Alert Group secures national MFB licence, eyes N250bn assets

Alert Group, a leading micro and SME banking group in West Africa, has announced acquisition of a national microfinance banking licence for its subsidiary, Alert Microfinance Bank. The Group Chief Executive Officer, Dr Olarewaju Kazeem, disclosed this during a media chat held at the company’s headquarters in Lagos. He said the achievement was part of […]

Alert Group, a leading micro and SME banking group in West Africa, has announced acquisition of a national microfinance banking licence for its subsidiary, Alert Microfinance Bank.

The Group Chief Executive Officer, Dr Olarewaju Kazeem, disclosed this during a media chat held at the company’s headquarters in Lagos.

He said the achievement was part of the group’s expansion drive to deepen financial inclusion and scale operations across Nigeria.

Kazeem was joined by the CEO of Green Bucks Limited, Hachem Bdeir; CEO of Alert MFB, Raji Saheed; CEO of Bucksfield, Mrs Yele Osunsanya; CEO of Autobucks, Mrs Toun Eyuro; and Chief Technology Officer, Damilare Alabi.

The Group CEO stated that the Central Bank of Nigeria (CBN) had granted Alert Microfinance Bank a national operating licence, upgrading it from a state-level licence and clearing the path for nationwide operations.

“This is not just a licence; it is an opportunity to grow our business and enable our customers to grow across Nigeria,” he told journalists.

He explained that the licence requires the company to increase its shareholders’ funds to over N5 billion. It also removes previous geographic limitations, positioning the bank to expand its footprint nationwide.

According to Kazeem, the new status will enhance market penetration, enable the opening of new branches across the country, and allow the institution to serve a broader customer base, particularly micro, small, and medium enterprises.

He noted that the bank plans to establish at least 15 additional branches across the six geopolitical zones before the end of 2026. He added that the expansion would not only improve access to financial services but also stimulate economic activity and create employment opportunities in host communities.

Kazeem further stated that the national licence would increase the bank’s loan capacity, enabling it to offer larger credit facilities to customers.

He reaffirmed the group’s target to grow total assets to N250 billion by the end of 2026.

While acknowledging potential economic and political uncertainties, he maintained that the projections are realistic, supported by strong corporate governance, robust risk management, and growing customer confidence.

The group also announced the launch of its savings and investment application, Goldbucks, designed to promote a savings culture and enable users to build wealth through accessible financial products.

Kazeem described the platform as a convenient and secure solution that allows users to save and invest from anywhere in the world.

The Chief Technology Officer, Damilare Alabi, provided further insight into the platform, noting that the application was built with advanced security architecture and had undergone extensive testing to withstand high user activity and protect against cyber threats.

He added that the platform is backed by regulatory safeguards, giving users confidence in the safety of their investments.

The CEO of Alert MFB, Raji Saheed, reiterated the group’s commitment to innovation, transparency, and inclusive growth.

“Our N250bn projection is achievable, and we can surpass it,” Saheed said.