Microfinance Services on Client Poverty Status
This reduction in poverty status is strongly linked to LAPO 2013 branch
expansions, introduction of customer friendly loans and savings products.
Unlike 2012 impact, female clients witnessed 43% more poverty reduction than
their male counterparts. Also, about 3.8% of the women shifted back from
average poor to the poorest. These were women who became victims of the
ecological disasters, government urban renewal drive, and loss of business to
fire etc.
The 2013 impact assessment also revealed that LAPO's financial and non-
financial programme increased the income and social status of its clients. The
impact of micro-credit on the clients´ poverty status was very significant such
that about 86% of clients moved from the rank of poorest and poor to less poor
and least poor members of the society. This is significant when compared with
the 71% of members that moved from the rank of poorest and poor to less and
least poor of their communities in 2012. The figure below shows the impact of
LAPO's micro-credit on clients' poverty reduction
Governance
Governance
An effective management of people is of utmost importance to the operations
of LAPO Microfinance Bank. The Bank seeks equal opportunity for all staff,
structured capacity development programme, adequate reward and
performance management. The Bank promotes an environment free from all
forms of harassment, victimization or discrimination on the basis of gender, age,
religion, tribe or race.
The Board of Directors
LAPO Microfinance Bank board of directors is committed to achieving and
maintaining best practices in corporate governance by ensuring accountability
through mechanisms that promote transparency and risk management. The
Microfinance Bank's governance philosophy is hinged on its internal
governance framework, which is executed through the three primary organs:
The Board of Directors, Board Committees and Management Committees. The
Microfinance Bank business is driven by the Board through the activities of its
committees. The Board consists of five Non-Executive Directors and one
Executive Director. One of the Executive Directors is the Board Chairman of the
Board. The Board operates through the following committees:
(1) Credit and Risk Management Committee
(2) Finance and General Purpose Committee
(3) Audit Committee
(4) Environment, Social and Governance Committee
The board ensures that directors possess the skills, knowledge and experience
necessary to fulfil their obligations. The directors bring a balanced mix of
attributes to the board, including: International and local experience;
operational experience; knowledge and understanding of both
macroeconomic and microeconomic factors affecting the Bank; local
knowledge and networks; and financial, entrepreneurial and banking skills etc.
Establishment of Environment, Social and Governance (ESG) Board
Committee
LAPO Microfinance Bank's ESG initiative led to the constitution of the ESG Board
committee. This confirms the Bank's commitment to the Universal Social
Performance Standards and sustainable microfinance. It is also an additional
effort of enhancing social performance and indication of declaration of
commitment to conservation of the environment. The Board Committee was
constituted on the 16th of November, 2012 with the responsibility of reviewing
the Bank's Environment, Social and Governance practices, monitoring
performance against agreed targets and making recommendations to the
Board on Environment, Social, and Governance Strategies. The committee
initially comprises of four members and subsequently increased. As at 31st
December 2013, it comprised of six members as follows:
Osaretin Demuren - Chair (Female)
Godwin Ehigiamusoe - Managing Director (Male)
Moses Ehigiamusoe - Associate Director, Corporate Services (Male)
Cynthia Ikponmwosa - Head, Corporate Affairs (Female)
Kenneth Okakwu - Head, Strategy & Business Development (Male)
Brandie Stevens-Igbe - Head, Environment, Social and Governance
(Female)
The gender composition is 3:3 - a balanced gender composition, that is, three
female and three male members.
LAPO Microfinance Bank Ltd 37 2013 Sustainability Report
Profile of Committee Members
LAPO Microfinance Bank Ltd 38 2013 Sustainability Report
Governance
Osaretin Demuren joined the Board in 2012 and
chairs the ESG committee. She holds Master's
Degree in Economics and Statistics from the
Moscow Institute of Economics and Statistics. She is
a member of the Chartered Institute of Personnel
Management of Nigeria and the Chartered Institute of
Bankers of Nigeria. She had a successful career spanning
of over thirty years at the Central Bank of Nigeria and retired as Director of
Human Resource.
Godwin Ehigiamusoe is acknowledged microfinance
practitioner who began his engagement in rural
finance as a cooperative officer in mid 1980s. He
later founded Lift Above Poverty Organization
(LAPO), a pro-poor development organization. Mr.
Ehigiamusoe has attended capacity enhancing
courses at Lagos Business School, INSEAD Business
School, IESE Business School and Kennedy School of Government. He holds
a Master's degree in Development Studies. He has authored
Understanding NGOs (1998); Poverty and Microfinance (2000) and Issues
in Microfinance: Enhancing Financial Inclusion (2011).
Moses Ehigiamusoe holds a B.Sc (Ed) in Accounting
and Masters in Business Education. He joined LAPO
in 1994 as a Branch Manager and is presently
working as Associate Director, Corporate Services.
He is an Associate member of the Nigerian Institute
of Marketers.
Cynthia Ikponmwosa is a graduate of the Ambrose
Alli University, Ekpoma. She has worked with
Akintola Williams Deloitte, Lagos and she is
secretary to the Board of the Microfinance Bank
and also heads the Corporate Affairs Department.
Kenneth Okakwu studied Sociology at the
University of Ibadan and holds a Ph.D and M.Sc in
Social Demography with special focus on poverty
alleviation through microfinance ser vices,
H I V / A I D S / re p ro d u c t i v e h e a l t h , w o m e n
empowerment, gender, education, governance and
civil society. He taught Sociology briefly at the University of
Benin and has conducted several researches on poverty alleviation,
HIV/AIDS, reproductive health and women empowerment. He has trained
several programme officers in Non-Governmental Organizations (NGOs)
and Microfinance Banks on monitoring and evaluation as well as impact
assessment of microfinance services on clients' socio-economic status and
health seeking behaviour. He is Head of Strategy and Business Development
at LAPO Microfinance Bank.
Brandie Stevens-Igbe holds a Bachelor degree in
Internat ional Tour ism and Human Resource
Management and a Master's degree in International
Tourism and Hospitality Management in London. A
highly motivated professional, Stevens-Igbe brings
with her a wealth of experience in customer service
with special ized ski l ls in sustainable tourism
development, organizational sustainability, events planning
and management as well as strategic development and execution.
ESG Committee Terms of Reference
ESG committee terms of references is design to address the environment,
social and governance indices that would support and promote LAPO
sustainable banking practices without leaving any recognised and
unrecognised consequence on LAPO's target market or the entire
environment. The ESG terms of reference are stated below:
1. Periodically review the vision, mission and institutional values, of LAPO
Microfinance Bank's polices and practice as it relates to environment, social
and governance objectives and review compliance against agreed target
by the Bank.
2. Keep under review, the individual elements of the overall Environment,
Social, and Governance Management (ESGM) strategy with respect to
Community, Environment and Workplace, including and not limited to,
reviewing at least once a year the following policies:
Social Performance Policies (Client Protection, Microfinance Universal
Social, Performance Standards).
Environmental Protection and Conservation Policies.
Health and Safety Policies.
Gender and Diversity Policy.
Corporate Social Responsibility.
3. Advice the Board on Environment, Social, and Governance Management
(ESGM) strategies and policies and ensure that the recommendations are
in compliance with the implementation of these policies.
4. Review its own performance, constitution and terms of reference to ensure
it is operating at maximum effectiveness and recommend any change it
considers necessary to the Board for approval.
5. Keep under review internal and external ESG communication.
6. Engage local and international liaison on Environmental and Social
activities.
Staff Welfare
LAPO Microfinance Bank has always placed high premium on staff welfare in
terms of policy and actual practice which is hinged on the central belief in the
understanding of the importance of staff in pursuance of organizational goals.
The Microfinance Bank goals are achieved through its people who share a
common identity and a strong desire to excel. Alignment of organizational
goals and desires of staff is a strategy that ensures team work, mutual
satisfaction and excellent performance. Staff satisfaction is better ensured
through continues review and modification of policies and procedures. The
Bank conducts Staff Satisfaction Survey on annual basis; information generated
from the process is analysed and imputed into existing processes to ensure an
efficient operational policy that meets the needs and welfare of staff. The
provision of an enabling environment for the practice of good staff welfare
system was demonstrated in renaming Human Resources to People
Management in referring to the workforce as people rather than tools or factors
of production. Some welfare practices in place in LAPO are highlighted as
follows:
Reward and Incentives
LAPO Microfinance Bank has a number of incentives to attract, reward, develop
and retain staff for the achievement of its business objectives. The reward policy
is based on contribution by staff which could come in form of promotion,
institutional bonus and performance bonus. In 2013, a total of 443 staff were
promoted as a result of hard work, commitment and dedication to duties. Based
on the bank's performance for 2012, institutional performance bonus was paid
Governance
LAPO Microfinance Bank Ltd 39 2013 Sustainability Report
to all staff in 2013. In addition to the institutional performance bonus, a total
sum of N59.3 million was paid to 1,523 Client Support Officers as incentive for
massive clients' recruitment in 2013.
Treatment and Protection/Insurance
LAPO Microfinance Bank ensures strict compliance with regulations regarding
staff welfare, creation of conducive working environment and offers very
competitive and performance based remuneration. Pension and insurance
benefits are also provided for all staff, such as the Combined Employers Liability,
Group Personal Accident and Group Life Insurance. The combined effect of this
is that each staff is covered for injury and or death arising out of and or in the
course of work. The Bank ensures that staff are aware of health and safety
regulations and the need to report all accidents to appropriate authorities.
There exists staff complaint/grievance policy and procedure designed to deal
with disputes effectively and resolve such issues in a constructive and effective
manner, thereby reducing the risk of future occurrence. This policy reinforces
the institution's commitment to provide a safe and amicable workplace for all
employees.
Training and Capacity Development
LAPO Microfinance Bank has annual training plan for employees which cover
structured training programmes tailored to specific job roles and specialized
trainings as the need arise. With total staff strength of 3,184 in 2013, 2,345 staff
received training in various fields of the Bank activities, representing 73.7% of
total staff strength. In addition to provisions for training and development of
staff, the Bank also contributes to training and development of Nigerians who
are in various tertiary institutions of learning through acceptance of students on
Industrial Training for specific periods ranging from 3 to 12 months period. The
students are also supported financially for the period of the training. This is in
addition to payment of training contributions to the Industrial Training Fund.
The LAPO/AFOS multifaceted capacity development project which focused on
Management Trainee Graduates, Invited Staff and Guest at the Graduation Ceremony of Management Trainees
enhancing LAPO's capacity to effectively and efficiently manage its anticipated
exponential growth graduated 9 management trainees after a 12-month
programme. The programme, unveiled in October 2012, exposed trainees to
top management and leadership principles and practices designed to equip
them to face challenges of managing financial institutions. The graduation
ceremony was held on the 19th of November 2013 at Best Western Hotel. A
Talent Pool Management programme designed to identify and develop staff
with demonstrated potentials for higher responsibilities was launched at the
event; 25 staff members have commenced the program which is expected to
run for a period of over 12 months. The Talent Pool Management Program will
focus on providing a combination of managerial competency and right values
required for superior corporate performance.
Governance
LAPO Microfinance Bank Ltd 40 2013 Sustainability Report
Summary of LAPO MFB 2013 Staff Satisfaction Survey Report
Employee retention and satisfaction are important concerns for any
organization. Organizations that can create highly motivated work
environments attract and retain hard-working individuals; and are better
positioned for success in a competitive business environment that demands
cost-efficiency and quality. Considering the growing workforce in LAPO
Microfinance Bank, management is committed to ensuring that all employees
are motivated to contribute to the overall success of the Bank. The Microfinance
Bank staff satisfaction survey is expected to generate the information required
to inform management decisions appropriately.
Survey Objectives
The broad objective of the Staff Satisfaction Survey is to provide top
management of LAPO Microfinance Bank with specific issues affecting
employee satisfaction. The purpose of the survey is to:
- Identify job satisfaction levels
- Measure employees' perception of the work environment
- Identify areas of strength and opportunities for improvement
Methodology
Survey Development Team
The survey was developed by the Research and Publication Unit at LAPO
Institute for Microfinance and Enterprise Development (LIMED) with technical
support from the Strategy and Business Development Unit at LAPO
Microfinance Bank. Following a review of the existing literature and a contextual
analysis of LAPO Microfinance Bank, the survey design, sampling method and
size, and the structure of the data collection instruments were determined. The
research team set a response benchmark of 70% as healthy for the survey.
Survey Design and Study Area
The scope of the survey covers employees of LAPO Microfinance Bank
excluding employees of its sister organizations. The survey adopts a descriptive
research design and employs quantitative as well as qualitative data collection
techniques. This is also backed by the idea that some elements of satisfaction
are better described than quantified. The survey was designed for all categories
of employees to deliver robust quantitative measures and also elicit quality
insight. The survey was carried out in the 14 LAPO regions. While the
quantitative survey was conducted across all 14 regions, the qualitative survey
was spread across 4 regions: Abuja, Edo, Enugu and Lagos.
Sampling Techniques and Sample Size
Overall, multi-sampling techniques were adopted for the sampling of regions,
branches and employees. For the qualitative survey, sampling at the head office
was done by stratifying employees into management, senior and junior staff. At
the regional level, stratified sampling was employed in selecting regions
according to the Nigerian geo-political zone classification. Lagos (Ikorodu
region) was selected for the South-West; Enugu (Enugu region) for the South-
East; Abuja for the Central and North-West, and Edo region for the South-
South geo-political zones respectively. Branches were randomly selected from
the list of all branches in the region. Regional employees were selected by
stratifying employees into field supervisory officers – Regional managers, Area
Managers, Branch Managers, Client Relations Officers; Field Officers (Client
Support Officers), Loan Officers, Special Loan Officers; and others – MIS. On the
other hand, the quantitative survey covered all regions. Branch selection and
employee selection were same as the qualitative survey.
Data Collection Technique
Primary and secondary data were obtained from the Head Office, Regional
Offices and Branches. Primary data were collected through a structured staff
satisfaction questionnaire (quantitative) and structured in-depth interviews
(qualitative). The data collection instruments were designed based on the
criteria that they are easy to read and understand, concise and easy to
LAPO Microfinance Bank Ltd 41 2013 Sustainability Report
complete, and that they measure specifics of the employee's work environment.
The questionnaire includes 21 sections generating both quantitative and
qualitative information for satisfaction analysis. The first 2 sections provide
information on employee demographics - employee unit/department, current
rank, current position, gender and their length of service. The next 13 sections
contain question which capture the 10 satisfaction concepts identified in the
Herzberg's motivation theory. The final 6 questions cover employee retention
as well as employee overall satisfaction with LAPO as well as their job.
Respondents expressed their level of agreement using a three point scale -
Agree, Neither Agree nor Disagree and Disagree OR Satisfied, Neither Satisfied
nor Dissatisfied and Dissatisfied - to compute the rating index on each of the
indicators except for question nine that required a YES or NO response. The
interview survey guide was designed to obtain a descriptive perspective of
factors that influence LAPO employee satisfaction.
Data Analysis
Qualitative data (in-depth interviews) were analyzed using content and context
analyses. Quantitative data (questionnaires) were analyzed using frequency
distribution, percentages and cross-tabulation to identify staff satisfaction levels
and establish the relationship between employee characteristics and
satisfaction levels. The analysis was done with the Statistical Package for Social
Sciences (SPSS). A total of 1400 survey questionnaires and 168 interview
responses were analyzed in this report.
Ethical Consideration
All ethical considerations guiding the conduct of social investigation were fully
observed. Participants were fully informed of the purpose of the research and
their consent duly obtained. All respondents were treated anonymously to
avoid confrontations and reprisals from colleagues or superiors.
Limitations of the Study
The survey did not capture the entire work group of the organization.
Consequently, all inferences in this report reflect only the result from the
stratified sampling. It used three-scale and two-scale measures to assess
employee satisfaction. It cannot be ruled out that a more sophisticated
measurement approach (with more scale items) would have resulted in higher
correlations, given that low reliability may attenuate correlations between the
variables.
Findings
A satisfied employee is a productive employee and therefore crucial to the
success of any company. The procedures for addressing employees' grievances
and satisfaction have consistently emerged as a crucial factor that determines
the image of an organization. Several internal and external factors can influence
employee job satisfaction, and these factors are susceptible to change over
time. These fluctuations could be attributed to changes within the workplace as
well as economic, demographic and social trends. Although there are many
factors that can influence employee job satisfaction, only two of those factors
were above 70% (on the average) among the top five contributors to employee
job satisfaction. Giving the state of the Nigerian economy, none of these aspects
of employees selected as the top five contributors to their job satisfaction was a
surprise. Responsibility (66.7%) which requires giving employees enough
freedom and power to carry out their tasks so that they feel they “own” the
result was at par with Work itself (66.7%). Other aspects that rounded off
employees' top five factors contributing to job satisfaction were:
- Company and administrative policies (72.2%).
- Relationship with immediate supervisor (67.5%).
- Interpersonal relationship (67.1%)
- Achievement (74%)
Summary of LAPO MFB 2013 Staff Satisfaction Survey Report
LAPO Microfinance Bank Ltd 42 2013 Sustainability Report
The Importance of Findings to LAPO Microfinance Bank
One of the top contributors to job satisfaction and engagement among LAPO
employees is having the opportunity to use their skills and abilities at work. With
such organizational support for training/retraining and further educational
pursuit, employees with time develop skills and abilities beyond the position for
which they were hired which will create room for a higher job position. People
Management should sustain training/retraining and educational pursuit of
employees to fill positions that require higher skill levels. This will then open up
positions that require lower skill levels in the bank and will be easier to fill.
Besides, it will in turn, make them more valuable, more fulfilled professionally
and satisfied. It is obvious from the outcome of the result that employees value
their connection with management, and are looking forward to building on this
relationship beyond the present level. This will in the long run increase
employee level satisfaction, engagement and productivity.
Summary of LAPO MFB 2013 Staff Satisfaction Survey Report
LAPO Microfinance Bank Ltd 43 2013 Sustainability Report
LAPO Microfinance Bank Scholarship Scheme
University Scholarship Beneficiaries 2012/2013 Academic Session
S/N Name of Candidate Sex Name of University Course of Study Region/Branch Client Name/Union
1. Abraham Joseph Uzoma M Federal University of Fishery and Agricultural Alimosho/Egbeda Nkechi Abraham/
Technology, Akure Technology Virtuous Women
2. Adegbulugbe Theophilus M University of Abuja Banking & Finance Ikorodu/Ikorodu 2 Adegbulugbe
Adebiyi Olanrewaju/Ayomikun
3. Adeniyi Israel Oluwaseun M University of Ilorin Human Kinetics & Alimosho/ Igundo Adeniyi Elizabeth/
Health Education Unique
4. Adenugba Biodun M UNIBEN Drama/Dramatic/ Alimosho/ Itire Shola Adenugba/
Emmanuel Performing arts Isokan
5. Akanni Olamide M University of Ibadan Law Ibadan/Saki Kola Ogunwale/
Zacheaus Mayowa
6. Amuta Chibuzor M Ambrose Alli University Electrical /Electronic Alimosho/Egbeda Blessing Amuta/
Emmanuel Ekpoma Engineering Possibility
7. Augustine Esther M University of Nigeria Philosophy Alimosho/Ejigbo Augustine Chiwendu/
Onyiyechi Nsuka Love
8. Awoneye Temitop M Lagos State University, Electronics & Alimosho/Ayobo Mosun Awoneye/
Abayomi Ojo Computer Engineering Iremide
9. Aworetan Yetunde F University of Ibadan Psychology Alimosho/Ajah Folake Aworetan/
Convenant
LAPO Microfinance Bank Ltd 44 2013 Sustainability Report
LAPO MFB
Scheme
10. Ekeamadi Godsgift F Fed. University of Tech. Mathematics Alimosho/ Babagry Grace Ekeamedi/
Ugonna Owerri Advancement
11. Ekwedi Samuel Omoefe M Niger Delta University Mechanical Alimosho/Alaba Mary Ekwedi/
Engineering Godslifting
12. Ikerionwu Vivian Anulika F Michael Okpara Biochemistry Alimosho/Ajegunle Ebere Ikerionwu/
University of Agape
Agriculture, Umudike
13. Ikyaan Mariam F Benue State University, English language Lokoja/Gboko 1 Ikyan Esther/
Nguumbur Makurdi Ngueom
14. Ita Victor Mfon Abasi M University of Benin Elect/Elect Alimosho/Ikotun Love Ita/
Progress Friend
15. Kosebinu Adewunmi F Lagos State University, Insurance Alimosho/Epe Folake J. Kosebinu/
Busola Ojo Owoloja
16. Kotoye Elizabeth F Ekiti State University Microbiology Alimosho/Ikotun Kotoye Ruth/Honey
Oluwadamilola
17. Mohammed Rashidat F Lagos State University Political Science Alimosho/Igundo Mohammed
Education Olufunke/Oluwaseyi
18. Momoh Sherrif M Ambrose Alli University Science Education Edo/H/O Indigent
Ekpoma
19. Nelson Dorglo Vanessa F Ambrose Alli University Microbiology Alimosho/Egbeda Helen D-Tordzro/
Eseohe Ekpoma Victory
LAPO Microfinance Bank Scholarship Scheme
LAPO Microfinance Bank Ltd 45 2013 Sustainability Report
LAPO MFB
Scheme
20. Ogiri Emmanuel M Kogi State University Law Lokoja/Idah Ogiri Cosmas/
Wisdom
21. Oladepo Ronke Dorcas F Obafemi Awolowo Pharmacy Ibadan/Saki Moses Oladepo/
University, Ile Ife Temitope
22. Olaitan Abdulqauri M University of Lagos Education & Integrated Alimosho/Igundo Bisi Olaitan/
Adeshina Science Anu-Oluwapo
23. Oloniyo Bamidele M University of Agriculture, Food Sc. & Technology Lokoja/Omuo Ekiti Olorundare Sunday/
Makurdi Arise & Shine
24. Omikunle Aminat Modupe F University of Lagos Microbiology Surulere/Agege Romata Omikunle/
Ikeoluwa
25. Omodara Gbemisola F Ekiti State University Business Administration Alimosho/Igundo Joke Omodara/
Temitope Sweet Mother
26. Omoleke Adeniyi Ezekiel M University of Lagos Banking & Finance Alimosho/Igundo Omoleke Gbemisola/
Irewolede
27. Omoregie Precious F University of Benin Political Science & Edo/Sapele Rd. Omoregie Stella/
Eronmwon Public Administration Ekinadese 2
28. Ozemoya Leonard Umoru M University of Benin Microbiology AlimoshoJonathan Justina/Morning Star
29. Saka Oluwatosin Ayobami F Ekiti State University Biology Alimosho/Agbara Toyin Saka/Peace
30. Udeji Grace Chidima F UNIBEN English Language & Lit. Alimosho/Egbeda Florence Udeji/
Possibility
LAPO Microfinance Bank Scholarship Scheme
LAPO Microfinance Bank Ltd 46 2013 Sustainability Report
LAPO MFB
Scheme
LAPO MFB
Scheme
LAPO Microfinance Bank Scholarship Scheme
S/N Student’s Name Sex Class Client Name Union Name Bank Name
1. Abdul Mumeen Balogun Rukaya F JSS 2 Esther Ibrahim Grace Lokoja 1
2. Abdul Waheed Toheeb Alaba M JSS 3 Ilori Mariam Ajijola Oyo 1
3. Abe Ifeeoluwa Oluwadusin M JSS 3 Abe Caroline Ilosiwaju Oke-Ijebu
4. Abiara Rodah F JSS 3 Abiara Mary Victory Ogbomosho 1
5. Adam Joy Friday F JSS 3 Lydia Tom Inyene ObongIkpo-Abasi
6. Adams Ignatius F JSS 2 Comfort Ebhodagbe Jattu Edo
7. Adebanjo Abdulahi Tobi F JSS 3 Adebanjo Adeola Still Alive Epe
8. Adebiyi Kaosarat F JSS 1 Adebiyi Yinka Emmanuel Odinjo
9. Adebolanle Adelegan Mary F JSS 1 Oluwaseun Akure
10. Adeiza Ahuoiza Hikmat F JSS 3 Zainab Adeiza Prosperity Lokoja 1
11. Adeleke Oluwadamilola F JSS 2 Laoye Cecelia Irewolede Ede
12. Adeoye Oluwaseun M SSS 2 Iyabo Oseni Endurance Dugbe
13. Adepoju Ridwan M JSS 3 Folashade Adepoju Omoluabi Obelawo
14. Aderemi Boluwati Ezekiel M JSS 1 Olumide Sadia Agbara Olorun Iwo Road
Secondary School Scholarship Beneficiaries 2012/2013 Academic Session
LAPO Microfinance Bank Ltd 47 2013 Sustainability Report
LAPO Microfinance Bank Scholarship Scheme
15. Aderinde Abiodun F SSS 3 Oderinde Folashade Opeleke Oke-Ila
16. Adeshina Adeola Esther F JSS 3 Adeshina Adeola Dolapo Oro
17. Adetunji Oyindamola Sukurat F JSS 1 Salura Adetunji Modupe Bodija
18. Aemoh Glory M SSS 1 Angela Agemoh Osa Agbara
19. Afolabi Odunayo M JSS 2 Afolabi Mary Irewolede Oke-Ila
20. Agboade Adebukola Damilola F JSS 1 Wumi Olatunbosun TanimolaIyana Church
21. Aigbe Susan F JSS 2 Cream Crest Sec. School Indigent Student
22. Aigbikor Gloria F JSS 1 Amy Day Junior Sec Sch Indigent Student
23. Aigbogun Destiny M SSS 1 Ugha/Obaegie Mix Sec. Sch Indigent Student
24. Aina Babatunde Abdulrahmon M JSS 2 Alice Aina Ola-Oluwa Isolo
25. Aina Olamide Folasade Mary F JSS 1 Florence Ayinno Marvelous 2 Oke Ado
26. Ajayi Olusola M JSS 1 Ronke Olopade Iretiayo Ife 1
27. Ajibade Yetunde Karimot F JSS 3 Ganiyat Musibau Olorundara Moniya
28. Akeredolu Olaitan Olumide M JSS 2 Akeredolu Alice Moyi-Oluwa Ife 1
29. Akeremale Oluwafeyisala Oluwapo M JSS 2 Akere Male Trust In God Shasha
30. Akinsanya Olumide S. M JSS 2 Oluke Lawal Orelope Oke-Odo
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31. Akinshola Yemisi F JSS 2 Akinsola Olusesi Ogometalokun Itokun
32. Akinyemiju Celestinaah Iyanu F JSS 3 Oyelere Emily Oluwa-Seun Ile-Oluji
33. Akomolafe Ifeoluwa Vicent M JSS 3 Mary Kayode Oluwaseyi Ado 1
34. Akomolafe Oyonorifo Courage M JSS 3 Akomolafe Florence Egbe-Ayo Ikare 2
35. Akpan Nsikak JSS 3 Akpan Ime Ifokanbale Gbagada
36. Akpomedaye Peter M JSS 2 Mercy Uwoyo Dinine Blessing Warri 4
37. Aku Moses Achimugu M JSS 2 Victoria Aku Ogechukwu Idah
38. Alozie Nkechi Nkeiruka F SSS 1 Celestine Alozie Mercy Sabon Gari
39. Amusat Victor M JSS 3 Amao Kemi Temitope Ogbomosho 1
40. Amuwa Akereja Adeola M JSS 2 Temidayo Akugba
41. Angilaje Champion Damilola F JSS 2 Kemi Arigilaje God's Grace Challenge
42. Anyanwu Adaeze Thelma F JSS 3 Blessing Anyanwa Gold Egbeda
43. Aransiola O Demilade Samuel M JSS 2 H/O Indigent Student H/O
44. Aribiyi Janet Taiwo F JSS 3 Adebayo Yinka Progressive Old Ife
45. Arinze .J. Chisom F SSS 1 Kenneth Ariaze Ife-Adigo Orji
46. Asadu Amara M. F JSS 2 Asadu Kate Divine Success Nnewi
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47. Ashaolu Bukunyi F SSS 2 Asaolu Dorcas Isegun Ilorin 3
48. Asuquo Victor Bassey M JSS 2 Bassey Asukwo Nka Eno Harcourt
49. Avwaekerho Esther Elrowiyor B. F JSS 1 Grace Oyokeigho Elohor Warri 3
50. Awe Ayomide F SSS 2 Ademola Joseph Imole-Ayo Ife 2
52. Ayo Gift Enang F JSS 1 Faith Peter Idoreyin Marian
53. Ayodeji Ezekiel M JSS 2 Ayodeji Samson Odetola tosin Ila-Oragun
54. Ayodele Deborah Akokede F SS 1 Adegboye Abimbola Alasepe Akure 2
55. Azeez Abiodun Kibirat M JSS 1 Alalade Banke Prestige Oke-Aro
56. Balogun Habbeebat Abosede F SSS 2 Folashade Akinyemi Ireti Oluwa Aja
57. Bashorun Rodiyat Boluwatife F JSS 3 Basirat Bashorun Mercy Of God Alagbado
58. Bello Temiloluwa Kikelomo F JSS 1 Moraieke Osahinyemi Sound Ejigbo
59. Ben Chukwuebuka Prosper M JSS 1 Happiness Henry Chgozirim Rumuokoro
60. Boboye Joshua Oluatosin M SSS 1 Esther Oyinade Oluwa-Kemi Akure 2
61. Chukuyenu Benicy F SSS 3 Felix Emobu Confidence Oka
62. Chukwu Godwin Ejike M JSS 3 Blessing Chukwu Akachukwu Emene
63. Daniel Oisemokhai F JSS 1 Fumi Hassan Hope Kakuri
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64. Danjuma Jemimah Zobada F JSS 3 Mercy Sabo Glorious 2 Nasarawa
65. Duru Stanley I. M JSS 2 Onyinyechi Duru Early Breed Auchi
66. Ebalumenta Godswill W. M JSS 1 Margaret Ebalumenta Better Life Aduwawa
67. Ebeli Goodness F JSS 3 Augustina Ebeli Excellent 1 Rumuokwuta
68. Ebiakofa Maria Ebimo F JSS 1 Maria Ebiakofa Oshimili Asaba 1
69. Ebo Andrew Ugochukwu M JSS 2 Chinwe Ebo Blessed Women Woji
70. Edewor Angela Uzoezi F JSS 2 Word of faith group of Sch. Indigent Student
71. Edogiawerie Uwaila F SSS 1 Grace Esemwengie Aizeyosabo Oko
72. Egeonu Ruth Chinyere F SSS 1 Helen Okereke God's Grace Okoko
73. Eguabor Paschal Daniel M JSS 1 Ifeanyi Egwabor Ihienrima Agbor 2
74. Ehigiator Dinasty M JSS 2 Amenze Etinosa Faithful Oka
75. Ehiozee Nekpen Victory F SSS 3 Alpha High Sch Uselu Indigent Student
76. Emegha Mildred Chukwuedum F SS 1 Beatrice Emegha Chinedu Ikeja
77. Emuavobor Faith Omonigho M SSS 2 Margeret Emuobor Winning Woji
78. Eniola Olalekan Oluwapelumi M SSS 2 Kolapo Kehinde Ini-Oluwa Bodija
79. Enwezor Obiora Maclean M SSS 1 Convenant Christian Indigent Student
Academy
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80. Eruah Justina F JSS 2 Joseph Eruah Eghosa Ugbowo 2
81. Esedebe Onyiyechukwu Vera F SS 2 Esedebe Emeka Mary Akute
82. Ewuru Pryanka Munachiso F JSS 1 Chinyere Ewuru New Era Orlu
83. Ezekwe Joy Chiamaka F JSS 3 Austine Azekwe God's Grace Mokola
84. Felis Doris Miere F JSS 3 Maria Kabakeme Social Gboko 1
85. Felix Chukuwike Emmanuel M JSS 2 Veronica Agbanenu Olorun-Tobi Owo 2
86. Gaiya Micheal M SSS 1 Dorathy Abraham Exortic Barnawa
87. Grace Akpobome F JSS 3 Young Akpobome Okada Edo
88. Hamusa Nurudeen F JSS 2 Taiwo Hamusa Godday Owode
89. Hamza Zeenah Temiloluwa Bukola F SSS 1 Isma Hamza Hadinkay Hotoro
90. Hezekiah Stephiner F SS 1 Akporube Hezekiah Emovon Enuru Oleh
91. Ibitoye Oluwatosin Celestinah F JSS 1 Ibitoye Bunmi Ifedapo Ikole-Ekiti
92. Igbineweka Festus O. M JSS 2 Patience Olaye Destiny Benin 2
93. Igwe Daniel Chima M SSS 1 Igwe Ikechukwu Favour Nnewi
94. Igwe Theresa Oluchukwu F JSS 1 Mary Igwe Idinofu Amuwo
95. Ileasanmi Racheal F JSS 1 Ilesami Adenike Irewolede Ogo-Oluwa
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96. Inyang Destiny M JSS 2 Anthony Inyang Blesed Oko
97. Isiekwene Anslem M JSS 1 Stella Ikem Unity And Peace Ogwashi-Uku
98. Isu Samuel Tochukwu M JSS 2 Eucharia Esu Chikwado Ogoja
99. Iyiola Oluwatobiloba M SSS 2 Bibitayo Orosola Ife-Oluwa Gbongan
100. Jaiyeola David F JSS 2 Josephine David Long Life Lokoja 2
101. John Michah Ita F JSS 1 Abigal John Iba-Akpaniko Oron 2
102. John Oronsaye M JSS 2 Elyon Education Centre Indigent Student
103. Joseph Oluwatobi Onafowokan M JSS 3 Joke Onafowokan Ola Oluwa Ikorodu 2
104. Kingsley Egor M JSS 3 Peace Kingsley Godsfavour Ogba
105. Konwel Sonia F JSS 2 Evelyn Tony Women Of Faith Warri 4
106. Kpamor Magdaline F JSS 2 Caterine Michael Abundance Sabon Tasha
107. Kpojime Jacob Teringwa M SSS 2 Rose Kpojim Sewe Gboko 2
108. Lawal Mubaraq Abidemi M JSS 1 Sikirat Olaide Ore-Ofe Ede
109. Maduako Onyedikachi M JSS 3 Ngozi Maduako Goodluck Ogbete
110. Maharazu Karimatu F JSS 2 Karimatu Usman Bameyi Zaria 1
111. Misbaudeen Mariam F JSS 3 Osunkunle Oridun Osi-Ko-Yemi Ikere
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112. Moruf Kaosara JSS 1 Salawe Adebisi Omolere Agric
113. Muraina Kadsarat F JSS 1 Abosede Saheed Irewumi Beere
114. Musa Mutiat Taiwo M SS 2 Adenike Musa Kolebaje Agege
115. Ndedigwe N. Favour Maryam F JSS 2 H/O Indigent Student H/O
116. Ndukweme Okori M JSS 1 Chiyere Udukwe Mimi Gboko 2
117. Nkounou Peter M JSS 2 Esther Kwame Forward Eleyele
118. Nnamani Chidera F JSS 3 Nnamani Jude Better Life Ogbete
119. Nnamdi Christian M JSS 2 Elochukwu Nnadi Chosen Orba
120. Nurudeen Mubarack Ayobami M JSS 2 Victoria Olapade Haleluyah Eruwa
121. Nwachukwu Oluchi Joy F JSS 3 Eunice Nwachukwu Osarugue Oko
122. Nwafor Samuel Hompfrey M JSS 3 Patience Mathew Ibisioluwa Alaba
123. Nwaigwe Chukwubuike M JSS 3 Blessing Foundation College Indigent Student
124. Nwalue Ifunaya Ester F JSS 1 Augusta Nwawe Ofure Igbede
125. Nwobodo Chinedu Joseph M JSS 2 Mary Nwobodo Ogo-Oluwa Dugbe
126. Nwokoye Emmanuel Chidumebi M JSS 1 Precious Nwokoye Unique Okoko
127. Obah Kingsley Ikechukwu M JSS 1 Ngozi Obah Christ The King Elelenwo
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128. Obarinde Oluwaseyi M JSS 2 Obarinde Taiwo Destiny Ikole Ekiti
129. Obasogie Elfreda Obosa F SSS 1 Mabel Ebogen Harmony Aduwawa
130. Obiwale Ayoku Favour JSS 2 Obiwale Alaba Peace Ikorodu 1
131. Obukohwo Rukewe F JSS 2 Beatrice Macaluay Blessed Mother Warri 4
132. Odama Isaac Rapheal M JSS 1 Kate Raphael God's Grace Shasha
133. Odo Hillary Chibueze JSS 3 Odo Theophilus Ugochukwu Obollo
134. Odoemelam Gideon .E. M JSS 2 Godwin Odoemena Higher Ground Faulks
135. Ofoegbu Chidera .F. Amarachi F JSS 1 Priscal Ofoegbu Ezinne Oshodi
136. Ogbodike Blessing .O. F SSS 1 Favour Ogbodike Glory Love Evbuotubu
137. Ogbonaya Chukuebuka M JSS 2 Ogbonaya Okereke Ogbesasa Benin 1
138. Oghneke Success M JSS 2 Ogenuke Edna Prince Rumuokwuta
139. Oguntoye Mary F SSS 2 Ogudeji Esther Ayo Olope
140. Ojo Oluwaseun M JSS 1 Abimbola Ojo Honest Kubwa
141. Oke Vivian Olajire F JSS 3 Susan James Edikan Oron Road
142. Okoro Isreal Martins M JSS 2 Chuks Okoro Merch Sabon Gari
143. Okorofor C Patience F JSS 3 Anglina Chijioke God's Love Newkaru
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144. Olabanji Demeji M JSS 2 Olabanji Ruth Owonikoko Ilesa 2
145. Olabiyi Mukadam F JSS 3 Adedokun Rashidat Otitogbemi Ogo-Oluwa
146. Olabode Lekan Bayo M JSS 2 Victoria Olabode Ogo-Oluwa Isolo
147. Oladimeji Sodiq Adewunmi M PRY 6 Abigael Oladimeji Friendship Igando
148. Oladipupo Pelumi Femi M JSS 1 Aishat Ganiyu All Crown Ikotun
149. Olagidi Samuel Ayodele M JSS 2 Grace Emmanuel Ife-Oluwa Bodija
150. Olaiwola Olayemi F Ss2 Olaywola Abijoke Igbega Akure 1
151. Olajide Sholabi Sunday M JSS 3 Monsurat Olajide Success Aja
152. Olalekan Latifat Oyin M SSS 1 Titi Olalekann Idunu Ayo Isolo
153. Olanrewaju Benjamin Sunday M JSS 2 Motunray Olarenwaju Strong Tower Challenge
154. Olatire Olanrewaju Timileyin M JSS 1 Olajire Sokadi Unity Oke Ado
155. Olatunji Rukayat Idowu F JSS 2 Olatunji Olanrewaju Owodara Oke Ado
156. Olawepo Deborah F JSS 3 Olwepo Abigail Blessed Ilaje
157. Olayiwole Abdulsalam M. M JSS 3 Nimota Olayiwola Progressive Kuje
158. Olude Elizabeth Brightness F SSS 1 Jibolu Folasade Agbara-Oluwa Igelemaroko
159. Olujinmi Toluwani Adeyemi M SSS 2 Samuel Ojusimi Jesu-Oseun Ilora
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160. Olukayode Oluwanifemi F SS 1 Olukayode Ayodele ImoleAkure Mega
161. Oluwaleye Oluwanifemi F JSS 3 Adenike Oluwaleye Titilanu Akure 1
162. Oluwasesan Sarah Jolaoluwa JSS 3 Foluke Grace Oluwasesan Glory Sabo
163. Omorogbe Joy O. F JSS 3 Omoregbe Julie Osasumwen Uwelu
164. Omotoye Oluwakemi F JSS 3 Omotoye Omowumi Temitayo Ilesa 2
165. Oneleka Luis Ruby F SSS 1 Uwuma Luwis Good Luck Ahoada
166. Onifade Glory M JSS 2 Onifade Grace Ifesowapo Modakeke
167. Onobhayedo Cyprian M JSS 3 Elizabeth Edialu Obarelu Uromi
168. Ononuju Faith F JSS 3 Adebayo Omowunmi Ibukun-Oluwa Akute
169. Oresanya Moses .O. M JSS 1 Oresanya Adeola Ilesiwaju Idi-Oro
170. Orisabiyi Olalekan Olarewaju M JSS 2 Lola Orisabiyi Modupe Olorunsogo
171. Oroleye Kehinde Opeyemi F JSS 2 Oreleye Toyin Grace Abule-Egbe
172. Osagie Festus M JSS 3 Adesuwa Samuel Lawani Uwelu
173. Osamagbe Osayamen M JSS 3 Epen Secondary Sch. Indigent Student
174. Osunbor Samuel M JSS 2 Caro Igboi Orobosa Ikpobahill
175. Otobhi Samuel Ehisunoria M JSS 2 Ihogbe Junior College Indigent Student
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176. Oyadeyi Kayode M JSS 3 Risikat Ajani Opeyemi Ope-Ilu
177. Oyenaba Timothy .S. Chimezie M SS 1 Gift Oyenaba Oluwasheun Oshodi
178. Oyetunde Daniel Ademola M SSS 1 Olubumi Florence Irowo Moniya
179. Oyetunji Ridwan Oyekunle F JSS 3 Idowu Taiwo Gods grace Owode
180. Oyewale Kehinde Precious F JSS 3 Chinyere Chales .O. Oredegbe Papa Ajao
181. Oyewola Abdul-Gafari Adesina M JSS 2 Adebayo Oyewole Owoduni Oyo 1
182. Quadri Akeem M JSS 1 Katolat Akinwole Boluwatife Ikere
183. Raheem Aliyat F SS 1 Busayo Raheem Owodunni Oshodi
184. Raiyemo Eniola M SSS 1 Sroseline Kolade Divine Mercy Lokoja 2
185. Salako Folakemi Mary F SSS 1 Olufemi Salako Rise & Shine Kubwa
186. Salami Halima Heniola F SS 1 Taofikat Salami Ibukun-Oluwa Ikate
187. Saminu Muh'd Rabiu M JSS 2 Talatu Sani Kalarwm A/Bello
188. Samsideen Muyinat Bisola F JSS 2 Bashirat Shittu Iremide Papa Ajao
189. Sanusi Khadijah Abidemi M JSS 1 Sanusi Hajarat Succeed Agege
190. Shaba Roseline F JSS 2 Achievement Akugba
191. Sikiru Fatimat Omowunmi F JSS 2 Sikiru Bose Oluwa-Layo Ile-Oluji
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192. Sunday Anita F JSS 3 Blessing Nwagbogwu Blessed Isele-Uka
193. Tekin Christy Barivule F JSS 1 Barisi Tekin Goodwill Woji
194. Terver Joyce Wuse F SSS 3 Judith Tervan Success Gboko 2
195. Thompson Mmenyene M JSS 3 Rita Mathew Nka Imo Eket 2
196. Ubawuike Miracle Chidinma F JSS 2 Grace Mba Divine Favour Isolo
197. Ubhi Osariemen Joy F JSS 3 Green Pack Academy Indigent Student
198. Udo Daniel Ezekiel M JSS 3 Ebenezer Sec.School Indigent Student
199. Ugwu Cosmas Chibuzor .M. M JSS 2 Uwuma Luwis Chikwado Wetheral
200. Ukpabi Blessing Chinyere F SSS 1 Ukpabi Grace Dominion Ogoja
201. Ukpong Chidima Michael M JSS 3 Akon Micheal Divine Mile 1
202. Umoren Ndiana Abasi .A. M JSS 3 Grace Umoren Accomplished Aggrey
203. Unwuchola Emmanuel M JSS 1 Sunday Ogwu Ojima-Ojo Ayingba
204. Wikimor Okechukwu .C. M JSS 2 Christiana Okechukwu God's Gift Mile 3
205. Willooughby Henry Abiola M SSS 1 Adeola Willoughby Opeoluwa Agric
206. Winner-Praise Tochukwu M JSS 1 Ogugua Veronica Victory Gwagwalada
207. Yahaya Musa M JSS 1 Hadiza Yahaha Albarika A/Bello
208. Yakub Basirrat Ajoke M JSS 3 Durojaiye Ogunseye. Y. Itunu Ishaga
209. Yinusa Abiola Omolara F JSS 1 Bosede Yenusa Triumphant Borokiri
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Corporate Information
Registered Head Office
LAPO Microfinance Bank Limited
18, Dawson Street,
P.M.B 1729,
Benin City,
Edo State,
Nigeria.
Tel: +234-52-292174
E-mail: [email protected], [email protected]
Web: www.lapo-nigeria.org
Lagos Annexe
LAPO Microfinance Bank Limited
Irorun Plaza
First and Second Floor,
65, Kudirat Abiola Way,
Oregun, Ikeja, Lagos,
Nigeria.
Tel: +234-1-7359754, 234-8110772850, 234-8169389739
Company Registration
RC: 688867
External Auditors
Akintola Williams Deloitte
235, Ikorodu Road,
Ilupeju, Lagos,
Nigeria.
Bankers
Access Bank Plc
Ecobank Nigeria Plc
Enterprise Bank Plc
First Bank of Nigeria Plc
First City Monument Bank Plc
Guaranty Trust Bank Plc
Standard Chartered Bank Plc
United Bank for Africa (UBA) Plc
Zenith Bank Plc
LAPO Microfinance Bank Ltd 60 2013 Sustainability Report
Notes
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LAPO Microfinance Bank Ltd
LAPO Microfinance Bank Ltd
LAPO Microfinance Bank Ltd
LAPO Microfinance Bank LtdLAPO
Microfinance Bank Ltd
LAPO Microfinance Bank Ltd
LAPO Microfinance Bank Ltd