Development Bank of Nigeria (DBN) — review & details
A federal wholesale development bank: it doesn't lend to you directly — it funds participating banks and microfinance banks who on-lend to MSMEs, typically at concessional rates and longer tenors than an ordinary commercial loan.
Best for long tenors
Development Bank of Nigeria (DBN)
★★★★☆
Concessional (set by your bank/MFB)
Interest
MSME-scale (via your lender)
Loan Amount
Longer tenors (up to ~10 years)
Term
Federal wholesale development bank
Provider
Through participating banks/MFBs
Access
Longer-term MSME finance
Best For
large
Amount Tier
Pros
- Longer tenors than commercial loans
- On-lent through licensed banks/MFBs (regulated)
- Serves MSMEs that banks often overlook
Cons
- You can't borrow from DBN directly — apply via a participating bank/MFB
- Final rate and terms depend on that intermediary
- Still needs registration and business records
Fees, eligibility & documents
Fees
InterestConcessional (set by your bank/MFB)
AccessVia a participating bank/MFB (not direct)
TermLonger tenors (up to ~10 years)
Eligibility
- A CAC-registered business
- Trading history / bank statements
- A Tax ID (your NIN or CAC number)
Documents needed
- CAC certificate
- Recent bank statements
- Valid director ID; a business plan for larger facilities
How Development Bank of Nigeria (DBN) compares in business loans
| Development Bank of Nigeria (DBN) | Bank of Industry (BOI) | Accion Microfinance Bank | |
|---|---|---|---|
| Interest | Concessional (set by your bank/MFB) | ≈9%/yr (subsidised) | — |
| Loan Amount | MSME-scale (via your lender) | From ₦5m (SME schemes to ₦1bn) | — |
| Term | Longer tenors (up to ~10 years) | 3–5 years (moratorium up to 12mo) | — |
| Provider | Federal wholesale development bank | Federal govt development bank | — |
| Access | Through participating banks/MFBs | — | — |
| Best For | Longer-term MSME finance | Registered SMEs with a solid plan | Small businesses that want a banking relationship and advisory support, not just cash |
| Visit DBN → | Visit BOI → | Visit Accion MfB → |
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