Meet Entrepreneur Ejiro W. Akpokodje, Co-founder Of Dizbuzz, A Company That Provides An Online Financial Services That Makes Access To Loans Easier

Young Entrepreneur, Ejiro W. Akpokodje has 12 years experience in the banking industry, he has also served as a Mentor of the prestigious Tony Elumelu Foundation (TEF). He’s the Co-founder of Dizbuzz, a company that provides an online financial services to guide and make access to loans much easier. He speaks to Elorasblog in this interview.

Please tell us a little bit about your background?

My name is Ejiro W. Akpokodje, I have a Bachelor’s Degree in Finance from the University of Lagos. After my youth service, I got into one of the Tier 1 Banks in Nigeria, Guaranty Trust Bank Limited. I also worked with Fidelity Bank Plc and Sterling Bank Plc where I spent a total of 12 years in the Banking space and eventually left banking as the Team Lead of Commercial Banking covering Delta Region to venture into the fintech space.

I am a Chartered Banker and an Associate of both the Chartered Institute of Marketing UK (ACIM) and the Chartered Institute of Personnel Management (ACIPM). I am also a Member of the Nigerian Institute of Management (MNIM) as well as the National Institute of Marketing of Nigeria (MNIMN).

I serve as a Mentor of the prestigious Tony Elumelu Foundation (TEF), the Chartered Institute of Bankers of Nigeria (CIBN), and the Association of Elite Human Resource Professionals (AEHRP).

I am currently the Co-founder and Chief Marketing Officer of Dizbuzz, a public speaker as well as the Founder and Lead Consultant of Trevor & Emilia Consulting.

While we were younger we all had dreams and aspirations, have you fulfilled any?

Dreams and aspirations are a continuous part of us and while I would say I have achieved some, there are still others I am yet to achieve. I have a vision board which I look at on a daily basis to remind me of the things that I still need to work on. When I do achieve something on my vision board, I simply remove it and replace it with something new.

Therefore, I would simply say that I am a work-in-progress.

What motivated you to start up Dizbuzz?

The average Nigerian who needs financial assistance has always found it difficult to access loans from banks or financial houses due to the requirements they need to provide to access such loans as well as the length of time it takes to access such funding.

The approval process could be extremely cumbersome from the loan application stage to the final disbursement.
Hence, Dizbuzz came about to make this process easy. The basic requirements to access a loan is to make an application and meet the underlisted requirements:

  • Recent six months’ statement on salary account.
  • Current company ID card and a valid ID card.
  • Show good credit history based on credit check to be conducted.
  • A direct debit mandate would be activated on the salary account if request is approved.
    Salary earners can apply via our website www.dizbuzz.com

What are the services provided by Dizbuzz?

Dizbuzz is one of the foremost online financial service providers in Nigeria with a strong service culture that supports salary earners and small businesses in meeting their financial needs. Though our focus is more on salary earners, we also offer advisory services to businesses.

How did you come up with this business idea?

Initially, we started as a savings group, because we discovered that as Bankers it was always very difficult to save after receiving our monthly salary. However, having saved for a while and with the funds just sitting idle, there was a need for us to do something more with the funds and this was when the vision transformed and we realized that we could disburse these our savings to individual salary earners and small businesses who needed funding to meet up with a need pending the receipt of their salary or business proceeds and hence, Dizbuzz came about.

Dizbuzz is one of Nigeria’s foremost online financial services provider, What advantages would your company have on business owners and Companies who are ready to utilize your services?

In the course of doing business we have discovered that while some business owners do require loans, some business owners and companies do not need loans but rather require financial advisory services which we also ensure we provide for our customers. In addition, we pride ourselves on our prompt turnaround time, zero fees, and 24/7 availability.

What are the major challenges you’ve encountered and also set back you’ve faced doing this business?

One of the major challenges we are exposed to is default risk. No matter the mitigants you put in place there is still a possibility of default when you lend funds out to customers.

Another challenge we face sometimes is funding given that we are a totally bootstrapped company. There are certain times when the available requests exceed the funds available.

Also, the non-availability of a national/ central database where all information about borrowers can be gotten. Though, there are different private companies providing such services at a fee, there is still a lack of information for the unbanked population.

What are your best customers feedback, are they impressed with your services?

The feedback we have gotten from customers has been impressive. There have been several referrals and we have a lot of individuals who are salary earners of reputable companies, retirees, and SMEs with strong cashflow who have benefitted from our service.

Where do you see Dizbuzz in 5 years?

In 5 years, I believe we will have some additional physical presence in other major states of the federation and also transform into a full-fledged financial technology company that can compete globally.

Email: elora.akpotosevbe@yahoo.com