The Chairman of FIT Group of Companies, Chief Loretta Aniagolu, has announced that the newly launched FIT Microfinance Bank is set to play a pivotal role in assisting real estate developers with funding for affordable housing projects in Nigeria.
Speaking during the official launch at the HELIU Residences, Enugu, on Thursday, Aniagolu described the bank as a transformative initiative in Nigeria’s financial and real estate sectors. She emphasized that the bank aims to empower individuals and small businesses by offering accessible credit and innovative financial services, enabling more Nigerians to build their dream homes at discounted rates.
Revolutionizing Real Estate Financing
Highlighting the value chain impact of real estate, Aniagolu underscored the crucial role of accessible credit in fostering economic growth. She noted that real estate development not only addresses housing needs but also contributes to job creation across various sectors, including education, healthcare, and hospitality.
“Building an economy requires a strong backbone in real estate development, both residential and commercial. However, the ability to achieve this depends on providing income and circulating credit,” Aniagolu stated.
She added that the bank’s long-term goal is to offer loans tailored for affordable housing projects, thereby restoring dignity and creating opportunities for Nigerians through home ownership.
Advancing Financial Inclusion
The Managing Director of FIT Microfinance Bank, Mr. Andrew Okpeh, revealed that the bank started with a capital base of ₦250 million and aims to become the leading microfinance institution in the Southeast region.
“Our strategy is centered on leveraging innovative technology and the digital space. By the first quarter of 2025, we plan to deploy 10,000 POS machines across rural and urban areas in the Southeast, ensuring our presence is felt in every community,” Okpeh said.
As part of its community service initiatives, the bank will organize cooperative groups to educate members on wealth creation while providing tailored support to grow their businesses.
“We are redefining banking for underserved areas,” Okpeh added. “Our advanced technology will ensure seamless transactions, such as notifying users about network issues before transfers, thereby improving customer experience.”
With this launch, FIT Microfinance Bank seeks to deepen financial inclusion, provide essential credit facilities, and contribute significantly to Nigeria’s housing and economic development.
