CreditPRO Finance Company Limited has officially received its license from the Central Bank of Nigeria (CBN), marking a major milestone in its expansion plans. The Lagos-based financial institution, which started operations in 2019 under a state lending licence, now aims to scale nationwide and strengthen its support for small and medium-sized enterprises (SMEs).
At the launch in Lagos, CreditPRO Chairman Dr. Edwin Idegwu said the CBN licence adds credibility and enhances investor confidence. “This license demonstrates that investors’ funds are managed under strict regulatory oversight. It elevates our reputation as a reliable financial partner with robust governance and risk management systems,” he explained. He also noted that setting up a Board of Directors from the beginning, despite not being required under the Lagos State licence, has strengthened the company’s structure and oversight.
Read More
Managing Director Mr. Sola Adeyiga reflected on the company’s modest beginnings, recalling that they started from an apartment in Omole Phase 1 with ¦3 million in equity and ¦17 million in borrowed capital. “Since then, we have disbursed over ¦20 billion in loans to more than 2,500 SMEs and grown our portfolio to ¦1.5 billion,” he said. He emphasized that CreditPRO focuses on personalized lending solutions tailored to entrepreneurs’ unique needs rather than offering generic credit products.
The journey to obtaining the CBN licence took 15 months, and the company plans to use it as a springboard for expansion beyond Lagos and eventually across sub-Saharan Africa. “We aim to deploy AI-powered digital lending solutions, enhance collaborations with investors and regulators, and expand our reach to become Nigeria’s most trusted SME financial partner,” Adeyiga added.
Dr. Idegwu highlighted the company’s commitment to stability, innovation, and impact, stating, “The story of CreditPRO is still unfolding. The next chapter will be bigger and even more impactful.” With the new license, CreditPRO reaffirms its mission to build a sustainable institution that delivers long-term benefits to Nigeria’s SME ecosystem rather than just providing loans.
Overall, the CBN approval positions CreditPRO Finance as a credible player in Nigeria’s financial sector, strengthening its capacity to support entrepreneurship, stimulate economic growth, and introduce modern, tech-driven lending solutions nationwide.
