From Survival to Stability: How PecanTrust’s Ajo-Inspired Savings Culture Is Transforming How Nigerians Save and Borrow

Fadekemi Ajakaiye

In a significant stride towards financial inclusion, PecanTrust Microfinance Bank’s Pecan Ajo Savings (PAS) has emerged as a game-changer in the Nigerian financial landscape. This innovative product is not only revolutionizing the way Nigerians save and access credit but also driving compliance with regulatory requirements.

The Central Bank of Nigeria (CBN) has been actively promoting financial inclusion strategies resulting in the growth of the informal savings markets. PecanTrust’s PAS is designed both to promote and comply with these regulations by providing a secure and regulated platform for Nigerians to save and access credit.

For decades, Africans have relied on the informal Ajo system, where communities save small amounts regularly, providing access to sizable funding when needed. PecanTrust’s PAS brings the trusted communal system into the formal banking sector, blending cultural familiarity with institutional reliability.

The product’s consistent, small-value deposits have resonated deeply with Nigerians’ financial behaviours, empowering individuals, including traders, artisans, and small-scale entrepreneurs, to build savings and borrow with dignity and flexibility. This product offers a secure, regulated alternative to informal Ajo groups, reducing risk and increasing transparency.

With over N30 billion in savings mobilized over time, PecanTrust’s hybrid microfinance model is creating real pathways for customers to move from survival to stability. By bridging tradition and innovation, the bank is helping Nigerians save more consciously, borrow with purpose, and build a foundation for long-term financial resilience.

PecanTrust’s PAS is part of a broader ecosystem. This includes the Pecan Plus product; a digital-enabled solution that creates simple and affordable healthcare access to its customers. The integrated approach sets PecanTrust apart, providing a comprehensive suite of financial services that cater to the diverse needs of Nigerians.

PecanTrust’s Ajo-inspired savings culture addresses key challenges facing informal Ajo groups, including security, scalability, transparency, and accessibility. The Bank’s regulated and secure platforms provide a reliable space for savings and other transaction management.
“PecanTrust’s PAS is a testament to the power of innovation and collaboration in driving financial inclusion,” said an executive member of the Microfinance Association. “We commend PecanTrust for being a frontliner in leveraging savings technology to provide affordable and accessible financial services to Nigerians.”

As Nigeria’s financial landscape continues to evolve, PecanTrust’s Ajo-inspired savings culture is poised to revolutionize the way Nigerians approach financial planning, providing a beacon of hope for a more stable and prosperous future.