Access Holdings secured a tentative approval for a new consumer lending division to be named Oxygen X Finance Company Limited, Nigeria’s biggest lender by assets said Wednesday.
The final operating license that will set the subsidiary running is now expected from the Central Bank of Nigeria, Access Holdings said in a note to the Nigerian Exchange.
The disclosure is the second diversification move by Access Holdings this week after the announcement on Monday of its acquisition of Lagos-based Megatech Insurance Brokers.
