Lagos, Nigeria – May 29, 2025. During a recent LAPO Microfinance Bank-sponsored  (ORAN) media roundtable at the Lagos Chamber of Commerce and Industry (LCCI), industry experts and top professionals in finance, cybersecurity, and communications discussed the pressing need to protect sensitive financial information in today’s digital landscape.

Mr Oluremi Akande, Director of Marketing and Communications, LAPO Microfinance Bank

Lead keynote speaker Oluremi Akande, Director of Marketing and Communications at LAPO Microfinance Bank, highlighted the increasing significance of cybersecurity in the financial sector.

During the roundtable’s media parley, organized by the Online Reporters Association of Nigeria (ORAN), Oluremi Akande emphasized LAPO Microfinance Bank’s dedication to safeguarding client data and enhancing digital security

In a post-event interview, he discussed initiatives to empower and train ex-military personnel in cybersecurity, as well as promoting the field as a viable career option for young people. Akande also stressed the significance of character in determining creditworthiness and dismissed allegations of LAPO officials using coercive methods for debt recovery.

”Cybersecurity is no longer a choice, but a necessity in today’s rapidly changing digital world,” Akande emphasized. “LAPO Microfinance Bank is committed to investing in cutting-edge technology and proactive media engagement to uphold the highest standards of corporate social responsibility, particularly in maintaining public trust and protecting sensitive data.”

Akande pledged LAPO Microfinance Bank’s commitment to enhanced collaboration with journalists and media stakeholders, emphasizing transparent communication, public education, and ethical digital finance practices. The roundtable facilitated in-depth discussions on key topics, including data privacy regulations and leveraging artificial intelligence to detect financial fraud.

The roundtable, held at the LCCI headquarters in Ikeja, Lagos, underscored LAPO Microfinance Bank’s dedication to driving industry collaboration and advancing best practices in digital finance. Through its steadfast commitment to financial inclusion, MSME support, and community empowerment, LAPO MFB has made significant strides in Nigeria’s economic development.

LAPO Microfinance Bank, officially known as Lift Above Poverty Organization Microfinance Bank, is a leading Nigerian financial institution dedicated to promoting financial inclusion and empowering low-income individuals and micro-entrepreneurs. Established in 1987 by Dr. Godwin Ehigiamusoe in response to the economic challenges posed by the Structural Adjustment Programme, LAPO began as a non-governmental organization (NGO) focused on poverty alleviation.

In 2010, LAPO obtained approval from the Central Bank of Nigeria (CBN) to operate as a state microfinance bank, and by 2012, it had secured a national microfinance banking license, allowing it to expand its services across Nigeria.

Headquartered in Benin City, Edo State, with additional offices in Lagos, LAPO has grown to become one of the largest microfinance banks in Nigeria. It offers a range of financial products, including regular loans, SME loans, agricultural loans, educational loans, and various savings accounts.

LAPO’s commitment to social and economic empowerment is evident in its focus on serving rural areas and women, who constitute over 90% of its clientele. Through its extensive network of over 200 branches nationwide, LAPO continues to play a pivotal role in Nigeria’s financial inclusion landscape.

For more information, visit the official website: www.lapo-nigeria.org.

Recognitions and Awards

• Highest Impact on MSMEs in Nigeria:  In 2024, LAPO Microfinance Bank received the Development Bank of Nigeria (DBN) Award for the Highest Impact on MSMEs in Nigeria, acknowledging its substantial contributions to economic empowerment across the country.

• Microfinance Bank of the Year<span;>: The bank was honored as the “Microfinance Bank of the Year” at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, marking the ninth consecutive year it received this accolade.

• Support for MSMEs<span;>: LAPO was recognized for its exceptional support to MSMEs, reflecting its ongoing commitment to promoting financial inclusion and economic development in Nigeria.

 Economic Impact

• Loan Disbursements: In the first half of 2023, LAPO disbursed ₦74 billion in loans to MSMEs, contributing to over ₦1 trillion disbursed in the last decade. This financial support has been pivotal