Alert Grows Assets by Over 100% from N10.3bn to N22bn

Alert Group assets grew by over 100 per cent from N10.3 billion in 2023 to N22 billion in 2024, CEO/President of the company, Olanrewaju Kazeem has said.

Speaking during a media briefing held at the bank’s headquarters in Lagos, he said its  deposits also saw a 59 per cent surge, while loans grew by 109 per cent, consolidating a period of strong financial performance.

He said loans worth N40 billion were granted to businesses across different sectors of the economy to support business and economic growth.

Kazeem said the company will be expanding further this year, unveiling new subsidiaries and lending N72 billion to business in support of Nigeria’s economic growth.

“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 the Nigeria’s economic development,” he said.

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

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, he called for modern tax policies that encourage production and reduce multiple taxation, saying 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, emphasising the bank’s commitment to providing accessible financial services to underserved communities.

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.