Alert Group Secures CBN National Microfinance Licence

Alert Group said its subsidiary, Alert Microfinance Bank has secured a national microfinance banking licence from the Central Bank of Nigeria, upgrading from its Lagos State licence and clearing the path for nationwide operations.
CEO of Alert Group, Dr. Olanrewaju Kazeem stated this at a media chat session organised by the company.

Kazeem said the Bank is targeting N250 billion in total assets and N180 billion in loan disbursements by December 2026, following a strong first quarter that saw assets rise to N90 billion, deposits hit N70 billion, and loans expand to N64 billion.

He noted that the licence marks a major milestone in the institution’s growth journey, having previously operated under a Lagos State licence. “This is not just a licence, it is an opportunity to grow our business and enable our customers to grow across Nigeria,” Kazeem said.

He attributed the bank’s strong first quarter performance to a combination of skilled personnel, strong corporate governance, and a performance driven culture, stressing that the workforce remains its greatest asset.
The bank recorded significant growth in Q1 with total assets rising from N63 billion to N90 billion, deposits increased from N54 billion at year end to N70 billion, while the loan portfolio expanded to N64 billion. Shareholders’ funds climbed to N7.7 billion, and profit for the period amounted to N700 million.
He said the performance reflects rising public confidence in the institution, adding that a key driver of the bank’s expansion is its digital banking strategy, anchored on the newly launched Goldbucks savings and investment app, designed to promote financial inclusion and encourage asset creation.
Chief technology officer, Damilare Alabi, said the platform is built on bank-grade security architecture with multiple layers of authentication, real-time monitoring systems, and strict know your customer verification processes.
Alabi said investments on the platform are covered under NDIC protection, giving users additional assurance of safety.
Alert Group CEO further stated that with the new national licence, Alert Group plans to open at least 15 branches across the country, targeting all six geopolitical zones, saying the expansion will combine physical branches with digital platforms to ensure nationwide access.
He explained that while large business loans require physical assessment of customers operations, digital channels will handle savings, payments, and smaller loan transactions.
Speaking on the group’s renewable energy drive, the CEO of Green Bucks Limited, Hachem Bdeir highlighted the introduction of the Green Bucks Smart Solar System as a practical solution to Nigeria’s persistent power challenges.
He explained that the system is designed to provide reliable, clean, and affordable energy for households, small businesses, and industrial users, reducing dependence on generators and unstable grid supply while promoting sustainability.
Bdier noted that the smart solar solution is scalable, allowing users to adopt systems based on their energy needs, from basic household setups to larger commercial installations.
He added that the initiative aligns with the Group’s broader commitment to environmental responsibility and economic empowerment, as access to stable power is critical for productivity and business growth.
He further revealed that deployments are already underway in several states, with plans to expand nationwide as demand for renewable energy continues to rise.
Other executives present at the media session included the CEO of Alert MFB, Raji Saheed, CEO of Bucksfield, Yele Osunsanya and CEO of Autobucks, Adetoun Eyuro, all of whom reaffirmed the Group’s commitment to innovation, transparency, and inclusive growth.
Alert Group is a Nigerian diversified financial services holding company and leading MSME-focused institution.