The Bank was promoted by the Balogun Fulani Ward Development Association, prominent individual members of the public particularly within Ilorin Metropolis largely subscribed to the share of the Bank as well. The Bank was incorporated as Balogun Fulani Community Bank Ltd., in the year 1992 with paid up capital of N250,000.00, and was commissioned to commence Banking activities by the then Kwara State Governor, Alhaji Mohammed Shaaba Lafiagi on 3rd November 1992 at her registered office located at No. 9, Balogun Fulani  Road, Ilorin. Kwara State.

The Bank started operation with 3 Management staff and 9 others headed by Alhaji Munir Niyi Agunbiade.

Following re-capitalization exercise in the era of Central Bank Governor – Professor Charles Soludo, the Bank metamorphosised to Balogun Fulani Microfinance Bank Ltd when it was fully capitalized as required by the Central Bank of Nigeria in year 2008. 

Alhaji Muhammed Issa Erubu  (B.Sc, MCIB,M.Sc) ) is the current Managing Director with experience of over 20 years in Commercial and Microfinance Banking.   

VISION AND MISSION

To top the list of Microfinance Banks in developing our local economy; enriching lives and above all, to create an improved living standard where people can have access to prompt Banking Services driven by honesty and integrity.

The Bank is out to ensure customer delight by providing superior products and services.

OUR CORE VALUES

• Integrity
• Honesty
• Loyalty
• Commitment
• Excellence
• Team Work
• Corporate Social Responsibility

OUR PRODUCTS AND SERVICES ARE:

Target Saving Account

Personal Saving Account

Daily Contribution Scheme (Ajo)

Asset Leasing and Equipment Purchasing Loan

Group Financing (Unity Loan)

Individual Loan (Current Account)

Fixed Deposit

Business Growth Advantage

Salary Advantage

Corporate Account

Fixed Deposit Account

Savings and Current Accounts

Islamic Banking (Non Interest Banking)

Contract Financing