FRSC Divests Safeline Microfinance Bank, Hands Over to ROBOPAY
The Federal Road Safety Corps (FRSC) has formally handed over ownership of Safeline Microfinance Bank to ROBOPAY NIG. LTD., as part of Corps Marshal Shehu Mohammed’s drive to reposition the institution for competitiveness and technological growth.
The handing and take-over ceremony was held on Monday, 5 October 2026, at the premises of the bank in Abuja.
Safeline Microfinance Bank was established by the FRSC to provide financial services for members of the Corps and other stakeholders.
Speaking at the ceremony, the Chairman of the Board, Engr. Ibrahim Babagana, fwc, Deputy Corps Marshal (Rtd.), said the decision to divest followed careful consideration of the prevailing regulatory environment and emerging government policies affecting microfinance banks.
According to him, sustaining the bank would require significant additional capital injection, substantial investment in technology and strengthening of its human capital.
He said the Board considered it necessary to place the institution in the hands of an investor with the capacity to make the required investments and drive long-term sustainability.
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Babagana expressed confidence in the new owners, saying ROBOPAY had demonstrated competence, commitment and vision to build on the foundation laid by the FRSC.
He noted that the new owners had shown commitment to strengthening the bank’s capital base, deploying modern technology and investing in human resources, describing these as critical to remain competitive in an increasingly digital financial environment.
Responding, Malam Aliyu Abiodun, speaking on behalf of ROBOPAY NIG. LTD., thanked the Board and Management for the confidence reposed in the company, describing the acquisition as a major milestone.
Abiodun noted that Safeline Microfinance Bank already possesses valuable assets and institutional foundation upon which the new owners intend to build.
He said ROBOPAY would deploy financial technology alongside strategic investment in capital, technology and human resources to transform operations, enhance service delivery and expand competitiveness.
“The transition represents more than a change of ownership; it signals a strategic shift towards a technology-driven and investment-led future,” he said.
Both parties expressed commitment to a seamless transition to ensure the institution emerges stronger and better positioned to deliver sustainable value to customers and stakeholders.
