Top 5 Highest Paid Microfinance Banks in Nigeria (2024)
Microfinance banks offer some of the best paying jobs in the country. If you’re looking for a high-paying job, the top 5 highest paying microfinance banks in Nigeria are what you should consider. They all offer competitive salaries and great benefits, so you can be sure to find a bank that’s right for you. Keep reading to learn more about each one!
Do you want to work in the field of finance but don’t know where to start? Microfinance institutions may be a viable alternative for you. You might just as well hunt for Nigeria’s highest-paying microfinance institutions. This article will outline and debate the country’s leading microfinance institutions, so look no further.
If you’re looking for a high-paying banking job in Nigeria, microfinance banks might not be a great place to start your search. Oil companies, Commercial banks offer more in terms of their remuneration and other allowances. In this article, we’ll take a look at the top five highest paying microfinance banks in Nigeria. So if you’re eager to work in the financial sector, you might find this piece useful.
OVERVIEW OF MICROFINANCE BANKS
To begin, what exactly is microfinance? Microfinance is a sort of financial service that tries to provide financing options to small firms and organizations that do not have access to traditional banking services.
Microfinance banks also seem to be financial institutions founded with the goal of combatting and completely eliminating poverty in the countries where they are located.
Microfinance banks, on the other hand, provide customers not just to loans but also savings and investment opportunities. That is to say, when you invest with them, you earn a higher return on your investment, but only for a limited time.
These banks provide loans to individuals, such as farmers and small and medium-sized business owners, to assist them launch their businesses. Microfinance banks are thought to be less difficult than conventional banks. As a result, the average person feels more at ease lending with them than with from commercial banks.
If you operate a small biz and are seeking for a reliable banking firm to request for a low interest loan, you might consider the top microfinance banks in Nigeria, which offer microloans to individuals quickly. The purpose of these registered microlenders institutions is to provide business loans as well as to ensure the stability of the economy through various development support initiatives.
TOP 5 HIGHEST PAYING MICROFINANCE BANKS IN NIGERIA (2024)
In Nigeria, there are a few top microfinance institutions that are hardworking and committed to providing excellent service. They are considered to be among the best and have gained the trust of their clients/customers through time. They don’t waste time or go through lengthy procedures to find work; we’ll highlight the top five of these.
AB MICROFINANCE BANK
AB Microfinance Bank is currently ranked as the highest paying microfinance bank in the country and is also among Nigeria’s top ten microfinance institutions. This financial institution has been operating in Nigeria for some time and can brag of being one of the country’s oldest microfinance institutions, with branches in various sections of the country. The AB Microfinance Bank was founded in 2002 by a powerful consortium of international investors.
The head office of AB Microfinance Bank Nigeria is located in Lagos, with branches throughout Lagos, Oyo, Ogun, and Ondo states. The bank provides speedy loans and guarantees that the money borrowed is put to good use.
The median AB Microfinance Bank salary is ₦189,347. This information is gathered by 34 employees. Assistant Finance Manager, Banking Officer, Branch Manager, Cashier, Chief Accountant, Client Adviser, and more positions are available in this bank.
REHOBOTH MICROFINANCE BANK
Rehoboth Microfinance Bank is another top paying microfinance institution that operates in Nigeria. They are one of the best to work in the country. The Central Bank of Nigeria granted Rehoboth Microfinance Bank a right to run as a microfinance institution on January 15, 2008. It, on the other hand, began operations on March 18, 2008, with the goal of serving the country’s small enterprises, disadvantaged, and financially excluded.
The bank’s head office are ideally located at 13, Aweh Crescent, Onipanu, Shomolu, Lagos, off Aladiye (Chicken) Market. This gives it access to the Onipanu chicken and fruit market traders, as well as printers distributed across Shomolu and the adjacent markets and micro – enterprises.
Rehoboth Microfinance Bank’s average salary is ₦149,100. This information was gathered by two Rehoboth Microfinance Bank staff. Account Officer, Head of Operations, and other positions are among the openings available.
ADDOSSER MICROFINANCE BANK
Addosser Microfinance Bank Limited is a Lagos-based microfinance institution that was founded on May 27, 2008. This microfinance bank contributes to the expansion of finance alternatives for micro, small, and medium-sized businesses by offering financial support in the form of value-added products & services.
Addosser Bank is indeed one of the nation’s top microfinance institutions. It has four business segments that offer a diverse range of products and services to its customers: Retail and Microenterprise Banking, SME Banking, Consumer Banking, and Specialized Products and Investment.
Addosser Microfinance Bank’s average salary is ₦114,287 which places this institution among the highest-paying microfinance banks in Nigeria today. This information was gathered by eight Addosser Microfinance Bank staff. Customer Service Officer, Funds Transfer Officer, Supervisor, Recovery Officer, Finance Officer, SME Senior Credit Risk Analyst, and more positions are available.
ACCION MICROFINANCE BANK
Accion Microfinance Bank is a Latin American microfinance institution founded in the 1960s. It is now one of Nigeria’s most successful microfinance institutions. Accion’s involvement in Nigeria dates back to 2006, with the company’s headquarters at Elizade Plaza, 322, Ikorodu Road, Anthony, Lagos State. They primarily lend to petty traders. They can also lend to a bunch of participants who get together in the same unit and vow to repay the debt.
Accion Microfinance Bank’s average salary is ₦103,350. Accion Microfinance Bank’s 29 staff compiled this information. Account Officer, Accountant, Administrator, Banking Officer, Branch Controller, Chartered Accountant, and more positions are available.
LAPO MICROFINANCE BANK
LAPO Microfinance Bank is one of the most well-known financial institutions in the country. It is currently one of Nigeria’s top five best-paying micro finance institutions. They are dedicated to ensuring low-income households’ social and economic emancipation by providing long-term access to responsive financial services.
Godwin Ehigiamusoe founded LAPO Microfinance Bank as a Non-Governmental Organization (NGO) in the late 1980s. This was due to the consequences of the Structural Adjustment Programme (SAPintroduction )’s in 1986.
With the progression of time, LAPO Microfinance Bank has established itself as one of the main financial organizations assisting in the improvement of the impoverished people’s quality of life in the country.
LAPO Microfinance Bank employees earned a median annual salary of ₦93,524 per month. LAPO Microfinance Bank’s 65 staff gathered this information. Accountant, Administrative Officer, Area Manager, Assistant Manager, Auditor, Banking Officer, and more positions are available.