Digitvant Microfinance Bank has launched a financial literacy and credit access initiative, ‘Market Money,’ to empower traders in Balogun Market, Lagos.
It said this is part of efforts to expand financial inclusion to Nigerians who are often excluded from traditional banking services.
Speaking at the launch in Lagos on Wednesday, the bank’s head of Corporate Communications and Branding, Petra Akinti Onyegbule said, the flagship product, ‘Market Money,’ was designed to give traders a platform to save and access loans at reduced interest rates. According to her, access to credit with savings opportunities and financial literacy, will empower traders, strengthen small businesses and contribute to economic growth.
She noted that the initiative targets individuals overlooked by conventional banks, particularly traders in markets and rural communities, saying, ‘we are here for them, which is why we decided to take our services directly to where they are.’
Onyegbule emphasised that the bank’s approach goes beyond lending, insisting that financial education is central to its strategy. “Empowerment is not just giving people fish; it’s teaching them to use that fish, add value to it, and make more profit from it. That is why we focus on helping our customers learn the discipline of saving and understand the value chain,” she explained.
She added that inclusion remains a guiding principle for the institution. “Not everybody has access to technology, and we recognise that. This is why we combine both traditional and digital methods to ensure nobody is left behind,” she said.
“We are for everybody—those who have money and are just starting. Our mission is to ensure that all Nigerians have access to financial services that can help them improve their businesses and livelihoods,” she said.
For his part, Samuel Aladekoye, head of Business Development at Digivant MFB, said the bank’s range of products and services has been deliberately designed to meet the needs of different customer categories.
These include loan, savings, investment, and agency banking products. He explained that loan packages, offered at competitive rates, provide working capital for small businesses, while specialised products such as Loan-Linked Investment, Student Pay, and Salary Loans cater to investors, students, and salary earners.
Aladekoye noted that the savings options also offer attractive interest rates. At the same time, its agency banking network, supported by deployed POS terminals, ensures that services reach customers in different parts of the country. He noted that, Digitvant chose Balogun Market for its mass marketing drive because of its size, population and economic significance.
