AB Microfinance Bank Nigeria Limited
“Can a shareholder-backed microfinance bank digitize the loan cycle fast enough to serve Nigeria's underbanked MSMEs at scale?”
Founded2008
HQIkeja, Lagos, Nigeria
Total raised$4.9M
Latest roundDebt
IndustryBank / Community
The story
AB Microfinance Bank Nigeria was founded in 2008 as a CBN-licensed national microfinance bank, backed by international development finance institutions (Access Microfinance Holding AG, KfW, AfDB, IFC). Its core business remains micro, SME, and housing lending to underserved Nigerian entrepreneurs, complemented by savings, current, and fixed deposit accounts. Recent evolution centers on digitizing the loan cycle and expanding electronic banking (myABflex mobile app, Verve debit cards, POS acquiring) to reduce operating cost while extending reach.
Last 12 months
Product timeline
2008
Founded and licensed by the Central Bank of Nigeria as a national microfinance bank· banking
2011
Adopted NIBSS Instant Payment (NIP) for interbank real-time transfers· banking
2024
Launched N3bn Series 4 commercial paper· funding
2024
Loan cycle digitalization initiative in partnership with AccessHolding· lending
Regulated entities
1
regulatory licence held by AB Microfinance Bank Nigeria Limited
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
5 layers disclosed in AB Microfinance Bank Nigeria Limited’s embedded-finance stack
Payments / PSP
NIBSS (self-operated via NIP)myAB-POS (self-operated)
Banking / BaaS
in the full report
Card issuing
in the full report
Card network
in the full report
Lending
in the full report
Accounting gap: none
9 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.