Nnebuife Community Bank Limited was an initiative of Development Education Centre (DEC), Enugu, a Non-Governmental Organization, committed to women socio-economic development. Through its efforts at women mobilization and empowerment for participatory development, DEC brought together over 100 women self-help groups which formed an umbrella Association known as Nnebuife Community Development Association.
The Association has a savings and credit scheme for its members, under the supervision of DEC. To help it strengthen its growing operations. The Association joined forces with DEC to float the Nnebuife community Bank in 1995. It commenced community banking operation on August 7, 1997.
Following the strategic reform to straighten the Nigeria financial system, the Central Bank of Nigeria (CBN) embarked on an extensive review and regulatory restructuring of the microfinance sector. To this end, it released in December 2005, a National Microfinance policy framework for Nigeria, aimed at enhancing the provision of diversified microfinance services on a long-term, and on a sustainable basis for the economically active poor and low income groups.
Nnebuife Community Bank Limited was converted to Dec Enugu Microfinance Bank Limited as a Unit Bank on 17th May 2007, with a provisional licenses and was granted final license on 7th of December, 2007.