| Founded | 2015 |
|---|---|
| Headquarters | Nigeria |
Key people | MD: Dr. Tony Okpanachi, |
The Development Bank of Nigeria (DBN) is a wholesale development finance institution established by the Federal Government of Nigeria to serve micro, small, and medium enterprises (MSMEs). It provides funding and risk-sharing facilities to eligible financial intermediaries, which in turn on-lend to MSMEs across the country. [1] [2]
DBN was established in 2015. [3] The bank commenced operations with a startup capital of $1.5 billion, sourced from the Federal Government and international development partners, including the World Bank, African Development Bank (AfDB), European Investment Bank (EIB), and French Development Agency (AFD). It operates as a wholesale financial institution, providing funding and risk-sharing facilities to microfinance banks and other financial institutions for on-lending to MSMEs. [4]
Since its inception, DBN has reportedly disbursed over ₦1 trillion to more than 495,000 MSMEs across Nigeria. In 2023 alone, the bank disbursed ₦ 787 billion to over 495,000 MSMEs. [5] [6]
In 2023, DBN raised ₦23 billion in the first tranche of its ₦100 billion bond issuance programme support to MSMEs. [7]