Ascensia Finance Marks First Anniversary with N1.2bn Credit Disbursement to Businesses

Abuja – Ascensia Finance is celebrating its first anniversary by announcing the disbursement of over N1.2 billion in loans to more than 300 customers. The company commenced operations in July 2025, building on a foundation approved by the Central Bank of Nigeria in April of the same year.

Managing Director Jude Chuka Ezeamii highlighted that the past year focused on establishing a robust digital and institutional framework for responsible lending and financial inclusion. Ascensia Finance provides tailored financial solutions through technology-driven channels, catering to individuals, SMEs, merchants, and contractors. Their disbursements span retail lending, SME financing, microcredit, and business support, addressing a growing demand for flexible financing options among underserved businesses.

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Its first year of operations had been devoted to building a strong digital and institutional foundation to support responsible lending and financial inclusion.

Key milestones for Ascensia Finance include the launch of the Ascensia App, the Ascensia Verve Card, and integrations with major payment systems like NIBSS, Remita, Paystack, and Interswitch. These investments aim to streamline transactions and enhance customer experience. The company has also strengthened its operational framework through partnerships with core banking application provider BankOne, the Finance Houses Association of Nigeria (FHAN), and credit bureaus.

Despite these successes, Ezeamii acknowledged the difficult operating environment characterized by high inflation, escalating transportation and energy costs, and declining consumer purchasing power. Delayed payments to government contractors, a significant factor in Abuja's economy, also create liquidity pressures. To navigate these challenges, Ascensia Finance has enhanced its credit appraisal process, prioritizing cash-flow-based lending and employing structured repayment arrangements, recurring deductions, and direct debits over traditional collateral.

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Abuja’s economy remained heavily dependent on government spending, making delayed settlement of contractors’ invoices a significant source of liquidity pressure for many businesses.