Checkoff Finance, a leading entity in Nigeria’s financial solutions and credit services ecosystem, has closed its 2024 financial year on a high note, reporting impressive returns that reflect its sustained growth and innovative approach to the financial services sector.
It has been a year of strategic growth, as Checkoff Finance consciously expanded its products portfolio, leveraging technology-driven solutions to meet the increasing demand for personal and business credit.
By focusing on underserved segments and providing tailored financial products, the company has solidified its position as a leader in the Nigerian fintech space.
The key highlights of the financial year experienced highs in its revenue growth. It released the Company’s unaudited financial statement for the fourth quarter (eleven months) ended 31st November 2024 unaudited accounts puts revenue at 1.4 billion Naira, declaring revenue and Gross profit at N361 million Naira for the period following its End-of-Year Roundtable at Marriott Hotel Ikeja on 6th December 2024.
The company reported a significant increase in revenue despite headwinds in the economy, devaluation of Naira, and skyrocketing inflation amongst others. This growth is attributed to higher loan disbursements and increased client acquisition.
Key human capital and shareholders of Checkoff Finance expressed delight at the rich returns, as the MD/CEO, Habila Musa-Luka, and Chairman, Seyi Banigbe assured that Checkoff Finance Company Limited is well positioned to continue to succeed in the years to come, even in the face of prevalent economic challenges.
She attributed the optimism to the decisions that the financial institution has made over the past few years, especially those around leveraging new digital technology, to expand access to financial transactions.
Meanwhile, another bright window is the expansion of its customer base, as Checkoff Finance broadened its reach, as its customer base now exceeds over 25,000 customers recording a 250% jump in customer base particularly in the public sector and financial advisory services to a niche market.
In addition, innovation in products and services delivered high yields. Product offerings, such as employee loans and instant cash, salary-backed loans have contributed to the company’s success, meeting diverse customer needs.