CBN Gives Green Light: Access Holdings Set To Launch Consumer Lending Subsidiary

The Central Bank of Nigeria has granted approval in principle to Access Holdings Plc, the parent company of Access Bank, to establish Oxygen X Finance Company Limited, a consumer lending subsidiary…..CONTINUE READING

In a regulatory filing with the Nigerian Exchange Limited on Wednesday, Access Bank stated that the business would be launched as soon as the CBN grants final permission.

Company Secretary, Access Holdings, Sunday Ekwochi, said Oxygen X is expected to “make a positive impact on the financial landscape by providing innovative and seamless digital lending solutions to address distinct challenges faced by individuals and businesses.

“Access Holdings Plc (“Access Holdings”) is pleased to inform the investing public and the Nigerian Exchange Ltd that it has obtained the Central Bank of Nigeria’s approval-in-principle to establish a consumer lending subsidiary to be known as Oxygen X Finance Company Limited.

“The proposed subsidiary will make a positive impact on the financial landscape by providing innovative and seamless digital lending solutions to address distinct challenges faced by individuals and businesses in our rapidly evolving world.