When was Tangale Microfinance Bank Nigeria established and what is its mission and vision statement?
The Tangale Microfinance Bank formerly known as Tangale Community Bank was established in 1994, but it became operational in 1995. The mission of the bank is in line with that of the Federal Government in the establishment of micro-finance bank. And that is to provide banking services to lower cadre of the society who ordinarily would not have the wherewithal to bank with commercial banks. In essence, the bank was established with a view to providing banking services to those who hitherto will have difficulty in commercial banking. And the vision is also that of the Federal Government. We hope that in the next three or five years we should have established two branches/cash centres in addition to being online, and providing ATM services within the next one year. Can you contrast the initial paid up capital and capital base of the bank at inception with what it currently has? The initial paid up capital was N250,000 as a community bank. And as a microfinance bank, it was N20 million and
