NewStats: 3,263,196 , 8,179,370 topics. Date: Thursday, 05 June 2025 at 02:02 AM 6z1e1

The Central Bank of Nigeria (CBN) has granted final approval to Ascensia Finance Company Limited to operate as a finance company in the country, according to an official letter dated April 10, 2025, seen by Nairametrics.

The apex bank conveyed the decision in a correspondence addressed to the Managing Director/CEO of Ascensia Finance Company, confirming that the licence was granted following a review of the firm’s application and associated documentation.

The letter, signed by Dr. Abubakar Shebe on behalf of the Director, Financial Policy and Regulation Department, stated that the approval is subject to compliance with the Central Bank of Nigeria Act, the Banks and Other Financial Institutions Act (BOFIA) 2020, and other applicable regulations.

“Failure to abide by these laws and regulations may be grounds for revocation of your licence,” the CBN warned in the letter.

The regulator also stressed the need for due diligence, noting that any adverse report on the company’s board or management could lead to the invalidation of appointments or revocation of the authorisation.

Ascensia confirms licence approval
In a statement sent to Nairametrics on Tuesday confirming receipt of the approval, Managing Director of Ascensia Finance Company, Jude Chuka Ezeamii, said the firm aims to offer sustainable financing solutions tailored to the needs of SMEs, local corporates, and professionals in both the public and private sectors.

Ezeamii, who has extensive experience in retail and commercial banking, noted that the company plans to leverage technology to scale its services across Abuja’s area councils and expand into major Nigerian cities within its first two years of operations.

Chairman of the company, Nelson Omanibe, also expressed confidence in the company’s readiness, stating that Ascensia’s product offerings will complement government efforts to small businesses. He referenced the President Bola Tinubu istration’s economic plans, which include nano-business grants and targeted credit facilities aimed at revitalising the SME sector.
With its licence approval secured, Ascensia Finance Company s a growing list of finance firms expected to help deepen credit access for underserved sectors of the economy.

https://nairametrics.com/2025/04/15/cbn-grants-final-approval-for-new-finance-firm-to-operate-in-nigeria/

Ok

AnonPoet:

https://nairametrics.com/2025/04/15/cbn-grants-final-approval-for-new-finance-firm-to-operate-in-nigeria/

however CBEX is busy scamming gullible Ibadan people

Let me quickly go borrow money from them

Toor

Yamleg:
Let me quickly go borrow money from them

Another loan?

You don clear all the debts you dey owe loan apps?

another CBex.. na BEBBEX e go be, e mari BEBEE wo

tiswell:
Until an IGBO is appointed cbn chief,naija dey play


Professor Charles soludo remains the best chn governor in naija.


Obj,really has a cracked team of professionals

oga comot from PLAY GROUND, u old for this kind TOYS.... WORDS

AnonPoet:

https://nairametrics.com/2025/04/15/cbn-grants-final-approval-for-new-finance-firm-to-operate-in-nigeria/

how is this impacting on the financial mess the country in enmeshed in locally

Until an IGBO is appointed cbn chief,naija dey play


Professor Charles soludo remains the best chn governor in naija.


Obj,really has a cracked team of professionals

CBEX PROMAX

this is great initiative

Yamleg:
Let me quickly go borrow money from them

99% of these things is to use to use it laund money... It does work in Nigeria

Yamleg:
Let me quickly go borrow money from them

Lol when CBex go get license so they can resume from where they stopped...

Good

time to check them out

Corrupt Cardoso doing anyhow with CBN

"ASCENSIA" I hope it won't be a channel for money laundering

Everybody just dey enter Nigeria and focused on Fintech.

MMM and CBEX promax

Dem Dey give loan ? Asking for my Oga

AnonPoet:

https://nairametrics.com/2025/04/15/cbn-grants-final-approval-for-new-finance-firm-to-operate-in-nigeria/

Is it another CBEX Ponzi scheme scam

Best than Sanusi Lamido??

tiswell:
Until an IGBO is appointed cbn chief,naija dey play


Professor Charles soludo remains the best chn governor in naija.


Obj,really has a cracked team of professionals

I hope there loan interest go small oo. No be all this one wey dey cut out head with Cutlass

crossbreedwears:
Best than Sanusi Lamido??

Sanusi was partisan and played a biral role from the inside to oust GEJ,making way for APC takeover.

Yamleg:
Let me quickly go borrow money from them

I am following you bumper to bumper, and I don't intend to pay back

tiswell:
Until an IGBO is appointed cbn chief,naija dey play


Professor Charles soludo remains the best chn governor in naija.


Obj,really has a cracked team of professionals

Tell your father to educate you about Paul Ogwuma, a former CBN Governor.

Until then......

Thomthom:
I hope there loan interest go small oo. No be all this one wey dey cut out head with Cutlass

CBN capped interest rate to all banks and financial institutions is 27.5%, banks and financial institutions will then add their own, so expect anything between 28% to 30% interest rate per annum

No tribal slur now as it relates to the promoters of the new company.

If the promoters were to be of another tribes, the bastards with certificate on this forum would have been crying by now.

#fact.

Can you share the source of this news?

tiswell:
Sanusi was partisan and played a biral role from the inside to oust GEJ,making way for APC takeover.