CreditPRO Secures CBN Licence, Eyes SME Expansion

CreditPRO Finance has secured a Central Bank of Nigeria (CBN) licence, marking a turning point in its journey from a Lagos-based lender to a nationwide player in SME financing.

The company, which began in 2019 under a Lagos State lending licence, said the recognition would strengthen its credibility and fuel growth across Nigeria. The official launch took place in Lagos last weekend.

A Milestone for SME-focused Lending

Speaking at the event, CreditPRO Chairman, Dr Edwin Idegwu, called the approval a validation of years of work. “The CBN licence 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… Today, it has paid off,” he said.

Idegwu explained that the company set up a board of directors even before it was legally required, a decision he described as crucial for building credibility and stronger governance.

The company’s Managing Director, Sola Adeyiga, recalled its modest start. “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 said.

Digital plans and regional growth

Adeyiga added that CreditPRO Finance’s lending model focuses on tailored solutions, not one-size-fits-all credit. The CBN approval, he noted, was the result of a 15-month process and will serve as a springboard for expansion.

“We also want to deploy seamless AI-powered digital lending solutions, strengthen partnerships with investors and regulators, and expand beyond Lagos. Our vision is clear — to be Nigeria’s most trusted financial partner for SMEs,” he said.

According to the company, the long-term plan includes scaling operations into sub-Saharan Africa while continuing to support Nigeria’s small businesses.