CreditPro Finance Company Limited has secured approval from the Central Bank of Nigeria to operate as a licensed finance company, a move that positions it to expand lending to small and medium-sized enterprises nationwide.

The licence, announced at the company’s unveiling ceremony in Lagos over the weekend, marks a turning point for the six-year-old lender, which began operations in 2019 under a Lagos State money lender licence.

According to a statement on Sunday, CreditPro has disbursed more than N20bn in loans to over 2,500 SMEs since its inception. With the new approval, the company said it plans to strengthen its capital base, deepen access to credit for entrepreneurs, and scale operations beyond Lagos into sub-Saharan Africa.

“Founded in 2019 with a modest equity base, the finance company has disbursed more than N20bn in loans to more than 2,500 SMEs. CreditPro began operations under a Lagos State money lender licence. Despite its humble beginning, the company quickly distinguished itself with a governance-first approach,” the statement partly read.

Chairman of the Board of Directors, Edwin Idegwu, said the company’s governance-first approach gave it an edge in securing the CBN licence. He added that CreditPro would continue to prioritise stability, innovation, and impact in SME financing.

A board member, Samson Akinyosoye, described the CBN licence as a seal of credibility and a platform for wider impact, stressing CreditPro is now positioned to fuel Nigeria’s economic transformation through job creation and SME empowerment.

“Today, we mark a pivotal transformation, which is the evolution of CreditPRO from its roots as CreditPRO Business Support Services Limited, a dedicated micro lender established in 2019 to bridge the funding gap of micro, small, and medium enterprises, into a much bigger, much larger, much more agile, proactive, and dynamic CreditPRO Finance Company Limited. This is not just about regulatory compliance. It is about expanding financial access, empowering entrepreneurs, and fuelling Nigeria’s economic transformation. CreditPro is ready to lead that charge.”