VFD Group / V Bank

VFD Group began with a different ambition from the digital banks that have emerged in Nigeria in recent years. The company was incorporated in July 2009 and developed as a proprietary investment company, building and investing in businesses across different parts of the financial and wider economy, including banking, non-banking financial institutions, market infrastructure, technology, real estate, hospitality and energy.

Within that broader group sits VFD Microfinance Bank, the business behind the VBank brand. VFD Microfinance Bank is licensed by the Central Bank of Nigeria, and its deposits are insured by the Nigeria Deposit Insurance Corporation. The bank operates the V by VFD mobile banking application, through which customers can access savings, loans, fixed deposits, bill payments, debit cards, child accounts and joint accounts.

VBank's proposition therefore gives VFD Group a consumer-facing presence in a market increasingly shaped by digital-first financial services. Customers can open and manage accounts digitally, save, borrow, make payments and access other banking services without depending on the traditional branch-based model, alongside newer products such as an art-based lending offering developed with ArtSplit and Anchoria Asset Management.

The VFD Group/VBank proposition is consequently different from that of a standalone fintech. Its digital banking brand is backed by an established Nigerian investment group with interests extending well beyond retail banking. The opportunity ahead lies in translating that wider institutional strength into greater consumer visibility and a stronger everyday relationship with Nigerian banking customers.