CreditPro Finance Company Limited has obtained approval from the Central Bank of Nigeria (CBN) to operate as a licensed finance company, a milestone that strengthens its capacity to extend credit to small and medium-sized enterprises (SMEs) across the country.
The licence, announced during the company’s unveiling ceremony in Lagos over the weekend, represents a major shift for the six-year-old lender, which began operations in 2019 under a Lagos State money lender licence.
Since inception, CreditPro has disbursed more than ₦20 billion in loans to over 2,500 SMEs, focusing on bridging financing gaps for entrepreneurs. With the new CBN approval, the company said it plans to expand its operations beyond Lagos, bolster its capital base, and deepen financial inclusion for businesses nationwide.
Chairman of the Board of Directors, Edwin Idegwu, explained that the company’s governance-first model gave it an edge in securing the licence. He added that CreditPro would continue to prioritise stability, innovation, and impact in SME financing.
Board member Samson Akinyosoye described the CBN approval as both a “seal of credibility” and a platform for wider impact. According to him, the new licence positions CreditPro to play a stronger role in fuelling Nigeria’s economic transformation through job creation and SME empowerment.
He noted that the transition from a modest micro-lender into a licensed finance company reflects CreditPro’s growth trajectory and its commitment to expanding financial access. “This is not just about compliance. It is about empowering entrepreneurs and supporting Nigeria’s broader economic growth,” Akinyosoye said.
