Zitra Seeks N50bn Funding To Deepen Microfinance, Asset Management

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The company said proceeds from the programme would also be used to expand its geographical reach, deepen transactions and strengthen its digital infrastructure as it positions for further growth.

The plan was disclosed at the signing ceremony for the N50 billion Commercial Paper Programme held in Lagos yesterday, with lead arrangers, issuing houses, solicitors, advisers and executives of Zitra Investments in attendance.

Speaking at the ceremony, the Chief Executive Officer of Zitra Investments, Mr. Babatunde Obadero, said the group’s financial services ecosystem required additional capital to support the growing operations of its microfinance bank and asset management company.

He explained that while the microfinance bank needed greater capacity to deploy capital, the asset management business required additional working capital to support its operations and growth ambitions.

“Accessing capital through the programme will support more geographic spread, better depth in transactions and more work on digital infrastructure,” he said.

Obadero highlighted the company’s growth trajectory, noting that its deposits had risen significantly from approximately N1.25 billion in the first nine months of 2021 to more than N30 billion in the corresponding period of 2026.

Similarly, he said the company’s revenue had grown from approximately N600 million in the first nine months of 2021 to nearly N4 billion in the first nine months of 2026.

According to him, the growth reflects increasing customer confidence in the institution and provides a strong foundation for accessing the capital market to finance its next phase of expansion.

“Today, our customers have demonstrated tremendous trust in us. They have entrusted us with deposits exceeding N30 billion. This demonstrates the confidence they have in our institution and gives us the platform to approach the capital market and explore further opportunities for growth,” Obadero said.

Also speaking, the Managing Director of Mullberry Advisory Services Limited, Mr. Suru Daniels, said the programme represented an important milestone in positioning Zitra Investments as a growing institution with access to capital market funding.

He noted that participation in the capital market would enhance the company’s profile, strengthen its credibility and provide opportunities to engage more meaningfully with other market participants.

“It means Zitra Investments has access to capital and the credibility to trade with and for other market participants. That, in itself, speaks to the quality of the institution and the growing depth and strength of the capital market,” Daniels said.

He added that the programme would further strengthen the confidence of the company’s clients and business partners by demonstrating its capacity to operate as a credible counterparty in credit transactions.

Daniels also noted that the N50 billion programme size reflected the scale of Zitra Investments’ growth ambitions and its plans to expand its presence in the financial services sector.

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Join Our WhatsApp Channel –> –> Olushola Bello Olushola Bello is a Senior Journalist at Leadership Newspaper, reporting on Nigeria’s capital market, industry sectors, and broader economic issues. She is known for high-impact stories and in-depth analysis on business developments and financial markets, underpinned by strong editorial judgement and a commitment to accuracy and fairness.