Alert Group has secured a national microfinance banking licence for its subsidiary, Alert Microfinance Bank (MfB), to widen its operations and strengthen financial inclusion across Nigeria.
Olanrewaju Kazeem, group chief executive officer, Alert Group, disclosed this to journalists at a media parley in Lagos, where he outlined the group’s performance, strategy, and growth plans.
Kazeem added that the bank is targeting N250 billion in total assets and N180 billion in loan disbursements by December 2026, following a strong first quarter performance where assets rose to N90 billion, deposits hit N70 billion, and loans expanded to N64 billion.
Speaking on the new national licence, the GCEO said, “This is not just a licence, it is an opportunity to grow our business and enable our customers to grow across Nigeria.”
Kazeem confirmed that the Central Bank of Nigeria approved the national licence, upgrading the bank’s status from a state-level operator to a nationwide institution following an increase in shareholders’ funds to over N5 billion.
He said the license will enable the bank to expand its footprint, open new branches across the country, and serve a wider customer base, particularly micro, small and medium enterprises.
According to him, the bank plans to establish at least 15 additional branches across the six geopolitical zones before the end of 2026 as part of its expansion plan expected to boost access to financial services, stimulate local economies, and create employment opportunities.
Meanwhile, the group also reported strong first-quarter performance, with total assets rising from N63 billion to N90 billion, while its gross loan portfolio grew from N50 billion to N64 billion.
The GCEO attributed the bank’s strong first-quarter performance to a combination of skilled personnel, strong corporate governance, and a performance-driven culture, stressing that the workforce remains its greatest asset.
Kazeem added that the performance reflects rising public confidence in the institution.
The group also announced the launch of its savings and investment app, Goldbucks, aimed at encouraging savings and providing accessible investment options.
Damilare Alabi, chief technology officer, Alert Group disclosed that the platform is equipped with advanced security features and has been tested to handle high user volumes while safeguarding against cyber threats.
The group said it is targeting at least 500,000 users across its digital platforms before year-end, with additional apps focused on payments and lending expected to be introduced.
According to Alabi, the application is supported by regulatory safeguards to ensure user confidence and investment security.
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