Weekend Trust reports that the bank, being managed by the Navy Holdings, a private firm of the maritime force, was licensed by the Central Bank of Nigeria to provide financial solutions and empower naval personnel, their families, and other Nigerians.

Speaking at the bank’s 10th anniversary, the Director of Supervision, Olatunji Ayoade, described the achievement as a testament to the institution’s dedication to financial inclusion and economic empowerment.

He said, “From a very humble beginning, with a seed capital of N20 million, we have expanded our services, enhanced financial inclusion, and helped thousands achieve economic stability.

“We are now worth in excess of N19 billion. In 2024 alone, your bank doubled its balance sheet. Thus, this is not just an anniversary—it is a testament to our shared vision, dedication, and the unwavering trust placed in us by our founders and customers.

Ayoade stated that the bank has been providing secure banking solutions for naval personnel and the general public, and it has played a critical role in supporting small businesses, facilitating wealth creation and promoting financial empowerment.

The Group Managing Director and Chief Executive Officer of Navy Holdings Limited, Rear Admiral Zakariya Muhammad, commended the bank’s leadership and staff for their contributions to its success.

He urged them to embrace innovation, strengthen corporate governance, and expand outreach to further drive financial inclusion and economic opportunities.

“The accomplishments of NNMF Bank over the past ten years are worthy of commendation. This bank has provided financial empowerment, supported small businesses, facilitated wealth creation, and ensured that our servicemen and women have access to secure and reliable banking solutions,” Muhammad said.

He urged the institution to embrace innovation, expand outreach, strengthen corporate governance, and foster strategic partnerships to enhance financial inclusion.