Why Skystone’s Clients Stay Committed
In Nigeria’s financial services industry, customer loyalty can be fleeting. With dozens of banks, fintechs, and finance houses competing aggressively for clients, retaining customers has become as important as acquiring them. Yet, one institution, Skystone Finance Company Limited, has quietly built a base of loyal clients who have stood by the firm throughout its seven-year journey. As the company celebrated its seventh anniversary, Managing Director/CEO Mr. Ola Olabinjo reflected on the role customer loyalty has played in Skystone’s growth story. “Customers have been very loyal, and I must thank them for that,” Olabinjo said in an interview with the company’s Media and Corporate Communications team. “Both our lending customers as well as our borrowing customers have stood by us. It’s a period of immense gratitude to Almighty God, and to the staff and board who made sure we earned that trust.”
More Than Transactions: Building Relationships
From inception, Skystone Finance has positioned itself not merely as a lender but as a partner to its clients. The firm’s approach is rooted in advisory, governance support, and personalized financial solutions, qualities often missing in larger, transactional institutions. For example, Skystone has worked closely with indigenous companies like Coleman Technical Industries (formerly Coleman Wires and Cables), providing not just financial support but also advisory services that have helped the firm improve its business structure. Similarly, Tulcan Petroleum, one of Skystone’s earliest partners, has collaborated with the company on business restructuring and multilateral funding arrangements. These relationships are not incidental; they reflect a deliberate strategy of long-term partnership.
“We don’t just provide credit; we deploy our skills to make our clients stronger businesses."
Ola Olabinjo
Trust Built on Governance and Ethics
One of the reasons Skystone has enjoyed consistent loyalty is its emphasis on governance and ethics. According to Olabinjo, the board’s guiding principle has always been to remain ethical and uphold corporate governance at all levels. “From the very beginning, our watchword has been that we must be ethical, and there must be top-down governance in everything we do,” he said. This focus has given customers confidence that Skystone is not just a short-term financier but a dependable institution.
Navigating the Generational Shift
Interestingly, Skystone has also managed to build loyalty across generations of staff and customers. Olabinjo noted that the company employs many Gen Z professionals, a demographic often viewed as difficult to manage. Yet, Skystone has successfully harnessed their energy and creativity, creating a positive workplace culture that reflects outwardly in client service. “I know it’s difficult working with Gen Z. We have a lot of them in the company,” Olabinjo said with a smile. “But we have cracked the code of getting the best out of them by providing a conducive environment. That has made them better, and in turn, made our customer service better.”
Loyalty as a Growth Engine
The loyalty Skystone enjoys has translated directly into growth. Its lending balance sheet has expanded significantly, capital adequacy has increased through reinvested capital, and the company has built a reputation as one of the top finance houses in Nigeria. This loyalty has also fueled Skystone’s diversification. As it prepares to launch fund management and issuance operations in 2025, the company will be relying on its loyal client base as a springboard into investment banking.
Gratitude and the Road Ahead
Olabinjo was quick to emphasize that customer loyalty is not taken for granted. He attributed much of it to transparency, consistency, and the value-added services the company provides. “Our customers see truthfulness, see dedication, see skills and knowledge, and they have been very, very dedicated to what we do,” he noted. As Skystone looks ahead to the next seven years, including ambitions to secure a commercial banking license, it is evident to say that loyalty will remain at the core of its growth. In an industry where competition is fierce and switching costs are low, Skystone’s ability to keep customers committed is not just an achievement; it is a competitive advantage.
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