Development Bank of Nigeria
The Development Bank of Nigeria is a wholesale development finance institution established by the Federal Government of Nigeria to serve micro, small, and medium enterprises. It provides funding and risk-sharing facilities to eligible financial intermediaries, which in turn on-lend to MSMEs across the country.
History
DBN was established in 2015. 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, European Investment Bank, and French Development Agency.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.
In 2023, DBN raised ₦23 billion in the first tranche of its ₦100 billion bond issuance programme support to MSMEs.