NPF Microfinance Bank Shareholders approve 20k dividend

The Shareholders of NPF Microfinance Bank Plc (NGX Ticker: NPFMCRFBK) at the Bank’s 27th Annual General Meeting has approved amongst other resolutions, the payment of 20 Kobo dividend per ordinary share of 50 Kobo.

The dividend was recommended in the Report of the Directors for the year ended 31st December, 2020. The dividend is to be paid to Shareholders whose names appeared in the Registrar of members at the close of business on Thursday 6th May, 2021.

The Bank notified the NGX Regulations Limited, its Shareholders and the investing public of its AGM resolutions through a corporate action published on The Nigerian Exchange website.

NPF Microfinance Bank held its 27th Annual General Meeting on Thursday 27th May, 2021 at Ijewere Hall, Chartered Institute of Bankers of Nigeria, PC19 Adeola Hopewell Street, Victoria Island, Lagos State.

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In addition to the approval of the resolution on dividends, the Shareholders were also presented with the following resolutions and they were duly approved.

1. “That the Audited Financial Statements for the year ended December 31, 2020 together with the Reports of the Directors, Auditors and Statutory Audit Committed thereon be received”.
2. “That the following persons be re-elected as Directors”;
   1. Mr. Abdulrahman Satumari
   2. Mrs. Rakiya Edota Shehu
   3. Mr. Salihu Argungu Hashimu
3. “That the Directors be authorized in accordance wth section 408 of the Companies and Allied Matters Act 2020, to fix the remuneration of the Auditors – Messrs KPMG Professional Services”.
4. In line with the provisions of section 257 of the Companies and Allied Matters Act 2020, the Remuneration of Managers of the Bank which is contained on page 107 of the Annual Report and Accounts was disclosed to Shareholders at the meeting.
5. “That the following persons be and are hereby elected members of the Audit Committee pursuant to section 404 (3) of the Companies and Allied Matters Act 2020, until the next Annual General Meeting”.
   1. Mr Abdulrahman Satumari – Director
   2. Mr. Aminu Saleh Pai – Director
   3. Chief Timothy Adesiyan – Shareholder
   4. Mr. Abdulquadri Sanni – Shareholder
   5. Mrs. Osijo Omobola Esther – Shareholder
6. “That the directors’ annual fees for the year ending 31 December 2021 be and, is hereby fixed at N25,000,00.00.
7. “That in the event of over subscription of the 3,000,000,000 units of shares earlier approved to be offered by the Company, the Directors be and are hereby authorized to allot all the outstanding unissued shares of the Company in compliance with S.124 of the Companies and Allied Matters Act 2020 and the new Companies Regulations 2021 and to deal with fractional shares arising therefrom in the best way deemed fit.

NPF Microfinance Bank Plc (“the Bank”) is a public limited liability company domiciled in Nigeria. The Bank’s registered office is at Aliyu Atta House, I Ikoyi Road, Obalende, Lagos.

The Bank is engaged in the provision of banking services to members of the Police community, to poor and low income households and microenterprises of the public at large. Such services include retail banking, granting of loans, advances and allied services.

The Bank currently operates from its registered office and has thirty-five (35) branches located at Obalende, Ikeja, Garki-Abuja, Wuse-Abuja, PortHarcourt, Kano, Osogbo, Benin, Akure, Onitsha, Sokoto, Lokoja, Lafia, Bauchi, Yola, Enugu, Kaduna, Oji River, Ibadan, Abeokuta, lkorodu, Tejuosho, Asaba, Calabar, Aba, Aswani, Awka, Port Harcourt 2, Jos, Ilorin, Minna, Uyo, Owerri, Ekiti and Makurdi.

Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur