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NOLT Finance secures operating license from CBN – THISDAYLIVE

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NOLT Finance secures operating license from CBN NOLT Finance, a disruptor in the social impact banking space, has secured operating license from the Central Bank of Nigeria to provide financial serv

NOLT Finance, a disruptor in the social impact banking space, has secured operating license from the Central Bank of Nigeria to provide financial services in the Nigerian market.

On NOLT Finance services, Dada explained that the company offers working capital loan, asset finance and salary earners loan. He said: “There are two arms to our business: the investment and the lending arm as stipulated by CBN regulations. Our lending to SMEs is from 100,000 to a maximum of N20m. On the personal side, it’s from 100,000 to N5m.

“When I was on the investment side of finance, I noticed that people tended to need financing mostly. They approached me, but what I offered was investments. So we discovered there was a massive opportunity gap that was not adequately serviced. We also noticed the advancement of technology which makes the business better.

 

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