Alert Microfinance Bank assets reach N50bn amid rising credit demand in Nigeria

Alert Microfinance Bank (Alert MFB) has increased its total assets to roughly N50 billion, a near‑20‑fold rise from about N2.5 billion three years earlier. Its parent, Alert Group, now holds about N120 billion in assets following the award of a national micro‑finance banking licence by the Central Bank of Nigeria.

Group CEO Olanrewaju Kazeem said the growth reflects a deliberate long‑term strategy to improve financial inclusion for Nigeria’s under‑banked and un‑banked populations, with plans to eventually expand regionally. The expansion comes despite severe macro‑economic headwinds, including high inflation, a 26.5 % monetary policy rate and rising operating costs. The bank also faces a talent shortage, noting that attracting skilled personnel remains a major challenge.

The rapid asset growth highlights growing credit demand in Nigeria’s inflation‑driven environment while underscoring the sector’s broader challenges.