Teerus Microfinance Bank Limited has announced that it has officially received its operating licence from the Central Bank of Nigeria to commence microfinance banking operations in Nigeria.
In a statement on Monday, the lender revealed that the banking licence marked a significant milestone in its vision to provide accessible financial solutions to individuals, Small and Medium-sized Enterprises, and underserved communities across Nigeria.
Speaking on the development, the Managing Director and Chief Executive Officer of Teerus Microfinance Bank Limited, Mr Chukwuemeka Onwuedo, said, “This licence represents not just regulatory approval but a responsibility to deliver inclusive financial solutions that empower individuals, support small businesses, and promote economic growth. Teerus Microfinance Bank Limited is committed to building a trusted financial partnership that prioritises efficiency, transparency, and customer satisfaction.”
He added that the bank is positioned to offer a broad range of financial products and services, including savings and deposit accounts, micro and SME loans, working capital financing, Local Purchase Order financing, digital banking services and financial advisory services.
With a strong focus on innovation and operational excellence, the bank aims to leverage technology to simplify banking processes, enhance customer experience, and improve financial inclusion, particularly for micro-entrepreneurs and growing businesses.
The bank maintained that its operational framework is built on sound corporate governance, strict regulatory compliance, risk management discipline, and a customer-first philosophy.
Teerus Microfinance Bank Limited is set to roll out its services in phases, with digital channels forming a key part of its growth strategy.
“As Nigeria’s financial ecosystem continues to evolve, Teerus Microfinance Bank Limited is committed to partnering with businesses, communities, and stakeholders to create sustainable value and contribute meaningfully to national economic development,” the lender concluded.
