CreditPRO Finance bags CBN Licence, targets SME growth 

By Mariam Eko

CreditPRO Finance Company Limited has officially joined the league of Central Bank of Nigeria (CBN)-licensed financial institutions, following its official launch in Lagos last weekend. 

The firm, which began operations in 2019 under a Lagos State lending licence, said the new milestone would scale its operations nationwide and deepen its role in supporting small and medium-sized enterprises (SMEs).

Speaking at the launch, the Chairman of CreditPRO, Dr. Edwin Idegwu, said: “the CBN license is a major milestone as it has elevated the trust with which investors who now know that their capital is under the strictest financial oversight with our partners, particularly banks and our institutional funders now see us as a credible financial institution. 

“When we started, we were not required to have a board under the Lagos State lending licence. But we deliberately set up a Board of Directors because we wanted to build CreditPRO above minimum standards. That decision gave us stronger governance, risk management, and credibility. Today, it has paid off.”

According to him, the board has remained committed in ensuring stability, innovation and impact.”

The Managing Director, Mr. Sola Adeyiga, recalled the company’s humble beginnings saying, “We started from an underground apartment in Omole Phase 1 with a modest equity of ¦ 3 million and ¦ 17 million in borrowed capital. Today, we have disbursed over ¦ 20 billion in loans to more than 2,500 SMEs, and grown our portfolio to ¦ 1.5 billion.”

He explained that the company’s approach to lending was different because it focused on tailoring solutions to the specific needs of entrepreneurs rather than simply pushing credit.

He said the CBN licence was the result of a 15-month process and would serve as a springboard for expansion across Nigeria and, eventually, sub-Saharan Africa. 

He stated: “We also want to deploy seamless AI-powered digital lending solutions, strengthen partnerships with investors and regulators, and expand its footprint beyond Lagos.

“Our vision is clear — to be Nigeria’s most trusted financial partner for SMEs.”

He added, “The story of CreditPRO is still being written, and the next chapter will be bigger and better.”

With the new CBN licence, the company said it was committed to building “an institution, not just a lender but to make lasting impact on Nigeria’s SME ecosystem.

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