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Access Holdings has obtained Central Bank of Nigeria (CBN) approval-in-principle to establish a consumer lending subsidiary to be known as Oxygen X Finance Company Limited.
The proposed consumer lending subsidiary will 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, Access said in a statement.
The consumer lending subsidiary will commence operation upon obtaining final operating licence from the Central Bank of Nigeria.
Access Holdings says it will update the market on subsequent developments regarding the licensing process in due course.
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