Economy and Business

Lotus Bank granted non-interest banking license by CBN


The Central Bank of Nigeria has granted a non-interest banking license to Lotus Bank.

This was contained in a statement issued by the bank on Thursday.

The bank’s statement partly reads, “Lotus Bank seeks to pursue the mission of creating value and growth for all through digital innovation and best-in-class customer experience for Nigerians.’’

The statement revealed that Lotus Bank aims to improve financial inclusion in the country adding that it would operate transparent pricing models as it was the norm in non-interest banking.

“Our values are deeply rooted in partnership. A critical component of our mission is the provision of innovative solutions that drive ethical prosperity for all stakeholders. We pride ourselves on digital solutions that provide our customers with the convenience of unlimited access to our services and products.”

The Bank is managed by a team of seasoned professionals and financial experts led by the Managing Director/Chief Executive Officer, Mrs Kafilat Araoye, who has over 25 years of commercial banking experience.

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