At the official launch on Wednesday, the firm unveiled two flagship offerings, Gold-for-cash and debt factoring, aimed at unlocking dormant capital and accelerating cash flow for contractors and entrepreneurs.
Speaking during the launch, Daniel Oniko, Group Managing Director of APICES Finance, noted that the firm’s strategy focuses on “wealth under the pillow,” referencing the significant amount of gold held by Nigerians that remains uncollateralised.
Beyond asset-backed lending, the firm is positioning itself as a liquidity provider for businesses hamstrung by delayed payments. Through its debt factoring framework, APICES plans to provide immediate funds to contractors and suppliers whose invoices are stuck in long payment cycles.
He said, “I just talked about the gold-for-cash facility. I don’t think any bank in Nigeria is doing that. And that is something we are bringing to the market; to uplift people who have the wealth that is tied in their pillow, that we can actually exploit that to make them trade and understand that they can trade with that even when they still own the value of gold. So we are coming back.
“We are also doing debt factoring. Debt factoring, of course, is a legal framework where funds are actually released for some contractors and other contractors and companies who are doing supplies and all that to various companies where their payment circle is being withheld and all that.
“We are ready to play on that field to release funds that boost the economy and create more wealth,” Oniko added, citing his 24 years of banking experience as the catalyst for creating a platform that prioritises operational efficiency over traditional banking hurdles.
Also speaking at the event, Evie Ukodiko, the Board Chairman, described the opening as the first step in a long-term plan to build a financial powerhouse that contributes to national economic growth and empowers stakeholders across sectors.
Ukodiko, who was represented by Moses Chukwu, Board Director at APICES Finance, highlighted APICES’ mission to support customers, partners, farmers, businesses, and youths, emphasising shared prosperity and wealth creation.
He explained the firm’s commitment to digitalisation, stating that all applications and processes are technology-driven to efficiently reach underserved communities.
He said,
“We have so many youths that have skills that can convert their skills into money. But because they lack opportunity and they lack access to finance, most of those dreams remain a mirage. And that is why we say, we are intentional and it is a partnership for prosperity. When we discover such youths who have skills, have talents, we will partner with them to bring that dream to reality and convert it into money.”
