"I hardly believed they came down to the village market just to see my business... Gufax truly care about their customers"

Lucy, Head of Itu Fresh Fish Sellers Association


"My little business is fast expanding due to the support I receive from Gufax (MF) Bank. These people are truly different"

Edet, Fishing Material Seller

About Gufax (MF) Bank

Gufax Microfinance Bank Ltd is one of the leading Microfinance Banks in Nigeria, operating in Akwa Ibom State, in the Niger Delta region of the country. The Bank presently has total assets of N600million approximately $3.94 million.

The Bank was incorporated on April 4, 2008 and received its approval from the CBN on September 8, 2008. It started operations with an initial share capital of N20million as prescribed by the CBN. It has so far registered an increase in Share Capital from the initial N20m to N250million with the Corporate Affairs Commission on August 4, 2010. At present, the Bank’s paid up capital is above N111million.                                                                                                      

The increased Share Capital is to ensure that it reaches out to more people and meet its target of putting smiles on the faces of its customers.


Our Vision

To be the leading Microfinance institution in Nigeria that is technologically driven and globally acceptable while providing distinctively unique range of microfinance services aimed at putting smiles on the faces of its esteemed customers.


Our Mission

To render unparalleled financial services to the productive poor through a broad range of innovative financial products and services available in all our outlets.

Organizational Values


Business Focus

From inception, our primary business focus has been putting smiles on the faces of our customers by giving them unhindered access to a range of financial services not readily available to them in the conventional banks and naturally, we have grown older and more mature in our commitment to implementing more programmes that cater for our customers’ interests.


Our strategic business plan is to ensure that all productive but deprived active poor have unhindered access to credit, micro loans and other financial services to create wealth and drastically reduce poverty. To this end, ordinary traders, women, widows, youths and even the physically challenged are given express attention at all our service points.

Board Of Directors

A group of professional and dynamic men of integrity form the Board of Directors of Gufax Microfinance Bank. They are:

  • Engr. Nsikanabasi Ibanga - Chairman
  • Mr. Uduak Udo – MD/CEO
  • Engr. Bassey Iton - Director
  • Mr. Mbobo Mbobo – Director

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