Access Bank Launches Maiden SME Academy to Strengthen Tax and Financial Literacy for Entrepreneurs

More than 100 entrepreneurs have praised Access Bank’s maiden SME Academy as a transformational three-day training that clarified critical areas such as tax compliance, business structuring, and financial management—issues many had long struggled with in their operations.

The program focused on real-world challenges faced by early-stage businesses, including valuation, record keeping, customer retention, and navigating new government policies. Participants said the taxation and business planning sessions were especially impactful, helping debunk widespread misconceptions that emerged after recent policy changes.

Gbenga Agoye of Grandmade Ltd., a logistics and export company, noted that the tax training resolved long-standing confusion in his business. “I have been struggling with that, so I quite had an impressive knowledge about what it is and how to go about it,” he said. He also commended the leadership and customer service classes for improving his operational discipline and service delivery.

Mosebolatan Ladi-Lawal of M2M Stores shared similar sentiments, explaining that she previously had limited understanding of both old and new tax rules. We were really taught about it in this training, and I believe it will help me scale better,” she said. Learning about VAT, business planning, and the Pro-Max tax system provided practical insights she had been missing. She added that understanding proper business structuring will help her diversify and ensure smooth operations even in her absence.

According to Abiodun Olubitan, Group Head for SME Banking Products at Access Bank, the academy was specifically tailored for SMEs that have operated for four to five years but are now facing growth barriers. “Valuation is a problem, taxation is another key thing, finance management. Then we had to delve into customer service so they are able to build their customer base and retain them, she explained.

Olubitan highlighted that the emphasis on tax education stemmed from confusion surrounding recent government policies. Access Bank’s goal, she said, is to simplify regulations so SMEs understand how proper compliance supports long-term growth. While government policies may seem stringent, she noted, the real challenge is often lack of proper guidance.

She added that the bank also extends support to unregistered businesses by recognising cash flow in personal accounts as a basis for credit access. “We can see you even at your state as an individual… so that we can give them financial support, grow with them, and give them opportunities to now register their business and start identifying as an SME,” she said.

Olubitan encouraged entrepreneurs to remain informed, leverage available resources, and understand that business growth requires patience and commitment. Entrepreneurship is not a sprint, it’s a marathon, she concluded.