Central Bank of Nigeria Grants Final Approval For New Finance Firm To Operate In Nigeria

byWilfrey Morena -
0
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 Alexa News Nigeria. 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 members 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 support small businesses.

 He referenced the President Bola Tinubu administration’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 joins a growing list of finance firms expected to help deepen credit access for underserved sectors of the economy.
Tags

You may like these posts

Thank you for reaching out to us. We are happy to receive your opinion and request. If you need advert or sponsored post, We’re excited you’re considering advertising or sponsoring a post on our blog. Your support is what keeps us going. With the current trend, it’s very obvious content marketing is the way to go. Banner advertising and trying to get customers through Google Adwords may get you customers but it has been proven beyond doubt that Content Marketing has more lasting benefits.
We offer majorly two types of advertising:
1. Sponsored Posts: If you are really interested in publishing a sponsored post or a press release, video content, advertorial or any other kind of sponsored post, then you are at the right place.
WHAT KIND OF SPONSORED POSTS DO WE ACCEPT?
Generally, a sponsored post can be any of the following:
Press release
Advertorial
Video content
Article
Interview
This kind of post is usually written to promote you or your business. However, we do prefer posts that naturally flow with the site’s general content. This means we can also promote artists, songs, cosmetic products and things that you love of all products or services.
DURATION & BONUSES
Every sponsored article will remain live on the site as long as this website exists. The duration is indefinite! Again, we will share your post on our social media channels and our email subscribers too will get to read your article. You’re exposing your article to our: Twitter followers, Facebook fans and other social networks.

We will also try as much as possible to optimize your post for search engines as well.

Submission of Materials : Sponsored post should be well written in English language and all materials must be delivered via electronic medium. All sponsored posts must be delivered via electronic version, either on disk or e-mail on Microsoft Word unless otherwise noted.
PRICING
The price largely depends on if you’re writing the content or we’re to do that. But if your are writing the content, it is $100 per article.

2. Banner Advertising: We also offer banner advertising in various sizes and of course, our prices are flexible. you may choose to for the weekly rate or simply buy your desired number of impressions.

Technical Details And Pricing
Banner Size 300 X 250 pixels : Appears on the home page and below all pages on the site.
Banner Size 728 X 90 pixels: Appears on the top right Corner of the homepage and all pages on the site.
Large rectangle Banner Size (336x280) : Appears on the home page and below all pages on the site.
Small square (200x200) : Appears on the right side of the home page and all pages on the site.
Half page (300x600) : Appears on the right side of the home page and all pages on the site.
Portrait (300x1050) : Appears on the right side of the home page and all pages on the site.
Billboard (970x250) : Appears on the home page.

Submission of Materials : Banner ads can be in jpeg, jpg and gif format. All materials must be deliverd via electronic medium. All ads must be delivered via electronic version, either on disk or e-mail in the ordered pixel dimensions unless otherwise noted.
For advertising offers, send an email with your name,company, website, country and advert or sponsored post you want to appear on our website to advert @ alexa. ng

Normally, we should respond within 48 hours.

Previous Post Next Post

News

                     Copyright Notice

All rights reserved. This material, and other digital contents on this website, may not be reproduced, published, rewritten or redistributed in whole or in part without prior express written permission from Alexa News Nigeria (Alexa.ng). 

نموذج الاتصال