Accion Microfinance Bank has celebrated its 20th anniversary, marking two decades of supporting small businesses, empowering underserved communities, and deepening financial inclusion across Nigeria.
The milestone was commemorated at a gala event in Lagos attended by customers, partners, employees, industry stakeholders, and business leaders who gathered to reflect on the institution’s journey from a small microfinance lender established in 2006 to a recognised player in Nigeria’s financial inclusion landscape.
Over the years, the bank has focused on providing accessible financial services to traders, artisans, market women, small business owners, and individuals traditionally excluded from formal banking systems.
Speaking during the celebration, Taiwo Joda, the bank’s Managing Director and Chief Executive Officer, said the institution’s mission has always extended beyond profitability.
“As we look at the future, there is one thing that remains clear to me. If there is anything we must preserve, it is our purpose,” he said.
According to Joda, the bank’s long-standing vision has centred on economic empowerment and creating sustainable impact within underserved communities.
He noted that the institution’s success should not only be measured by the number of years it has existed, but by the lives and businesses it has transformed.
“Twenty years from now, I want the story of Accion to reflect not just how long we have existed, but how deeply we have mattered,” he added.
Participants at the event highlighted the growing role of microfinance institutions in improving financial inclusion across Nigeria.
Industry stakeholders noted that access to financial services has expanded significantly over the past two decades, driven largely by the growth of microfinance banking, agency banking, and digital financial services.
According to discussions at the event, Nigeria’s financial inclusion rate has risen from below 20% in the early 2000s to nearly 70 per cent today.
Speakers described financial inclusion as a vital tool for economic participation, especially for underserved communities and emerging entrepreneurs.
“I think financial inclusion is democratising access,” one participant said. “Everyone, wherever they are, should have the opportunity to realise their potential without the constraints of limited financial support.”
The anniversary also provided an opportunity to reflect on the evolution of the microfinance sector and the increasing importance of technology in financial services.
Executives noted that while the bank began with a traditional brick-and-mortar model, it has increasingly embraced digital transformation to improve efficiency and customer experience.
“We started with the traditional brick-and-mortar model, but over the years we have embraced technology and digital transformation while still keeping the human connection with customers,” one executive said.
According to the bank, digital tools are helping improve access to financial services, especially within informal markets and underserved communities.
Despite the shift toward technology-driven banking, speakers stressed that the institution’s long-term strength remains rooted in its people-focused approach and close relationships with customers.
