CreditPRO Now Under CBN Regulation, To Assist SMEs

CreditPRO Finance Company Limited has launched as a fully licensed financial institution regulated by the Central Bank of Nigeria (CBN) and expresses its commitment to providing financial solutions to Small and Medium-sized Enterprises (SMEs) across the country.

Speaking at the launch event held in Lagos at the weekend, the chairman of the company, Dr. Edwin Idegwu said, “the journey to officially establishing CreditPRO Finance Company Limited as a licensed financial institution began years ago. From day one, we chose to form a board of directors, even before it was mandated. This proactive step reflects our commitment to not only meet but exceed regulatory standards in corporate governance while fostering integrity within our institution.”

Idegwu emphasised that, this decision has greatly enhanced operations, saying that “our board brings a wealth of diverse expertise, independent oversight, and strategic discipline, which has strengthened our risk management frameworks, adding that, this commitment to transparency has bolstered the confidence of its investors, partners, and clients, ensuring that, ‘we are building not just a business, but a sustainable institution.’

With the CBN license secured, he expressed optimism about the future, explaining that, “this achievement reinforces our credibility in the eyes of our investors, who can trust that their capital is safeguarded under stringent financial oversight. Our partners, particularly banks and institutional funders, now recognise us as a reputable financial entity, and clients can feel assured that they are engaging with a company committed to transparency and self-regulation.”

Idegwu stated that “we aim to deepen our impact, promote responsible growth, and create a lasting legacy.

We are focused on scaling our solutions, reaching more SMEs, and expanding our financial services throughout Nigeria and Africa.”

The founder and managing director of CreditPRO, Sola Adeyiga recounted the company’s beginnings, stating that, “between 2013 and 2014, we concentrated on training SMEs, which revealed a consistent need for funding among the participants. This prompted us to tackle the significant funding gap that SMEs face, recognizing that many banks were hesitant to lend to them.”

Founded in Lagos, Nigeria, in 2019, CreditPRO was established to address the pressing funding challenges faced by SMEs.