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Best in-class micro-lending and business services to micro, small and medium enterprises (MSMEs)

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ABOUT US

We deliver unequaled financial services through well trained and friendly workforce, helping individuals meet their financial goals and supporting micro, small and medium enterprises to grow.

OUR VISION

To be a household name amongst our target market.

OUR MISSION

To deliver superior micro services focused on poverty alleviation, financial inclusion and empowerment using customised technology while creating value for all stakeholders.

Meet the Managing Director/CEO
Adolphus Aletor
(MCIB, FCA, MBA)

He has over twenty-four years of banking experience at various levels. Prior to his current role as Managing Director of Rigo MFB, he held a Group Head position at Sterling Bank Plc. He is a fellow of ICAN and a CIBN-certified Microfinance banker. He is an alumnus of Columbia Business School, NYU Stern school of business, and Lagos Business school, where he acquired executive education.

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THE BOARD

Mrs Bridget Devos

Chairman

Mrs Bridget Devos, is a successful livestock farmer, with a massive livestock farm in the northern part of Cameroun, she has cut a niche as a successful entrepreneur.

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Ms. Rose Oghenekaro

Director

Ms Rose Aghogho Oghenekaro is a Financial and Lifestyle Consultant with specialty in funds and portfolio management with over 20 years of industry experience.

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Ms. Akeju Fadeke

Fadeke Akeju is the Managing Partner of WYS Solicitors, a specialist law firm for the African Gaming Industry. She was the pioneer Legal Adviser / Board Secretary of the Lagos State Lotteries Board and as a regulator, 

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Mrs. Jiyere Aletor

Director

Mrs Ejiyere Joy Aletor is an entrepreneur dealing with FMCG goods produced by major Multinationals in Nigeria. She was a cabin executive with ADC Airlines for almost 9 years.

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Mr. Joseph Ikogho

Director

Mr. Joseph Ikogho is an IT Consultant with bias of digital marketing. His specialization has seen him consult for notable organisations on a freelance basis.

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Mr. Femi Obaleke

Mr Femi Obaleke (HCIB) is the GMD of Capital Express Financial Services Group, comprising Capital Express Securities Limited, Capital Express Asset Management Limited and Capital Express Global Trustees Limited.

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PRODUCTS AND SERVICES

Group of individuals takes loans for income generating activity wherein group members guarantee each other’s loans.

  • A group of 5 members minimum and maximum of 15 members.
  • Group application letter to be signed by the group leader and the secretary (on group letter-head).
  • Application forms to be completed by all group members.
  • Appoint 1 leader and 1 secretary to manage the group.
  • Set only one meeting point (maybe leader’s house or shop or other generally agreed location).
  • 2 guarantors (one from the group and one other business man /woman from outside the group).
  • 1 family/relative referee
  • Loan from N50, 000 to N150, 000 for each members of the group at the same time.
  • Repayment must be daily/weekly, monthly repayment is not allowed under this product.

Terms and Conditions apply.

This is our exclusive product designed to support businesses and not limited to any particular type of industry or service, and includes small manufacturing companies, trading companies, retailing, rental service company etc.

  • Borrower must live and work within Lagos State
  • Borrower must have an active business and flows of income with a lockup shop.
  • Length of business must not be less than 6 months
  • Shop rent receipt
  • Borrower must a have a verifiable monthly income from identified business.
  • Last 6 months ‘bank statement
  • Cheque is compulsory
  • Repayment is either daily or weekly
  • 2 guarantors required

Terms and Conditions apply.

This is our special lending package to emerging wealthy individuals.

  • Operate savings account daily for one month.
  • Disbursement range is N30, 000 to N150, 000
  • Tenor is between 30-60 working days
  • Repayment is daily cash collection
  • 1 guarantor is required
  • No collateral is required.

Terms and Conditions apply.

  • Client must be a confirmed staff of a Bank
  • Loan application letter
  • Six (6) months’ salary bank statement/ pay slips
  • Letter of employment/ last promotion letter
  • Maximum tenor for the loan is six (6) months
  • Repayment shall not exceed 33% of the monthly salary
  • Repayment mode is strictly through cheque/ Remita (standing order) mandate on t client’s salary account
  • 2 guarantors required one of which must be a banker.
  • No collateral is required

 

Terms and Conditions apply.

Rolling period:                          30 – 90 days maximum (must never exceed the period on the contract)
LOAN AMOUNT:                        75% of total Invoices or contract value to be availed

CUSTOMER’S CONTRIBUTION: 25% of the loan value
Minimum Value:                       As indicated on Invoice

Security: Domiciliation of proceeds or Nomination of bank account or any other type of security acceptable to RIGO MICROFINANCE BANK LTD

  • Original invoices, contract and/or LPO and Way bill (where applicable) to be submitted.
  • Irrevocable Tripartite domiciliation of agreement in respect of Contract proceeds executed by beneficiary company, Rigo Microfinance Bank and the employer company. 
  • Letter from Employer confirming the LPO, Contracts and/or invoice and the details & time of payment.
  • Letter of domiciliation of contract payment from contracting Company.
  • Other general loans requirements

Terms and Conditions apply.

  • Not more than N2m for 2nd hand only
  • 30% equity contribution.
  • 10% initial deposit into savings account.
  • Maximum tenor is 12 months
  • Customer to make deposits for insurance, tracking mechanism and registration/licensing fees – vehicles must be comprehensively insured before customers take possession.
  • Fund to be released to vehicle vendors directly.
  • Vendors must be in the Bank’s pre-qualified list.
  • Vehicles must be purchased in the name of the Bank.
  • Original ownership documents must be domiciled with the Bank.
  • Vehicles to be financed must be for personal or commercial use.
  • Other general loans requirements

Terms and Conditions apply.

  • Client must be in active employment
  • Client’s employer must meet Rigo MFB’s prequalification terms
  • Loan application letter
  • Six (6) months’ salary bank statement/ pay slips
  • Letter of employment/ last promotion letter
  • Maximum tenor for the loan is six (6) months
  • Repayment shall not exceed 33% of the monthly salary
  • Repayment mode is strictly through cheque/ Remita (standing order) mandate on t client’s salary account
  • 2 guarantors required one of which must be working in the same company
  • No collateral is required

Terms and Conditions apply.

As a Bank, we recognize the impact of educational institutions in a society. Therefore, this facility is specially created to support schools and meet their urgent needs. Also, we finance their suppliers of books and other educational materials. It is also our exclusive credit Plans for school employees, providing lower rate of interest and offering them access to banking services at low rate of interest, quick processing and servicing.

SCHOOLS:

  • Applicants for this loan product must first have their schools assessed with the below documents:
  • CAC registration documents (original should be sighted).
  • Licenses and/or trading/practicing approval.
  • Six (6) months bank statement
  • Students register and staff and maintenance expenses records
  • customer to obtain 6 months statement of account
  • 2 guarantors (1 school proprietor and any corporate worker)
  • Signed blanked cheques (front & twice at back)
  • Repayment pattern to be schedule on termly basis

Terms and Conditions apply.

  • Client must be in active employment in a recognized school
  • Client’s employer must meet Rigo MFB’s prequalification terms
  • Loan application letter
  • Six (6) months’ salary bank statement/ pay slips
  • Letter of employment/ last promotion letter
  • Maximum tenor for the loan is six (6) months
  • Repayment shall not exceed 33% of the monthly salary
  • Repayment mode is strictly through cheque/ Remita (standing order) mandate on t client’s salary account
  • 2 guarantors required one of which must be working in the same company
  • No collateral is required

Terms and Conditions apply.

It gives you the opportunity to own that asset you have always longed for either for Business or for Personal use such as machines, Deep freezers, personal computers and notebooks, generators, washing machines, household furniture, gas/electric cookers, electronic and electrical appliances.

  • Minimum value of N50,000 and Maximum N1m value of item(s).
  • Client must be a confirmed staff
  • Loan application letter
  • Six (6) months’ salary bank statement/ pay slips
  • Letter of employment/ last promotion letter
  • Maximum tenor for the loan is six (6) months
  • Repayment shall not exceed 33% of the monthly salary
  • Repayment mode is strictly through cheque/ Remita (standing order) mandate on t client’s salary account
  • 2 guarantors required
  • No collateral is required

CONDITIONS:

  • Must be comprehensively insured before customer can take possession.
  • Payments to be made to vendors directly.
  • Vendors must be in the Bank’s pre-qualified list of Vendors.
  • Asset must be purchased in the name of the Bank.
  • All original ownership documents must be domiciled with the Bank.
  • Asset to be financed must be for personal or commercial use.

Terms and Conditions apply.

  • Minimum N30,000 and maximum N500,000 worth of items
  • 2 Guarantors (Business men/women who have shops with evidence of rent/lease or ownership)
  • Borrower must live and work within Lagos State.
  • Borrower must have an active business and flows of income in a lock up shop.
  • Length of business must not be less than 6 months.
  • Borrower must have a verifiable monthly income from identified business
  • Repayment is either daily or weekly

CONDITIONS:

  • Must be comprehensively insured before customer can take possession.
  • Fund to be released to vendors directly.
  • Vendors must be in the Bank’s pre-qualified list.
  • Asset must be purchased in the name of the Bank.
  • Original ownership documents must be domiciled with the Bank.
  • Asset to be financed must be for personal or commercial use.

Terms and Conditions apply.

DEPOSIT AND SAVINGS PRODUCTS

To encourage the savings culture of employees while giving them easy access to loans at a competitive rate.

  • Minimum of 5 members and above.
  • Minimum monthly contribution of 5000 naira.
  • Loan outstanding deductions from share of profit and savings.
  • Access to 200% of savings as loan.
  • Equal share of profit on loans disbursed at the end of the year by RIGO MFB and the cooperative group (Negotiable)

This target savings account is to meet the future needs of our clients.

  • Flexible savings account, minimum 1000 naira daily.
  • Saving up to 60,000 in three months qualifies for rollover interest.
  • Qualify for a maximum loan facility of 200% of the savings balance.

Save for 3months

Save for 6months

Save for 9 months

Earn 500 monthly for the next 3 months

Earn 750 monthly for the next 3months

Earn 1000 monthly for the next 3 months.

 

  • Account balance of 250,000 and above at the end of 8 months attracts SME startup support of 40% of the total sum match up loan.

This is a target savings towards all festivities in Nigeria. The customer has a choice to commence 6 or 12months to target festivity. On maturity, the customer does not get the cash back but receives food items instead. During the period of savings interest is paid monthly at 2%.  There are 2 packages.

Package 1: Save N250 daily for 6months or N150 daily for 1Year). Total is N54,000.00. At maturity you get the following.

  • A bag of local rice
  • A carton of Tin tomatoes
  • 4 litre Groundnut oil
  • A pack of Milk
  • A pack of Sugar
  • A carton of Indomie
  • A bucket of Custard
  • A pack of Maggi
  • A pack of Salt

Package 2: Save N500 daily for 6months or N250 daily for 1Year). Total is N90,000.00.  At maturity you get the following.

  • A sizeable live Goat
  • 1 live Chicken
  • 3 tubers of yam
  • A bag of local rice
  • A pack of Honeywell wheat meal
  • A carton of Tin tomatoes
  • 4 litre Groundnut oil
  • A pack of Milk
  • A pack of Sugar
  • A carton of Indomie
  • A bucket of Custard
  • A pack of Maggi
  • A pack of Salt

Open a savings account and save for your children below the age of 16 years.

Features:

  1. No fixed tenor
  2. Save any amount. No limit on savings
  3. Flexible Interest rate
  4. Birthday messages
  5. Special Birthday pack to mark teenage age

Rigo Note is a high impact, high yield fixed income and investment product with the following features.

  1. High (Negotiable) Interest rate
  2. Minimum tenor of 180days
  3. Partial liquidation is allowed but with penalty
  4. Minimum investment is N1,000,000.00

DIASPORA PRODUCTS (RIGO DIASPORA) - DIRECT INVESTMENT

Micro-mortgage is seen as housing loans of long duration (generally ten years or more) that exhibit all characteristics of traditional mortgage loans (long repayment period, house as collateral for the loan, ability to foreclose and sell the house in case of default) and are small enough that they can be afforded by middle to lower class households. The models are as follow:

  1. Save and Buy
  • Save for a period
  • Earn interest at 10% per annum
  • Choose a tenor for your own savings
  • Buy a property with the proceed of saving
  • Terms and conditions apply
  1. Point and Kill(Locate and Buy)
  • Identify an investment/property
  • We confirm the investment /property of choice
  • You provide the fund
  • We pay on your behalf
  • Terms and conditions apply
  1. Save and Finance
  • Invest any sum for 5years
  • Interest is payable every year
  • Interest is 18% per annum
  • You can exit before a year but forfeit interest
  • Proceed of the fund is to finance mortgage only
  • Your savings is collaterized by the property financed
  • Property financed is recovered and falls back to the Rigo at the point of default by borrowers
  • Fund is secured at any point in time with property acquired.

Micro Pensions are small amounts of money individually saved during working life and invested collectively to yield returns. On the agreed withdrawal date the accumulated capital can be paid out in lump sum or periodically via an annuity. Micro pensions are aimed at low-income people who are often financially illiterate and have limited access to financial services.

        Invest in your future and secure your retirement

  • Save fixed amount monthly
  • Choose a convenient pay plan
  • Save fixed amount consistently over a period
  • Earn 10% annually on savings, if no withdrawal in 5years
  • Early withdrawal without interest.

Earn 2.5% on withdrawals made with savings not up to 5years but more than 2years.

Clergy pensions provide a typical ‘defined benefit’ pension.
You receive a pension based on your service and the National Minimum Stipend. Your Responsible Body (this could be your diocese or employer) meets the cost of providing your pension or commences a deliberate savings plan.

  • Choose an amount to save monthly
  • Save over 5-10years
  • Interest is 10% per annum for 5years
  • Early withdrawal without interest
  • Compound interest applies
  • You may choose to renew after 5years
  • Earn additional 2% if saving is for 10years.

A private pension is a plan into which individuals contribute from their earnings, which then will pay them a private pension after retirement.

  • Choose an amount to save monthly
  • Save over 5-10years
  • Interest is 10% per annum for 5years
  • Early withdrawal without interest
  • Compound interest applies
  • You may choose to renew after 5years
  • Earn additional 2% if saving is for 10years.

Micro-leasing is a contractual agreement between two parties, which allows one party (the lessee) to use an asset owned by the other (the lessor) in exchange for specified periodic payments. Buy asset for your family and friends back home and get them to generate sustainable income for their upkeep. Assets like car, bus, boat, keke, grinding machine, block moulding machine, generators etc. Shall be bought and managed by Rigo on your behalf.

  • Introduce beneficiary in Nigeria
  • Save towards asset purchase or
  • Send fund for asset purchase
  • Asset is purchase in the name of Rigo
  • Beneficiary use asset as agreed

Terms and conditions apply.

Micro insurance is the protection of low-income people against specific perils in exchange for regular premium payment proportionate to the likelihood and cost of the risks involved.

Ajo describes traditional forms of cooperation in African societies whereby groups of individuals contribute to informal savings and credit associations for their mutual benefit.

  • Save minimum of $20, £10, 10Euro weekly
  • Transfer equivalent through western union or other money transfer agency
  • Save for 1year and earn 4% per annum
  • Save for 5years and earn 10% per annum
  • You can withdraw anytime but forfeit interest

RDDI is a high impact, high yield fixed income and investment product with the following features.

  1. High (Negotiable) Interest rate
  2. Minimum tenor of 180days
  3. Partial liquidation is allowed but with penalty
  4. Minimum investment is N1,000,000.00

Extremely fast and safe money transfer to an account in any bank. Allows you to beat the queue and save time. Why stay on queue when with Rigo express you get your transactions done faster and safe?

  1. Allows cash deposit into any account in any bank
  2. Allows cash withdrawal from any account in any bank

Allows transfer to third parties with account in any bank.

CAREERS

At RIGO we are always looking at expanding our team of highly skilled professionals. If you have what it takes to succeed in a fast-paced environment, then send your resume to career@rigomfb.com

Apply Here

LOAN CALCULATOR

EMI:

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Total Interest Payable:

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Total of Payments (Principal + Interest):

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CONTACT US

VISIT US

Suite 23, Yomade Shopping Complex, Awoyaya, Ibeju-Lekki, Lagos State.

CALL US

+234 903 114 3611 or +234 803 341 0380

SEND US AN EMAIL

info@rigomfb.com

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Adolphus Areban Aletor graduated with a Distinction in Accountancy from Auchi Polytechnic Auchi, Edo State Nigeria where he bagged a Higher National Diploma (HND). He also holds an MBA (Management) from Delta State University, Abraka, Delta State, Nigeria and is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) having qualified as a Chartered Accountant in November 1999. He was with Equitorial Trust Bank Limited before it was acquired by Sterling Bank Plc, where he managed one of the fastest growing branches within the network. He received special commendation for breaking even by the second month of operation while managing one of the new branches in Port Harcourt.

He was Head of Sales for New Businesses comprising Education and Health in Sterling Bank Plc. He took responsibility for new businesses bankwide and operated from the headoffice. His responsibility included the identification, incubation and development of sector businesses with a view to focusing on skill set and applying knowledge based approach to the business of the chosen sectors. He drove education business to over N10billion and over 30000 retail accounts within a few months of taking over leadership. He was linked with various initiatives around education business notable among which is providing leadership among participating banks in the AfDB USD40million expansion loan to Afe Babalola University, which have impacted on the brand and bottom line positively. He has served in relief capacity as the Chief Strategist of Sterling Bank Plc overseeing Corporate Strategy, Investor Relations, Research and Development and New Businesses.

Prior to his current job, he was Regional Business Head (RBH), Commercial and Institutional Banking in South South operating from Port Harcourt. He was Business Manager Port Harcourt main branch for several years.  His branch was the largest in terms of deposit within South South and South East region of Sterling Bank Plc. He has effectively served in relief capacity severally in the region where he was the backup to the General Manager, SS/SE.

Before joining Equitorial Trust Bank Limited, he was Regional Manager (Public Sector-East) at Universal Trust Bank Plc, Area Manager (Public Sector-Port Harcourt) in Skye Bank Plc and Regional Marketing Officer (East) at First Bank Plc. He started his Banking career in 1999 with United Bank for Africa Plc, where he was responsible for branch customer service. He was also Head of operations at NNB International Bank Plc.

Adolphus is an alumni of New York University (NYU) Stern Executive Education short course in Breakthrough Strategic Thinking. He is also a product of Columbia University Graduate Business School, New York where he did a short course in Leadership Essentials under their Executive Education program. He successfully completed courses on Leadership in Lagos Business School (LBS) and Credit/International Banking in SBI Academy, India. He is happily married with children.

Mrs Bridget Devos, is a successful livestock farmer, with a massive livestock farm in the northern part of Cameroun, she has cut a niche as a successful entrepreneur. In addition to her farm, she currently owns Caroline Ventures and has managed Djibao Safari, a company she conformed with her husband to cater for tourists visiting Mandigrin in Cameroun. Apart from farming, she is also a Conflict resolution specialist. She commenced her conflict resolution career at African Peace Institute, Lagos in 1988 where she proceeded to attend several courses in peacekeeping and conflict management. Her quest for specialization saw her attend Peace University, Costa Rica, European Peace University, Austria and Upsala University, Sweden. In 1995, she was in India for training on Conflict resolution in 3rd world countries. Bridget is a graduate of the Obafemi Awolowo University, Ile Ife. She has a Bachelors and Masters degree in International Relations in addition to various diplomas in conflict resolution, negotiation and peacekeeping. The Board will be depending on her entrepreneurial skill to stir the affairs of the Bank.

Ms Rose Aghogho Oghenekaro is a Financial and Lifestyle Consultant with specialty in funds and portfolio management. Before retiring to consultancy, she had recorded an uninterrupted financial industry experience spanning over 20 years. She was in UBA Plc’s corporate banking group heading the Breweries and Beverages unit, where her performance gave the bank unprecedented visibility. She was also branch manager of a branch in UBA on a rescue mission. Prior to her experience in UBA, she was in Financial Derivatives as Group Head, Capital markets from 1992 to 2005. She was a graduate teacher at UNILAG, a Self Employed teacher and entrepreneur and a sales representative at Marie motors. Rose graduated from University of Ife with a second class upper in Geography. Rose has attended several trainings notable among them are Kellog School of Management, Lagos Business School, IFBC Agusto International Financial Corporation etc. The Board shall be relying on her vast experience to achieve the vision of the Cooperative.

Fadeke Akeju is the Managing Partner of WYS Solicitors, a specialist law firm for the African Gaming Industry. She was the pioneer Legal Adviser / Board Secretary of the Lagos State Lotteries Board and as a regulator, she was integral to revenue generation growth of the gaming industry in Lagos State; the transition of lottery operation from manual to automated processes and the establishment of a regulatory framework for the sports betting sector.
She is a legal practitioner with career in private sector and experience in public sector administration and government relations. ‘Fadeke started her legal career as an associate in the corporate/commercial unit of Olalekan Yusuf & Co before she joined LASACO Assurance Plc, as Assistant Company Secretary where she actively participated in the recapitalization of the Insurance Company.
Fadeke Akeju is an Alumni of Lagos State University and member of Institute of Chartered Secretary and Administration, UK; Chartered Institute of Personnel Management (Nigeria), International Bar Association and International Association of Gaming Advisor.

Mrs Ejiyere Joy Aletor is an entrepreneur dealing with FMCG goods produced by major Multinationals in Nigeria. Prior to her resignation from employment, she was a cabin executive with ADC Airlines for almost 9 years. Her doggedness and faith saw her survive the daunting global aviation challenges and those peculiar to Nigeria at the time. She is resolute. While with ADC, she recorded several thousands of flying hours within Nigeria, the West Coast and the Middle East. Her vision of the future spurred her to obtain a Master’s degree while in the employment of ADC Airlines. Her desire to broaden her experience led her to the banking industry in the year 2001 when she joined NNB International Plc now Unity Bank Plc. She served as a customer service officer and later in business development in Warri and Port Harcourt respectively. Ejiyere holds a Bachelor of Arts Degree (B.A) in English, a Post Graduate Diploma in Management Science, and a Master’s degree in Business Administration (MBA) from Ambrose Alli University, Ekpoma and ESUT Business School respectively. She has been exposed to several banking training comprising, Customer Service, Banking Operations, and Money Laundry and is happily married with children.

Joseph Ikogho is an IT Consultant with a bias in Digital Marketing. His specialization has seen him consult for notable organizations on a freelance basis. He is also a blogger with a particular interest in fashion and lifestyle. He has, on a freelance basis, consulted for House on the Rock, Enugu, Geosquaremeter Innovative Ltd., and Enugu State Ministry of Lands and Urban Development. He has consulted for Logon Nigeria, Etisalat Nigeria, MTN Nigeria, Connect Nigeria, and LifeCastle Investment.

Joseph was born on August 14, 1983, and is a graduate of Computer Science from Ambrose Alli University, Ekpoma.

The Board will depend on his youthfulness, energy, and IT background to provide direction.

Mr. Femi Obaleke (HCIB) is the current GMD of Capital Express Financial Services Group , comprising Capital Express Securities Limited, Capital Express Asset Management Limited and Capital Express Global Trustees Limited. He has  over two decades of experience in the financial services industry.

He has worked in a number of banks including  Access Bank PLC, where he was the  Pioneer General Manager, Business Banking and Sterling Bank Plc, where he was Executive Director, Commercial and Insitutional Banking .

His banking experience covers Sales, Business development, Treasury, International Operations and Branch Expansion.

He also worked in the Insurance Industry where he was an Executive Director in Coronation Insurance plc . His experience covers Retail , Public Sector, Commercial Sales and Distribution, and International Subsidiaries.

He holds a Bachelor’s degree in Management Economics from the University of Ibadan and a Masters degree  in Business Administration from Abubakar Tafawa Balewa University. He is a member of the Chartered Institute of Bankers and has attended various  Executive Management programs in leading Business Schools locally and Internationally.