Accion MF&B Disburses N350 bn to 500,000 Customers Over 20 Years

Sunday Ehigiator

Accion Microfinance Bank announced that it has disbursed more than N350 billion in loans to over 500,000 customers in the past two decades, while maintaining a repayment rate above 99 percent.

The figures were revealed at the bank’s 20th‑anniversary press conference in Lagos, where board members and executive management highlighted the institution’s role in promoting financial inclusion, supporting SME growth, practicing responsible lending, and driving digital banking innovation in Nigeria.

Managing Director and Chief Executive Officer Taiwo Joda described the bank as a pioneer in providing finance to underserved entrepreneurs. “In 20 years, we have impacted 500,000 customers and disbursed over N350 billion. We are a pioneering microfinance bank looking at the bottom of the pyramid, granting access to capital for micro, small and medium enterprises,” he said.

Joda explained that the bank serves both underbanked entrepreneurs and those without formal banking relationships, emphasizing that access to capital remains central to its operations.

Board Chairman Christian Ruehmer said the bank was founded 20 years ago to bridge the financial inclusion gap affecting millions of hardworking Nigerians. “We saw many hardworking Nigerians who had dreams to improve their lives but were not bankable. This was exactly the reason why Accion Microfinance Bank started,” he stated. Ruehmer added that, despite technological advancements, human interaction remains critical in banking operations. “In banking, we differentiate between unwillingness and inability to pay. If somebody comes back with inability to pay, we are here for them and we help them. That is not technology primarily, but human presence,” he said.

Chief Risk and Compliance Officer Kazeem Bisiriyu noted that the bank has adopted robust risk‑management systems and customer‑engagement strategies to reduce loan defaults. “We maintain high‑level relationship management. We don’t just give customers money; we engage them, monitor usage and ensure funds are used for the intended purpose,” he said.

Chief Commercial Officer Stephen Olalere said the bank’s lending strategy focuses heavily on business financing rather than personal consumption. “Businesses are catalysts for economic growth. We don’t just give loans; we educate customers, analyse their businesses, and ensure they borrow within their repayment capacity,” he said.