Digitvant Microfinance Bank Empowers Over 50,000 Businesses with “Market Monie” Loans

Digitvant Microfinance Bank, a rapidly emerging player in Nigeria’s fintech landscape, announced on Monday, July 28, 2025, that it has disbursed credit facilities to over 50,000 small and medium-sized businesses through its flagship product, “Market Monie.” The milestone was revealed at a press conference held at the bank’s branch in Ikeja, Lagos.

Licensed by the Central Bank of Nigeria, Digitvant Microfinance Bank, through its market-facing entity Digitvantpay, is focused on bridging the financial inclusion gap, particularly within Nigeria’s vast informal sector.

Speaking at the press conference, Mr. Kayode Oluwagboye, Chairman of the Board of Directors of Digitvant MFB, emphasized the company’s unique approach. “At the heart of our operations is Market Monie, whose impact has extended beyond the financial lifeline we have given to over 50,000 businesses to the dignity that is integral in our service,” Oluwagboye stated. “We believe that yes, we run a business, and we shall make a profit, but not at the expense of the dignity and self-esteem of our customers, and this is one of the things that sets us apart.”

The Managing Director, Florence Ogunmayoju, explained that “Market Monie” is a tailored loan product specifically designed to address the working capital needs of small and medium-sized businesses. “It is flexible, easy to access, and reflects the unique rhythm of informal sector enterprises,” Ogunmayoju noted. She highlighted that the bank actively removes traditional obstacles such as collateral and cumbersome paperwork, instead leveraging a network of community agents to empower entrepreneurs.

With Nigeria’s informal sector contributing nearly 48 percent of the national GDP and employing 84 percent of the workforce, Digitvant’s focus on this segment is strategic. “Yet, the majority remain outside the formal financial system,” Ogunmayoju observed, adding that Digitvant blends “the agility of fintech with the empathy of microfinance” to reach this underserved population.

The bank’s Chief Technology Officer, Tolulope Awode, assured that the DigitvantPay mobile application, which facilitates much of the banking experience, has robust security features built-in to safeguard depositors’ funds and build confidence among users in both rural and urban environments.

Digitvant Microfinance Bank aims to transform underserved and remote communities into hubs of growth and resilience, envisioning a future where digital finance unlocks boundless opportunities and prosperity across Nigeria and potentially, Africa.