By Emeka Anaeto

At the backdrop of growing concerns over relationship between lenders and borrowers in the financial sector of Nigeria’s economy, there are indications that some innovative models are emerging to create comforts across the divide.

Many small businesses in Nigeria and other individuals in the consumer finance segment have complained of harsh lending terms operated by Nigeria’s financial services institutions which have shut out a vast majority of them from bank loans.

The financial services operators have also complained that most of the small businesses and individuals are not bankable and can hardly qualify for standard bank loans.

But yesterday, while introducing a new model of microfinance services to the media, Mr Kayode Oluwagboye, Chairman, Board of Directors, Digitvant Microfinance Bank (MfB) said the entrance of his organization in the space is the beginning of a journey that would change the narrative.

According to him Digitvant’s model would transform the financial lives of millions across Nigeria, directly and indirectly, starting from the informal markets, to emerging entrepreneurs, and those who might not be considered ‘attractive prospects’ by traditional banking structures.

He stated: ‘‘At Digitvant, we have not only opened our doors to the public; we have opened opportunities, pathways, and access points to dignity, growth, and financial inclusion for Nigerians.

‘‘We envisioned a bank that would meet people where they are: in their daily hustles, in the rhythm of market life, in the aspirations of micro and small business owners.

A bank that would speak the language of simplicity, accessibility, and trust; a bank that would leverage digital tools not for elitism, but for empowerment’’.

Amplifying the new model, Mrs Florence Ogunyamoju, Managing Director of Digitvant MfB, said, ‘‘We are building a people-first, community-driven, and technology-enabled financial ecosystem that reflects the realities of the Nigerian people.

‘‘Our philosophy is simple: meet people where they are and equip them with the tools they need to thrive.

‘‘We operate at the intersection of microfinance and digital innovation, offering a robust model that promotes economic empowerment and sustainable financial inclusion.

‘‘We are building a people-first, community-driven, and technology-enabled financial ecosystem that reflects the realities of the Nigerian people’’.

Speaking on the flagship of the bank’s services, the Market Monie, Ogunyamoju said, ‘‘At the heart of our operations is Market Monie, a tailored loan product 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.

We remove traditional obstacles such as collateral and cumbersome paperwork. Instead, through our network of community agents, we have empowered over 50,000 entrepreneurs to grow their businesses and secure their livelihoods’’.