FRSC transfers Safeline Microfinance Bank ownership to ROBOPAY

The Federal Road Safety Corps (FRSC) has formally transferred ownership of Safeline Microfinance Bank to ROBOPAY NIG. LTD. during a ceremony held in Abuja. The divestment aims to reposition the institution for greater competitiveness, technological transformation, and sustainable growth within an evolving regulatory environment.

Engr. Ibrahim Babagana, Chairman of the Board of Safeline Microfinance Bank, stated that the decision was driven by the need for significant capital injections, technological investments, and human capital strengthening to navigate the changing financial landscape. He noted that the transfer to an investor with the capacity for such investments was necessary for long-term sustainability.

ROBOPAY NIG. LTD. has committed to strengthening the bank’s capital base and deploying modern technology to remain competitive in the digital financial services sector. Malam Aliyu Abiodun, representing ROBOPAY, described the acquisition as a major milestone for the company.