Tag: NPF Microfinance Bank

The Board of NPF Microfinance Bank Plc (‘’the Bank’’) has approved the appointment of Mr Adamu Usman as a Non-Executive Director, subject to regulatory approval from the Central Bank of Nigeria.

According to a notice acknowledged by the bank, dated 15th of September, 2021, Mr Usman was appointed to fill the void created by the retirement of a former director- Mr Aminu Saleh, who until his retirement was representing the interest of the Nigerian Police Cooperative Multi-Purpose Society Limited on the Board of the Bank.

As at the period of reporting this, Mr Usman’s appointment is yet to be ratified by the Central Bank of Nigeria (CBN) and the shareholders of the Bank.

About Mr Adamu Usman

Adamu Usman is currently the Assistant Inspector General of Police (AIG) in charge of the Nigerian Police Cooperative Multi-Purpose Society Limited. He enlisted in the Nigerian Police Force (NPF) on 15th of March, 1988, and later became the Public Relations Officer (PRO) in the defunct Gongola and Adamawa states.

Mr Usman holds a degree in Public Administration from Ahmadu Bello University, Zaria and a Master in Public Administration from Imo State University. He also obtained an Advanced Diploma in Security Operations/Management from the University of Lagos.

Usman is a member of the International Chief of Police and International Security Organisation (ISO-SEC) Switzerland. He is a fellow of International Institute of Professional Security (FIIPS). He has undertaken several professional courses both locally and internationally.

NPF Microfinance Bank Plc has approved the sum of N457.3 million as dividend to be paid to the shareholders who currently hold the 2,286,637,766 fully paid ordinary shares of the bank.

This disclosure is part of the resolutions passed at the 27th Annual General Meeting of the bank, held on the 27th of May, 2021.

According to the notice: ‘’ A dividend of 20k  per ordinary share of 50k recommended in the Report of the Directors for the year ended 31st December, 2020  be and is hereby payable to Shareholders whose names appeared in the Register of members at the close of business on Thursday 6th May 2021 .’’

Other resolutions reached at the Annual General Meeting include;

• The appointment of Messrs. Abdulrahman Satumari, Salihu Argungu Hashimu and Mrs. Rakiya Edota Shehu into the company’s Board were reviewed and approved.
•  Directors annual fees for the year ending 31st Decemeber 2021, was fixed at N25, 000,000.
• The Directors were also authorized to allot all outstanding unissued shares of the company, in the event of over subscription of the 3,000,000,000 units of shares earlier approved to be offered by the company.

What you should know:

• Recall that NPF Microfinance Bank Plc had earlier reported a profit after tax of N614.4 million in FY 2020.

For more information about the disclosure, click HERE.