Loveworld Nation, also known as Christ Embassy, has officially opened a commercial financial institution, known as Parallex Bank, with a view to redefining customer experience through digital innovation.
Checks on the bank’s website revealed that Parallex was formally a microfinance bank until the Central Bank of Nigeria, CBN, granted it license to go into full banking services.
The transition into a commercial bank was launched on Friday at its headquaters in Victoria Island, Lagos.
“Parallex Bank Limited was incorporated as a limited liability company on the 22nd day of May 2020, having successfully converted from Parallex Microfinance Bank (a National Microfinance Bank incorporated in 2008 as a Unit MFB) to a commercial bank duly licensed by the Central Bank of Nigeria to carry out commercial banking services,” the bank stated on its website.
