Accion Microfinance Bank Limited
“Can a CBN-licensed microfinance bank digitize the last mile of SME banking in Nigeria fast enough to defend against neobanks and telco-led fintechs?”
Founded2006
HQLagos, Nigeria
IndustryBank / Community
The story
Accion Microfinance Bank was established in 2007 as a Nigerian microfinance bank backed by Ecobank, Zenith Bank, Citibank and the IFC, focused on lending to micro-entrepreneurs. Over ~two decades it has scaled to 674,000+ customer accounts and 70+ branches across Nigeria, layering on digital channels (USSD *572#, AccionMonie mobile app, agency banking, merchant POS, debit and credit cards). In 2025 the bank tapped Nigeria's debt capital markets for the first time with a N5bn CP programme to fund working capital and accelerate digital transformation.
Last 12 months
Product timeline
2006
Company incorporated (RC 653525)· founding
2007
Commenced microfinance operations under CBN license with backing from Ecobank, Zenith Bank, Citibank and IFC· launch
2022
Launched AccionMonie mobile app on iOS and Android· digital
2025
Debut N5bn Commercial Paper programme; Series 1 N2.02bn issued via FBNQuest Merchant Bank· capital_raise
2025
Achieved ISO 27001:2022, ISO 22301:2019, ISO 20000-1:2018 certifications· compliance
Regulated entities
1
regulatory licence held by Accion Microfinance Bank Limited
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
4 layers disclosed in Accion Microfinance Bank Limited’s embedded-finance stack
Payments / PSP
Accion Merchant POS (self-operated)USSD *572# (self-operated)Agency Banking (self-operated)
Banking / BaaS
in the full report
Card issuing
in the full report
Lending
in the full report
Accounting gap: significant
9 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.