Welcome to IOMFB

Ilutitun–Osoro Microfinance Bank Limited is a member of the FORTHRIGHT Group, which comprises Forthright Securities & Investment Limited, Forthright Properties Limited, Forthright Manufacturing, Forthright Agro-Allied Co. Limited, as well as other community stakeholders.

The Bank commenced operations as Ilutitun-Osoro Community Bank Nigeria Limited on 27th April 1992 with a paid-up capital of Five Million Naira (₦5,000,000), in accordance with the provisions of the Community Bank Prospectus.

Following the issuance of new regulatory guidelines by the Central Bank of Nigeria, the Bank increased its shareholders’ funds to Twenty Million Naira (₦20,000,000) and subsequently transitioned into a Unit Microfinance Bank under the name Ilutitun–Osoro Microfinance Bank Limited.

The Bank was incorporated in Nigeria on 21st April 2008 as a Limited Liability Company to provide financial services to a broad segment of the economically active population, particularly those with limited or no access to conventional banking services.

Currently, the Bank has an authorized share capital of ₦100 million, of which ₦81 million has been fully paid up.