Ascensia Finance launches operations in Abuja, targets underserved markets

Ascensia Finance Company, a newly licensed financial institution, has officially launched operations in Abuja, aiming to carve a niche in Nigeria’s competitive lending and investment market by focusing on underserved individuals and small businesses.

Licensed by the Central Bank of Nigeria (CBN) in April, Ascensia has opened its flagship office at Samfa Mall in Wuse Zone 5, offering a suite of financial products tailored to self-employed professionals, SMEs, traders, and salaried workers.

Speaking at the company’s launch in Abuja, Jude Chuka Ezeamii, managing director, described Ascensia as a customer-first institution built to “empower individuals and small businesses to thrive. At Ascensia, we are committed to the growth of our clients by delivering inclusive, customer-centric financial services.”

The firm enters Nigeria’s financial services sector with a full suite of offerings, including personal loans, SME financing, investment products, and digital payment solutions.

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Among its flagship products is Ascensia PayEasy, a “Buy Now, Pay Later” option that enables customers to acquire consumer goods or assets with a 30% deposit and repay the balance over six months.

For the self-employed, Ascensia is offering personal loans of up to ₦5 million with a 12-month repayment tenor, while SME operators can access up to ₦10 million in financing, particularly targeted at retailers in fast-moving consumer goods. Salaried workers in both public and private sectors are eligible for PayDay Loans of up to ₦5 million, repayable within a year.

The company is also tapping into Nigeria’s informal and contract-driven economy. Its contract finance product offers invoice discounting to vendors and contractors working with credible corporate and public entities, improving liquidity and ensuring timely execution of supply orders.

Additionally, group loans are available to traders, artisans, and farmers, structured around community-based guarantees that bypass traditional collateral requirements. Qualified borrowers can access up to ₦3 million, repayable within 180 days.

On the investment side, Ascensia has launched two products: Ascensia Rise and Ascensia Lock. The former provides flexible access to funds while still offering competitive returns, with a minimum entry of ₦50,000 and up to four penalty-free withdrawals per month. Ascensia Lock, in contrast, is a fixed-term savings product that targets longer-term investors with interest-bearing deposits starting at ₦500,000 and tenors ranging from 30 to 365 days.

Backed by affiliations with the Finance House Association of Nigeria (FHAN), Nigeria Interbank Settlement System Plc (NIBSS), and Remita, Ascensia is leaning on established digital infrastructure to offer secure and efficient financial services.

Its leadership team comprises experienced professionals with deep roots in Nigeria’s banking and finance sector.

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According to Ezeamii, the company’s operations are guided by core values summarised in the acronym TRICE: Trust, Resilience, Integrity, Creativity, and Empathy.

“As Nigeria’s economic landscape continues to challenge traditional banking models, particularly for small businesses and informal sector players, Ascensia’s entry signals a growing trend toward nimble, tech-enabled finance companies aiming to fill credit and investment gaps left by larger institutions,” he told BusinessDay.