ILORA MFB

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Ilora MFB

Ilora Microfinance Bank Limited, formerly known as Ilora Community Bank, was founded over two decades ago through the visionary efforts of passionate Community leaders dedicated to the development of Ilora town in Oyo State, Nigeria.

The idea for a Community-owned financial institution was birthed in January 1993 during a meeting of the Ilora Development Association, led by the late Chief John Obitunde Lawale.

In July 1996, Ilora Community Bank received its official authorization from the National Board for Community Banks (NBCB), and was incorporated as a Limited Liability company in August 1997. Full banking operations commenced in October 1997.

Following the Central Bank of Nigeria’s 2007 directive converting all Community Banks to Microfinance Banks, Ilora Community Bank successfully met the new capital requirements and was officially renamed Ilora Microfinance Bank Limited in 2009.

Today, our shareholding base reflects strong community ownership, with equity distributed among individuals and groups within the Ilora Community. From our humble beginnings, we have grown with an authorized share capital of ₦150 million and a mission to drive financial inclusion, empower local businesses, and support sustainable community development.

Vision

To bring banking culture to the rural dwellers and be actively involved in the National Policy of poverty eradication

Mission

To bring banking culture to the rural dwellers and be actively involved in the National Policy of poverty eradication

Core Values

Honesty and Integrity
Teamwork and Excellence
Open communication and Transparency
Commitment and Devotion
Friendly customer care and efficient service delivery.
Good quality products. Cost effective system.

BOARD OF

DIRECTORS

DR. AWOTUNDE, Oyebamiji Stephen, B.sc, Phd (Veterinary Doctorate) – Chairman. He is a Community leader, the CEO of Ajike Golden Eggs Farms, he worked with Ministry of Agric & Nat. Resources. He manage his own enterprises.
Mr. ADEYEMO, Omotayo James (Hnd. Banking and Finance; MCB) – Managing Director/CEO. He is a highly experienced versatile banker. His experience cut across communication, administration, public relations and banking relation at all levels. He graduated from Federal Polytechnics Offa from where he joined Ilora Microfinance Bank Ltd and he served as head Teller, CSO, Head Credit, Head of Operations, and as MD/CEO till date.
Chief OGUNRONBI, Joseph Oluade (A businessman FARMER precisely) –Director. He is a community leader and accomplished entrepreneur.
Mr. ONI, Abel Gbadebo (B.sc Accounting) –Director. He is a highly experienced versatile banker. He retired from First Bank Plc as the Assistsance Chief inspector.
Mr. OYEKOLA, Oluremi Francis, (B.Sc, Accounting (charterred accountant) – Director. He served at various companies such as Frantivic & Associates as principal Consultant, Ernest & Young International as Head of unit and ighodalo& Co(charterred accountant) as Tax Manager till date
Hon. (Dr.) AKINWANDE, Moroof Adebayo (B.sc, Phd (Veterinary Doctorate)– Director. He is a Community leader, he manage his own enterprises and accomplished entrepreneur.

About Us

Know who we are

Ilora MFB

BOARD OF

DIRECTORS

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