Alert Group Disburses N40b Loans to Businesses in 12 Months

Alert Group granted loans worth N40 billion to businesses across its 16 branches in different states of the federation in 2024, according to Alert Group President, Olanrewaju Kazeem.

During a media briefing at the bank’s headquarters in Lagos, Kazeem announced that Alert Group will be expanding further this year, unveiling new subsidiaries and lending N72 billion to businesses to support Nigeria’s economic growth.

He highlighted the group’s strategy to impact multiple sectors and meet the growing needs of Nigerians.

“Our mission is to empower Nigerians through accessible financial services,” Dr. Kazeem said. “In 2025, we aim to launch several subsidiaries and achieve N72 billion in loan disbursements to support businesses, create jobs, and contribute to Nigeria’s economic development.”

He added that the group’s expansion will focus on digital solutions, sustainability, auto financing, and microfinance.

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Kazeem highlighted the bank’s growth trajectory, with total assets rising from N10.3 billion in 2023 to over N22 billion in 2024. The bank’s deposits also saw a 59% surge, while loans grew by 109%, marking a period of strong financial performance.

In addition to its financial success, the bank has made strides in digital transformation, improving its services for both customers and MSMEs. The microfinance bank has also remained committed to its corporate social responsibility initiatives, which include providing eyeglasses to those in need and supporting teachers and local football teams.

Speaking on the ongoing tax reforms, Kazeem called for modern tax policies that encourage production and reduce multiple taxation, stating that the current system hinders business growth and economic development.

The bank’s continued focus on digital transformation, MSME support, and social initiatives is expected to drive further growth and solidify its role in the financial ecosystem.

Also speaking at the event, the Chief Executive Officer of Alert Microfinance Bank, Raji Saheed, reiterated the bank’s commitment to boosting financial inclusion and taking financial services closer to the people.

“We expect the N72 billion loan disbursement target to significantly support small businesses and individuals across urban and rural areas,” Saheed said, emphasizing the bank’s commitment to providing accessible financial services to underserved communities.

The CEO of Green Bucks Limited, Hachem Bdeir, discussed the company’s focus on financing projects that promote environmental sustainability.

“Green Bucks is committed to funding businesses that align with global trends toward sustainability,” he stated.

He added that the company aims to combine environmental impact with economic benefits, supporting projects in renewable energy, agriculture, and waste management.

The CEO of Auto Bucks Lenders Limited, Olaoye Olasunkami, affirmed the company’s role in transforming the MSME sector. “Auto Bucks will offer affordable and flexible financing options to entrepreneurs in Nigeria,” he said. The company will expand physically and digitally in 2025 to provide more support to entrepreneurs.

The Chief Technology Officer at Alert Group, Adegoke Izekeo, discussed the group’s ongoing investment in digital technology, which she believes is essential to expanding the group’s reach and efficiency.

Izekeo revealed that the company is launching a new mobile application designed to simplify the delivery of financial services.

“Our new mobile platform will make it easier for customers to access financial services, including loan applications, bill payments, and account management, all from the convenience of their smartphones,” Izekeo explained.

She added that the app is expected to revolutionize how the group engages with its customers, allowing users to seamlessly interact with services without the constraints of physical locations.

Izekeo stressed that the platform is not just a tool for digital banking but a key part of the group’s strategy to provide financial inclusion for Nigerians in both urban and remote areas. “We believe that technology is a key driver of financial inclusion, and our app will play a pivotal role in reaching Nigerians who may otherwise have limited access to traditional banking services,” she said.