Credite Capital Finance and Investment Ltd. has declared a N70 million dividend payout to shareholders, representing a 71 per cent increase over the previous payout.
The company’s Managing Director, Mr Segun Ogunleye, announced this at its ninth Annual General Meeting (AGM) held in Lagos on Friday.
Ogunleye said the dividend translated to 23 kobo per share, compared with 17 kobo declared in the previous financial year.
“Today, we are declaring a N70 million dividend payout to our shareholders, representing 23 kobo per share.
“This is higher compared with what we declared previously, which was 17 kobo per share,” he said.
He also disclosed plans to increase the company’s capital base to N1 billion ahead of any regulatory directive.
Ogunleye said the decision was informed by anticipated changes in the financial services industry, following recent recapitalisation requirements for microfinance and commercial banks.
“As it is, we don’t have a timeframe for it. We are putting ourselves on our toes to ensure we don’t wait until regulators ask us to increase our capital base.
“We see what is happening in the industry. The first was microfinance banks, and now it has come to commercial banks.
“It will definitely come to financial companies like us,” he said.
The managing director also disclosed plans to expand the company’s branch network into South-West Nigeria, subject to regulatory approval.
He said the company remained committed to delivering strong financial results despite inflation, rising operating costs and other economic challenges.
Ogunleye attributed its performance to hard work, commitment and an organisational structure that enabled it to identify and exploit market opportunities.
“We understand that there’s inflation and other economic headwinds, but we see them as opportunities to explore despite the challenges of the business environment.
“What we have done is understand our market and explore our target to achieve results.
“Particularly, we continue to grow our lending to small and medium-sized enterprises and provide payroll loans to civil servants across the federation,” he said.
He reaffirmed the company’s commitment to protecting its brand integrity, meeting its obligations and expanding into new markets.
Ogunleye also urged the government to introduce policies that would improve the business environment and enable companies to thrive.
Earlier, the Chairman, Mr Tokunboh Abudu, said the company’s 2025 performance demonstrated resilience in spite of prevailing economic and operational challenges.
Abudu disclosed that gross earnings increased by 37.3 per cent to N2.806 billion, while interest income rose by 28.8 per cent to N480.3 million.
He said non-interest income grew by 74 per cent to N281.9 million, reflecting increased lending activities and revenue generation.
“Net interest income increased by 4.4 per cent to N489.7 million in a highly competitive funding environment.
“This was achieved despite higher borrowing costs, supported by increased transaction volumes, payment activities and deeper customer engagement,” he said.
Abudu said profit before tax rose by 9.8 per cent to N158 million, although higher energy and operating costs moderated earnings growth.
He added that total assets increased by 20.4 per cent to N8.193 billion, compared with N6.807 billion in the preceding year.
Customer deposits also grew by 16 per cent to N6.797 billion, from N5.686 billion, strengthening the company’s liquidity and funding position.
Similarly, shareholders’ funds increased by 13.4 per cent to N608 million, supported by retained earnings, capital injections and internal capital generation.
The chairman said the quality of earnings had improved, with fee income, transaction volumes and customer activity contributing more significantly to revenue.
He described the 74.1 per cent growth in other operating income, including placement and non-interest income, as one of the year’s most strategically significant achievements.
Looking ahead, Abudu expressed optimism about Nigeria’s economic outlook, predicting improved growth in 2026, supported by investor confidence, fiscal expansion and increased banking sector capitalisation.
He also anticipated further moderation in inflation, potentially creating room for monetary easing and lower interest rates.
According to him, sustained foreign inflows and relatively strong external reserves could support exchange rate stability, creating a more favourable environment for financial services and economic activities.
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