James Emejo in Abuja
Managing Director/Chief Executive Officer, Mr. Jude Chuka Ezeamii, said the company has disbursed over N1.2 billion in loans to more than 300 customers barely one year after commencing operations.
The milestone underscores its growing role in expanding access to finance for small businesses, salary earners and entrepreneurs despite challenging economic environment.
The commenced operations from Abuja in July 2025 after the Central Bank of Nigeria (CBN) approved its licence earlier in April.
Ezeamii said its first year of operations had been devoted to building a strong digital and institutional foundation to support responsible lending and financial inclusion.
According to him, the lender had focused on providing tailored financial solutions to individuals, SMEs, merchants, contractors and other businesses through accessible and technology-driven channels.
He said the disbursements cuts across retail lending, SME financing, microcredit and business support, reflecting increasing demand for flexible financing by underserved businesses.
Beyond lending, Ascensia has invested heavily in digital infrastructure to improve customer experience and transaction efficiency.
Its major milestones include the rollout of the Ascensia App, the Ascensia Verve Card, integration with the Nigeria Inter-Bank Settlement System (NIBSS) and payment platforms such as Remita STP, BudPay, Paystack, eTranzact and Interswitch Bills Payment.
The company said the investments were designed to make payments, collections and access to financial services faster and more convenient for customers.
It also strengthened its operational framework through partnerships with BankOne as its core banking application provider, membership of the Finance Houses Association of Nigeria (FHAN), collaboration with credit bureaus and other financial ecosystem players to improve governance, credit assessment, risk management and operational efficiency.
Despite the milestone, the company acknowledged that operating conditions remain difficult.
The MD identified inflation, rising transportation and energy costs, weakening consumer purchasing power, collateral limitations and prolonged delays in payments to government contractors as major constraints affecting businesses and credit expansion.
According to him, Abuja’s economy remained heavily dependent on government spending, making delayed settlement of contractors’ invoices a significant source of liquidity pressure for many businesses.
To mitigate these risks, he said the company had strengthened its credit appraisal process by placing greater emphasis on cash-flow-based lending, structured repayment arrangements, recurring POS deductions, Remita deductions and direct debit mechanisms rather than relying solely on traditional collateral.
The finance institution added that repayment performance had generally remained stronger where borrowers have clear and verifiable repayment sources, although it noted that salary-backed lending still faces challenges when borrowers circumvent established deduction channels.
It called for a more robust industry-wide repayment framework capable of automatically securing loan repayments once obligations fall due.
The company also disclosed that its microcredit programme is supporting women-owned enterprises across settlements in Abuja, particularly businesses engaged in food processing, petty trading and small-scale production through structured lending, close monitoring and gradual credit expansion.
Looking ahead, Ezeamii said Ascensia planned to deepen responsible lending, expand adoption of its digital platforms, improve loan processing time and leverage bureau-driven credit assessment to support more businesses.
He added that the finance company also intends to collaborate with institutions such as SMEDAN, the Bank of Agriculture (BOA) and the Bank of Industry (BOI) to broaden access to finance for micro, small and medium enterprises as well as youth-led businesses.
According to him, the company’s next growth phase will focus on scaling impact while aligning with ongoing financial sector reforms aimed at promoting responsible lending, transparency, financial stability and consumer confidence.
He said, “Our first year was about laying a solid foundation. The next phase is about execution, scale and delivering greater impact to businesses and individuals seeking sustainable access to finance.”