In response to the challenge of government to the private sector to assist in jump starting the economy and help diversify it from the present mono product economy, a group of professionals came together to form Landgold Community Bank in December 2001.

The bank had a clear vision of what it wanted to do; that is to empower the active poor within the economy who hitherto had been excluded from the present financial system. Our main areas of focus are:

Agriculture (farmers)

Artisans

Petty traders

Cooperatve societies

Community Development Associations

Micro Buisnesses and Small and Medium scale Enterprises

The bank was incorporated in June 2002. A formal application for the grant of a license was forwarded to the Central Bank of Nigeria in August 2003, An approval-in-principle was obtained in December 2004.

Following the restructuring of the Nigerian Financial system which culminated in the consolidation of of the existing 89 commercial banks to 25 banks with minimum capitalisation of 25billion naira; the same was extended to the community banks which hitherto operated with 5million minmum capital base.

The community banks were required to convert to Microfinance Banks with a minimu capital base of 20million naira and 1billion naira respectively for unit microfinance and state microfinance bank.

Consequently, all communiy banks were directed to forward a fresh application for conversion and also to provide the additional capital of 15million naira. Landgold community Bank complied with this directive and successfully converted to a microfinance bank in August 2007 with an authorised share capital of 30million naira and paid up capital of 20million.

The bank is currently run by by a 5-man board of directors with Mr. O.A. Ogunrinde
serving as the Managing Director/CEO