Sunday Ehigiator
The management of Accion Microfinance Bank has said it has disbursed over N350 billion in loans to more than 500,000 customers over the last 20 years, while maintaining a repayment rate of over 99 per cent.
The bank disclosed this during its 20th anniversary press conference held yesterday in Lagos, where members of the board and executive management highlighted the institution’s contributions to financial inclusion, SME growth, responsible lending, and digital banking innovation in Nigeria.
Speaking at the event, the Managing Director/Chief Executive Officer, Taiwo Joda, described the bank as a pioneer in providing access to finance for underserved entrepreneurs.
According to him, “In 20 years, we have impacted 500,000 customers and disbursed over N350 billion. We are a pioneering microfinance bank looking at the bottom of the pyramid, granting access to capital for micro, small and medium enterprises.”
He explained that the bank supports both underbanked entrepreneurs and those without formal banking relationships, stressing that access to capital has remained central to the bank’s operations.
The Board Chairman, Christian Ruehmer, said the bank was established 20 years ago to bridge the financial inclusion gap affecting millions of hardworking Nigerians.
“We saw many hardworking Nigerians who had dreams to improve their lives but were not bankable. This was exactly the reason why Accion Microfinance Bank started,” he stated.
Ruehmer added that despite technological advancements, human interaction remained critical in banking operations.
“In banking, we differentiate between unwillingness and inability to pay. If somebody comes back with inability to pay, we are here for them and we help them. That is not technology primarily, but human presence,” he said.
Also speaking, the Chief Risk and Compliance Officer, Kazeem Bisiriyu, said the bank had adopted robust risk management systems and customer engagement strategies to reduce loan defaults.
“We maintain high-level relationship management. We don’t just give customers money; we engage them, monitor usage and ensure funds are used for the intended purpose,” he said.
The Chief Commercial Officer, Stephen Olalere, said the bank’s lending strategy focused heavily on business financing rather than personal consumption.
“Businesses are catalysts for economic growth. We don’t just give loans; we educate customers, analyse their businesses, and ensure they borrow within their repayment capacity,” he said.