Ascensia sets up in Abuja, launches invoice discounting

On July 7, 2025, Ascensia Finance Company (Ascensia) officially launched its operations in Abuja, signaling a bold entry into Nigeria’s dynamic financial services landscape. Licensed by the Central Bank of Nigeria (CBN) just three months prior in April, the company is setting its sights on the vast and often neglected segment of self-employed professionals, traders, small businesses, and salaried workers who struggle to access formal financial services.

The company’s flagship office, strategically located in Samfa Mall, Wuse Zone 5, is the nerve center of what it hopes will be a customer-first revolution in Nigeria’s finance space. With a service model designed around accessibility and inclusion, Ascensia is offering a full suite of products ranging from personal and SME loans to investment vehicles and digital payment options.

At the launch event, Jude Chuka Ezeamii, Ascensia’s Managing Director, underscored the company’s mission to prioritise client empowerment. He emphasized that Ascensia was created with the intent to foster growth among individuals and businesses by delivering solutions that are not only accessible but also tailored to their specific needs. The institution, he noted, is rooted in the belief that inclusive financial services are essential for community and economic development.

One of Ascensia’s standout innovations is its PayEasy product, a “Buy Now, Pay Later” scheme that allows customers to make a 30 per cent down payment on consumer goods or business assets, and settle the remaining balance over six months. This offering is particularly suited to a market where liquidity constraints often hinder purchasing power.

For the self-employed, Ascensia is making available personal loans of up to NGN 5m (US$3,259), with a flexible 12-month repayment plan. Small and medium enterprises, particularly those operating in the fast-moving consumer goods space, can access up to NGN 10m (US$6,519) in SME financing. Salaried workers in both the public and private sectors are also catered to with PayDay Loans of up to NGN 5m (US$3,259), repayable within a year.

In a strategic move to tap into Nigeria’s vast informal and contract-based economy, Ascensia is introducing a contract finance solution. This product enables vendors and contractors working with reputable corporate and public sector clients to benefit from invoice discounting. By doing so, the company aims to improve liquidity and enhance the ability of these businesses to execute supply orders efficiently.

With this suite of innovative and inclusive financial products, Ascensia is positioning itself not just as a new entrant, but as a force for economic empowerment and transformation in Nigeria’s underserved markets.