Atiat Limited, an integrated financial services company, has opened its new head office in Victoria Island, Lagos, to integrate its portfolio.
The new strategy, tagged Atiat 3.0, marks the company’s evolution from a leasing and finance company into an integrated financial service ecosystem spanning finance, insurance, technology, and mobility.
Reflecting on the company’s evolution, Obinna Ufudo, Chairman of Atiat Limited, shared details of a strategic merger and buyback.
“We merged with VFD Bridge, which was also in the lending space, and ran that merger for nearly three years. In January this year, we bought back VFD’s 60% stake for N7.2 billion, valuing Atiat at N12.6 billion. We’re now fully independent.”, Ufudo said.
Ufudo also revealed new investments aimed at expanding Atiat’s footprint. “We’ve acquired a 60% stake in a microfinance bank, pending CBN approval, and are finalizing the purchase of an IT company to integrate operations across the group,” he said.
“Our new building now houses our leasing business, structured finance, consumer lending, insurance brokerage, IT services, and fleet management.”
Kanayo Eni-Ikeh, Managing Director and CEO of Atiat Limited, says key financial services remain inaccessible to millions, largely due to entrenched bureaucratic bottlenecks despite Nigeria’s position as a continental leader in fintech innovation.
Speaking at the opening, Eni-Ikeh said while Nigeria’s financial sector is experiencing rapid technological advancement, operational inefficiencies continue to hinder service delivery.
“Offering services at a simpler and faster pace is one of the major difficulties in the financial services industry. Sometimes, for the big banks or the commercial banks, there’s bureaucracy.”
A company statement highlighted the paradox of Nigeria’s fintech dominance. With a population exceeding 200 million and a GDP of approximately $472 billion, Nigeria is Africa’s largest market and accounts for nearly one-third of the continent’s fintech activity. Yet, nearly half of Nigerian adults remain unbanked, and insurance penetration is less than 0.5% of GDP.
To address these gaps, Eni-Ikeh says the company is rolling out the new strategy that consolidates a wide range of services under one trusted brand. “We’re building a platform that simplifies access to financial tools, technology, and mobility,” Eni-Ikeh said.
Obiageli Ejiofor, Executive Director of Business Development at Atiat, explained that the company’s revitalized offerings span financial services, technology, and automobile solutions. “By cross-pollinating data and expertise across businesses, from credit scoring to product customization, we’re unlocking new value,” she said.
With these moves, Atiat is positioning itself as a multi-sector powerhouse, leveraging technology to streamline financial access and reduce systemic inefficiencies.
According to the release, the decision aligns with VFD Group’s strategy to streamline its portfolio and focus resources on more promising opportunities.