MCO Penny Opens Abuja Branch, Expands Financial Services for Civil Servants

MCO Penny has expanded its operations to Abuja, opening a new branch in the Federal Capital Territory (FCT) as part of its drive to improve financial inclusion for Nigerian civil servants.

The FCCPC-licensed fintech said the expansion reflects its commitment to providing accessible financial services to public sector workers, a segment it believes has historically faced challenges accessing traditional banking and lending solutions.

Founded by business leader and public sector expert Michael Collins, MCO Penny focuses on delivering financial products designed specifically for civil servants. The company said its mission is to bridge the financial inclusion gap by offering responsible, transparent and convenient financial solutions.

The new Abuja office will provide the company’s full range of services, including IPPIS-backed loans for civil servants, deposit savings accounts and fixed deposit investment products, complementing its existing operations in Lagos.

Speaking on the expansion, Founder and Chief Executive Officer of MCO Penny, Michael Collins, described Abuja as a strategic milestone in the company’s growth.

“Abuja represents a natural and important step in our growth. Civil servants across the FCT deserve the same trust, speed and transparency that our Lagos customers have come to expect from us. This branch is our commitment to bringing that experience closer to them,” Collins said.

According to the company, its digital lending platform enables eligible customers to complete loan applications online, with approved funds disbursed within hours. It said the process is designed to simplify borrowing while promoting responsible lending practices.

“Our goal is to remove the stress and stigma of borrowing. Civil servants work hard for this country; they deserve support that’s fast and fair,” Collins added.

MCO Penny said the Abuja branch will be supported by dedicated customer experience and investment banking teams to ensure efficient service delivery.

The expansion also aligns with the company’s broader growth strategy, which includes other businesses under the MCO Group, such as MCO Quick Ride Rentals.

Collins said the company would continue to combine technology, industry expertise and customer-focused services to improve financial access for Nigerians in the public sector.

Established with a focus on public sector lending, MCO Penny provides loan facilities, savings products and fixed deposit investment services through its branches in Lagos and Abuja. With more than a decade of experience in the sector, the fintech says it remains committed to expanding access to inclusive financial services across Nigeria.