Accion MFB marks 20 years of driving financial inclusion in Nigeria

Accion Microfinance Bank states that it has supported over 500,000 customers and disbursed more than N350 billion in loans in the last 20 years, highlighting its role in expanding financial inclusion and supporting small businesses across Nigeria.

The bank disclosed this during its 20th anniversary press conference held in Lagos on May 18, where members of the board and executive management reflected on the institution’s growth, digital banking expansion, and support for entrepreneurs.

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Taiwo Joda, managing director of Accion Microfinance Bank, said the institution was created to bridge the financing gap facing millions of Nigerians excluded from traditional banking services.

“In the last 20 years, we have impacted over 500,000 customers and disbursed more than ₦350bn,” Joda said.

“We provide access to capital for micro, small, and medium enterprises, especially businesses that commercial banks often consider too small or too risky.”

According to him, the bank supports both underbanked entrepreneurs with limited access to credit and business owners with no banking relationship at all.
Joda said the lender has continued supporting businesses despite inflation, foreign exchange volatility, and economic disruptions such as the COVID-19 pandemic.

“One of the best ways to manage inflation is to ensure businesses generate enough revenue and profit to survive economic pressure,” he said.

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Christian Ruehmer, the bank’s board chairman, stated that Accion was established at a time when many hardworking Nigerians were considered “unbankable,” despite having viable businesses and growth potential.

“That same commitment from 20 years ago still drives us today,” he said. “We continue helping women entrepreneurs and young entrepreneurs gain access to finance and opportunities.”

Executives at the bank said responsible lending and customer engagement remain central to their operations.

Kazeem Bisiriyu, chief risk officer, said the bank focuses heavily on understanding customers’ cash flow and repayment capacity before approving loans.

“We do not just give loans,” he said. “We educate customers, assess their business realities, and advise them on what is suitable for their stage of growth.”

According to him, the bank maintains repayment rates above 95 percent, with some loan cycles recording repayment levels as high as 99.5 percent.
Bisiriyu added that the bank works closely with customers facing repayment difficulties rather than adopting aggressive recovery measures.
“If someone genuinely cannot pay because of economic conditions, we engage them and work out practical solutions,” he said.

The bank also highlighted the growing role of technology in improving customer experience and operational efficiency.

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Ayodeji Mebude, group head of operations, said digital banking platforms have made services more accessible for customers across the country.

“Technology has improved service delivery, strengthened connectivity between customers and bankers, and helped us scale faster,” he said.

According to Mebude, customers can now access banking services, complete onboarding, and process transactions remotely through mobile and digital channels.

Despite increasing digital adoption, the bank said physical interaction remains important, particularly for customers in underserved communities.

Accion Microfinance Bank currently operates in 17 states and plans to expand further through a mix of digital banking, physical branches, and agency networks.

Ruehmer said the relevance of microfinance institutions remains as important today as it was two decades ago because millions of Nigerian entrepreneurs still lack adequate access to finance.

“There is still a huge financing gap in the MSME sector,” he said. “We are stronger than ever before and remain committed to supporting entrepreneurs across Nigeria.”