Access Holdings Plc has obtained an approval-in-principle from the Central Bank of Nigeria (CBN) to establish a consumer lending subsidiary known as Oxygen X Finance Company Limited.
This was disclosed by the bank on the NGX website on Wednesday. The proposed subsidiary will make a positive impact on the financial landscape by providing innovative and seamless digital lending solutions to address distinct challenges faced by individual businesses in a rapidly evolving world.
Read also: Access Holdings acquires Megatech Insurance Brokers
According to Access Holdings, the proposed subsidiary will commence operation upon obtaining the final operating licence from the Central Bank. The bank said it will update the market on subsequent developments regarding the licencing process in due course.
Hope Moses-Ashike
Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks.
She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings.
Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.
