After 18 years as a traditional lender, Credit Direct, one of Nigeria’s leading consumer finance companies, has officially transitioned into a fully digital financial technology company, unveiling a suite of next-generation fintech products designed to meet the evolving needs of individuals and businesses.
At its “This is Credit Direct” demo event held in Lagos on March 29, the company introduced a dynamic range of offerings focused on digital payments, retail investment, and a Buy Now, Pay Later (BNPL) platform, signaling a bold step into Nigeria’s rapidly growing fintech space.
“Today isn’t just about launching products. It’s about telling a bigger story of transformation, intent, and market leadership,” said Chukwuma Nwanze, Managing Director and CEO of Credit Direct.
From Lender to Digital Finance Leader
Credit Direct’s transformation has been underway since 2022, culminating in what is now a digital-first, capital-efficient, and purpose-driven finance company. This shift has already delivered impressive results:
- Revenue growth from N1.6 million/hour to over N9 million/hour
- Market share expansion from 18% to 30% of Nigeria’s consumer lending industry
- Over N90 billion in cumulative profits
- An ROE exceeding 80%
- Consistently low Non-Performing Loan (NPL) ratios
- Loan processing time cut from 8 hours to under 5 minutes
All this, the company emphasizes, has been achieved without a primary capital raise in over 15 years.
L-R: Gbadebo Adeleke- Head, Enterprise Projects and Paramilitary Business, Credit Direct; Faith Ojeiku Head, Embedded Finance, Credit Direct; Kabir Karim – Head, Federal Business, Credit Direct; Femi Mogaji Head, State Business, Credit Direct; Gboyega Adelowore– Chief Risk Officer, Credit Direct; Godwin Clark Head, Digital Personal Loans, Credit Direct; Anita Okonji– Finance Controller, Credit Direct; Chukwuma Nwanze, MD/CEO, Credit Direct; Abiodun Adigun, Chief Marketing Officer, Credit Direct; Linda Apesin, Head, Customer Experience & Operations, Credit Direct; and Nifemi Oluboyede, Chief Product Officer, Credit Direct
L-R: Nifemi Oluboyede, Chief Product Officer, Credit Direct; Gboyega Adelowore, Chief Risk Officer, Credit Direct; Linda Apesin, Head of Customer Experience and Operations, Credit Direct; Chukwuma Nwanze, MD/CEO, Credit Direct; Kemi Martins, Head of Brands, Marketing and Corporate Communication, Credit Direct; Abiodun Adigun, Chief Marketing Officer, Credit Direct; Bashar Logun, Chief Information Officer, Credit Direc); and Faith Ojeiku, Head, Embedded Finance, Credit Direct.
The New Product Ecosystem
At the heart of Credit Direct’s new strategy is a comprehensive suite of digital tools designed to empower customers financially across multiple channels — mobile, web, USSD, API, WhatsApp, and even AI-assisted services.
1. Credit Direct Mobile App
An all-in-one platform where users can send, invest, and earn. The app features a daily interest-earning wallet with no minimum balance or withdrawal restrictions — making it a powerful tool for everyday financial management.
“Even when you’re not actively investing, your money is already working for you—quietly, consistently, in the background,” noted Nifemi Oluboyede, Chief Product Officer.
2. CLARA – Credit, Lifestyle, and Revenue Assistant
Powered by artificial intelligence, CLARA helps users manage their finances, track spending, and make smarter money decisions.
3. Credit Direct Checkout
Billed as Nigeria’s first fully digital Buy Now, Pay Later platform, it’s built for seamless merchant integration and customer trust, offering installment payment options directly through merchant websites.
4. Yield by Credit Direct
A digital wealth creation platform that allows individuals and businesses to grow their funds daily — offering accessible and smart investment options in a simplified environment.
Vision for the Future
Credit Direct’s evolution isn’t just technological; it’s strategic. The company is now positioning itself at the intersection of fintech innovation, financial inclusion, and customer-centricity.
With ambitions to become the go-to platform for daily financial decisions, Credit Direct is building more than just apps — it’s creating a holistic financial ecosystem that’s accessible, intuitive, and impactful.
In an economy where trust, speed, and convenience are paramount, Credit Direct’s digital leap could set a new benchmark for how finance is delivered in Africa.