Atiat Restricted, an built-in monetary companies firm, has opened its new head workplace in Victoria Island, Lagos, to combine its portfolio.
The brand new technique, tagged Atiat 3.0, marks the corporate’s evolution from a leasing and finance firm into an built-in monetary service ecosystem spanning finance, insurance coverage, expertise, and mobility.
Reflecting on the corporate’s evolution, Obinna Ufudo, Chairman of Atiat Restricted, shared particulars of a strategic merger and buyback.
“We merged with VFD Bridge, which was additionally within the lending house, and ran that merger for practically three years. In January this 12 months, we purchased again VFD’s 60% stake for N7.2 billion, valuing Atiat at N12.6 billion. We’re now totally unbiased.”, Ufudo mentioned.
Ufudo additionally revealed new investments aimed toward increasing Atiat’s footprint. “We’ve acquired a 60% stake in a microfinance bank, pending CBN approval, and are finalizing the acquisition of an IT firm to combine operations throughout the group,” he mentioned.
“Our new constructing now homes our leasing enterprise, structured finance, client lending, insurance coverage brokerage, IT companies, and fleet administration.”
Forms, a Barrier to Seamless Monetary Companies in Nigeria
Kanayo Eni-Ikeh, Managing Director and CEO of Atiat Restricted, says key monetary companies stay inaccessible to tens of millions, largely because of entrenched bureaucratic bottlenecks regardless of Nigeria’s place as a continental chief in fintech innovation.
Talking on the opening, Eni-Ikeh mentioned whereas Nigeria’s monetary sector is experiencing fast technological development, operational inefficiencies proceed to hinder service supply.
“Providing companies at a less complicated and sooner tempo is without doubt one of the main difficulties within the monetary companies business. Generally, for the large banks or the industrial banks, there’s paperwork.”
Nigeria’s Fintech Dominance in Africa
An organization assertion highlighted the paradox of Nigeria’s fintech dominance. With a inhabitants exceeding 200 million and a GDP of roughly $472 billion, Nigeria is Africa’s largest market and accounts for practically one-third of the continent’s fintech exercise. But, practically half of Nigerian adults stay unbanked, and insurance coverage penetration is lower than 0.5% of GDP.
To handle these gaps, Eni-Ikeh says the corporate is rolling out the new technique that consolidates a variety of companies below one trusted model. “We’re constructing a platform that simplifies entry to monetary instruments, expertise, and mobility,” Eni-Ikeh mentioned.
Obiageli Ejiofor, Govt Director of Enterprise Growth at Atiat, defined that the corporate’s revitalized choices span monetary companies, expertise, and car options. “By cross-pollinating information and experience throughout companies, from credit score scoring to product customization, we’re unlocking new worth,” she mentioned.
With these strikes, Atiat is positioning itself as a multi-sector powerhouse, leveraging expertise to streamline monetary entry and cut back systemic inefficiencies.
What You Ought to Know
- In February, VFD Group introduced the approval by its Board for the divestment of 343,546,646 strange shares in Atiat Restricted, valued at over N7 billion.
- This announcement was made public by way of a disclosure revealed on the Nigerian Change (NGX) on February 7, 2025, and was signed by the corporate secretary, Gbeminiyi Shoda.
- The Board’s choice to divest 57.26% of VFD’s stake in Atiat Restricted, as per Part 289(8) of the Firms and Allied Issues Act 2020, signifies a significant shift within the firm’s funding technique.
In keeping with the discharge, the choice aligns with VFD Group’s technique to streamline its portfolio and focus sources on extra promising alternatives.
