ONIBUORE MICRO-FINANCE BANK LIMITED was initially conceived to start operations as a community bank by its promoters, The Executives of Independent Petroleum Marketers Association of Nigeria, (IPMAN) Ibadan branch. It was floated to provide financial and banking services and promote community development.

The promoters were able to secure an Approval In – principle (AIP) for community banking on 4th January 2005 and Onibu Ore Community Bank Limited was Incorporated as a

Limited Liability Company on 21st March 2005 by the Corporate Affair Commission with registration number RC619650. The bank started operating as a community bank soon after obtaining the AIP. The Bank’s efforts towards securing a final community banking licence were, however, overtaken by the inauguration of the micro-finance policy by the Federal Government in December, 2005.

Consequently, the promoters re-channeled their resources towards the acquisition of a micro-finance banking licence. It secured the Central Bank of Nigeria (CBN) approval for the great of a licence to operate microfinance business on 2nd January,2008.The Bank commenced operations as microfinance bank on 7th January 2008