CBN Grants Access Holdings Approval-In-Principle For Consumer Lending Subsidiary

The CBN has given Access Holdings Plc, the parent company of Access Bank, its preliminary clearance to establish Oxygen X Finance Company Limited, a consumer lending subsidiary.

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A corporate statement on the NGX website states that the business will launch as soon as the CBN grants final permission.

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In the disclosure signed by Sunday Ekwochi, Access Holdings’ Company Secretary, Oxygen X is expected to “make a positive impact on the financial landscape by providing innovative and seamless digital lending solutions to address distinct challenges faced by individuals and businesses,”