DBN Disburses N1.4 Trillion to MSMEs, Creates 1.6M Jobs

At the Development Bank of Nigeria's (DBN) annual general meeting held on Thursday in Abuja, CEO Dr. Toni Okpanachi disclosed that the bank has disbursed a total of N1.4 trillion since its inception, significantly impacting the Nigerian economy by creating 1.6 million jobs.

He highlighted that in the last year alone, DBN disbursed N300 billion to 180,000 micro, small, and medium enterprises (MSMEs). Okpanachi emphasized the importance of these disbursements, stating that they not only provide financial support but also enable businesses to create jobs and improve their operations.

Additionally, he mentioned that DBN has trained 48,000 MSMEs to enhance their capacity to access financing. Bukar Abba Kyari, an independent non-executive director at DBN, reported that the bank paid a total of N8.5 billion in dividends to shareholders, translating to N85 per share.

Looking ahead, DBN aims to continue supporting MSMEs despite uncertainties in the market.