FRSC Transfers Safeline Microfinance Bank to Robopay

The Federal Road Safety Corps (FRSC) has officially handed over ownership of Safeline Microfinance Bank to Robopay Nigeria Limited, a decision aimed at strengthening the bank’s capital base and facilitating technological transformation. The handover ceremony took place on a Monday at the premises of Safeline Microfinance Bank in Abuja.

Engr. Ibrahim Babagana, Chairman of the Board of Safeline Microfinance Bank and Deputy Corps Marshal (Rtd.), stated that the decision to divest was made after careful consideration of the regulatory environment and government policies affecting the microfinance sector. Babagana emphasized the need for significant additional capital, technology investment, and enhanced human resources to maintain competitiveness.

Robopay Nigeria Limited was chosen for its demonstrated competence and commitment to invest in the bank's growth. Malam Aliyu Abiodun, representing Robopay, expressed gratitude for the trust placed in them and outlined plans to leverage financial technology and strategic investments to enhance service delivery and competitiveness.