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Alert Microfinance Bank, a deposit-taking institution licensed by the Central Bank of Nigeria (CBN), has announced the receipt of a state licence approval from the banking regulator.
In a statement, the bank expressed its commitment to enhancing financial services and addressing the evolving needs of micro, small, and medium-sized enterprises (MSMEs). The announcement was made during a recent forum in Lagos, where Alert Microfinance Bank conveyed gratitude to customers and partners for their continued support.
The forum served as a platform for customer engagement, feedback collection, and the introduction of innovative banking solutions. During the event, Alert Microfinance Bank unveiled its cutting-edge ‘Alert Mobile App’ and introduced the innovative ‘Kolo Ajo Savings Product,’ marking a transformative moment for its expanding customer base.
The ‘Alert Mobile App,’ now available on the Google Play Store, aims to redefine the banking experience by providing users with a seamless and user-friendly interface powered by advanced technology. The ‘Kolo Ajo Savings Product’ allows users to flexibly set aside funds, starting from as low as 1,000 naira daily, weekly, or monthly.
Having obtained its financial institution licence from the apex bank in 2014, Alert Microfinance Bank has been offering a comprehensive range of financial services, including savings, current, and fixed deposit accounts. The newly acquired state licence further empowers the bank to broaden its commitment to serving micro, small, and medium-sized enterprises and the wider public.
Highlighting another milestone, Dr. Olanrewaju Kazeem, the Group Chief Executive Officer of Alert Group, stated at the forum that Alert MFB’s shareholders’ funds had exceeded N1.5 billion, and its balance sheet currently stands at more than N11 billion. Kazeem emphasized the organization’s dedication to ensuring secure access and efficient fund management for seamless transactions, leading to the introduction of these two unique products.
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