Loma Bank and Liberty Hub have launched an embedded finance initiative aimed at expanding access to banking and financial services for more than 11,000 entrepreneurs and small businesses across Nigeria.
The partnership will enable Loma Bank to provide financial infrastructure within Liberty Hub’s enterprise ecosystem, allowing entrepreneurs to access digital bank accounts, payment solutions, cooperative savings, business loans, insurance products, and payment cards directly through the platform.
The companies said the initiative reflects growing efforts to deepen financial inclusion within Nigeria’s informal economy by integrating banking services into digital platforms already used by entrepreneurs and small businesses.
Liberty Hub operates a cooperative-based platform that supports SMEs and entrepreneurs with access to funding opportunities, training, technology tools, market access, and business information.
According to the partners, the embedded finance model is expected to simplify access to financial services for small businesses that often struggle with traditional banking processes due to limited documentation, weak credit history, and collateral requirements.
Chief Operating Officer of Loma Bank, Ayomide Olupitan, said the initiative aligns with the bank’s broader strategy of expanding financial access through digital ecosystems with active economic participation.
“Too many entrepreneurs in Nigeria are still excluded from formal financial systems despite running viable businesses,” Olupitan said.
“What Liberty Hub has built is a trusted ecosystem with real economic activity, and we are excited to provide the banking infrastructure that helps these businesses grow sustainably.”
He explained that the collaboration goes beyond traditional banking services by helping entrepreneurs build financial identities and scale their operations more effectively.
“This partnership is about more than accounts and loans. It is about creating financial identity, improving access to opportunity and helping informal businesses become more structured and scalable,” he added.
Managing Director and Chief Executive Officer of Liberty Hub, Perk Elijah, described the initiative as a strategic response to the financial access challenges facing entrepreneurs within Nigeria’s informal sector.
“We partnered with Loma Bank to close the credit and financial access gap for Nigeria’s informal sector,” Elijah said.
“Many of our subscribers run viable businesses but are excluded from formal banking due to a lack of collateral, credit history, or documentation.”
According to him, Loma Bank’s digital-first and risk-based lending model complements Liberty Hub’s cooperative framework, making it easier to provide financial services at scale while managing lending risks efficiently.
The companies noted that the integration is expected to improve convenience for entrepreneurs through faster loan approvals, easier access to digital financial tools, and lower barriers to financing.
They added that the initiative would also strengthen efforts to formalise informal businesses, improve SME growth opportunities, and support broader financial inclusion goals across Nigeria.