Ajayi’s Desire For Advancement — Leadership Newspaper
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Ajayi’s Desire For Advancement



One of the major challenges business men and women have to endure, especially in Nigeria, is the lack of access to enough money to start up. Olufumilayo Amunega-Ajayi, however, having spent many years in the banking sector, believes that the birth of micro finance banks has began to address the issue especially as it relates to businesswomen.

We are committed to providing innovative, efficient and dependable banking…

BFL Microfinance Bank is envisioned to bring financial assistance to the active but poor people whose dream is somehow hampered because they do not have financial impetus. Our bank is one of the numerous microfinance banks that came into existence in 2007 when promoters were granted Approval in Principle (AIP). The final license we obtained in March 2008. We have opened our doors to the banking public since then and many people have patronised our services. We are committed to providing innovative, efficient and dependable banking services in a friendly environment to the satisfaction of our numerous customers and to the benefits of our stakeholders.

Our ultimate aim is to empower the poor by providing financial assistance which will lead to their common economic independence and job creation. Poverty alleviation is a major policy thrust of the federal government of Nigeria and that is why we are committed in reaching our people in all nooks and crannies without compromising standards and professional ethics.

Our services also includes following up on our customers’…

We work in line with the enabling law establishing microfinance banks in Nigeria to design and develop a range of products and services targeted at different market segments in the economy, to meet specific customers’ need. We offer services like the BFL Asset Acquisition/ lease scheme (credit and lease facility), BFL Cooperate Guarantee  Scheme ( formation of cooperative where nonexistent),  BFL premium account, the ‘Akawo’ account, BFL school fees account, BFL early cash scheme, BFL savings account, BFL current account and BFL fixed deposits.

Besides these services, we also offer free financial advisory services to those who lack sound knowledge of business management and banking. Our services also includes following up on our customers’ to know how they are faring.

Women’s economic empowerment is critical to achieving the inclusive economic growth…

It has always been my desire to put a smile on people’s faces especially the female folk. When I found out that most women have the challenge of accessing facilities for their businesses, I came up with BFL Microfinance bank after years of proven expertise in the banking sector. This incredible facility has significantly impacted women’s economic development in the country just as much as it has help increase opportunities and economic growth while addressing unique barriers women entrepreneurs face. I am proud that BFL is helping to lead and support this unprecedented initiative. Women’s economic empowerment is critical to achieving the inclusive economic growth required to end extreme poverty. That is why it has been such a longstanding priority for us at BFL. This facility offers unprecedented opportunities to harness both public and private sectors to open new doors of opportunity for women entrepreneurs and women-owned firms around the country.

    Everyone benefits when women have the resources they need to participate fully in our economies and societies. Our organisation is determined to help women gain the tools they need to be successful entrepreneurs and leaders. This important investment will help women in developing country like Nigeria to create jobs, build economies that work for everyone, and have a real and fair chance at success.

Passion for what you love doing has a way of reinvigorating initiatives…

There is no business without challenges, mine was not an exception. I actually passed through series of challenges but what kept me going was my passion for what I do. Passion for what you love doing has a way of reinvigorating initiatives to tackle whatever problems come up.

One of such challenge was that of accessing funds to execute some of the projects. No bank wanted to lend me money so I had to make do with the little I had. Another challenge of doing business in our country is power. We spend so much money buying fuel thereby affecting our business financial purse. But be that as it may, we were able to surmount all the challenges.

How you use your time invariably determines the height you can attain in the ladder of success…

I agree that banking jobs are quite demanding but God has given 24 hours to everyone a day. How you use your time invariably determines the height you can attain in the ladder of success. As I said earlier, my topmost priority in life is to put smile on people’s faces; that is what makes me happy. So I try as much as possible to fulfill that by giving little assistance to people thereby helping them to achieve their dreams even if I cannot ultimately satisfy man’s need because I am not God.

I take my job seriously and as much as I believe in hard work, I also acknowledge the fact that it is God that gives the power to make wealth so I create time to pay my allegiance to God.

Talking about my family life, each time I shutdown from work, I focus on family matters. I make sure that I fulfil my obligation as a wife and mother in the house, and by God’s grace, I am blessed to have a lovely and supportive family. I don’t take that for granted, family always comes first before any business.

If any stone is thrown at you, you turn that stone to a stepping stone…

Whatever young entrepreneurs do, they should be focused. You can only have challenges and that is not a problem before any challenge comes to you God knows that you can handle them. You know what they say, if any stone is thrown at you, you turn that stone to a stepping stone and when you overcome whatever challenge it is, when you see it next time, it will no longer be a challenge. So they should be resilience in their pursuit in life. And women should not say because they are women they can’t achieve anything in life. Today we have women mechanics, engineers, builders, architect doing very well in these areas.

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