Nigerian B2B e-commerce company Alerzo is facing financial difficulties after the Federal High Court in Lagos ordered the freezing of its accounts and assets over a ₦5 billion (about $3.7 million) loan from Moniepoint Microfinance Bank.
The court issued Mareva’s sentence in January 2026, prohibiting financial institutions from disbursing funds associated with Alerzo Limited and related parties pending the determination of the sentence.
Court filings show that as of December 3, 2025, the company’s liability stands at ₦4.38 billion (about $3.2 million), with interest continuing to increase.
The loan, approved in January 2025 for an 18-month period, was intended to provide working capital and limit the availability of space to Alerzo’s network of local dealers.
Payment problems emerged during the month, underscoring the pressures facing high-volume, low-margin distribution businesses operating in Nigeria’s rich economy.
Asset sales forecast and CEO feedback
Videos circulating on social media showed Alerzo-branded motorcycles and buses parked at its Ibadan facility, leading to speculation that the company was suspending its operations.
Chief Executive Officer Adewale Opaleye has denied that Alerzo is scrapping its operational fleet. He said that the company is selling scrap equipment and that more than 400 vehicles are still working.
According to him, the sale of assets is not related to Moniepoint loans.
From inflation-backed inflation to price pressure
Founded in 2019, Alerzo has positioned itself as a technology-driven marketplace that connects fast-moving consumer goods manufacturers to informal retailers.
By integrating digital ordering, payment and last-mile logistics, it sought to improve pricing and search access for small stores.
During the African venture capital period between 2020 and 2022, the company has raised more than 20 million dollars from investors including Nosara Capital, FJ Labs, Baobab Network and Signal Hill.
After securing a $10.5 million Series A round, Alerzo expanded aggressively across northwest Nigeria.
That growth has greatly increased its fixed income. Spending more on cars, fuel, warehouses and labor has eroded margins.
Although the company reported breaking even in the third quarter of 2021 operating in two cities, the expansion of the country is linked to the decline in income, rising oil prices and reducing consumer demand.
Between 2022 and 2024, Alerzo cut a number of jobs, reducing its workforce from more than 2,000 employees to less than 800.
Increasing corporate instability across Africa
While there is no consolidated data showing the number of companies that have been set up in Nigeria in recent months, trends on the continent indicate increasing business concerns.
In South Africa, BusinessTech reported that less than 100 businesses closed in the first month of 2026.
Statistics South Africa recorded 96 closures in the first weeks of the year, with the fourth highest in the finance, insurance, real estate and business services sector.
The logistics and transport sector has been particularly affected. Flexi Fuel Logistics (Pty) Ltd was recently set up. SA Relocations Group faces legal action after ceasing operations.
Major logistics provider RTT is grappling with the most serious supply chain problems, while SA Express entered the final phase in 2022.
These events highlight the challenges facing businesses across the continent, especially those facing volatile oil prices, currency fluctuations and the tightening of credit conditions.
Alerzo’s situation is taking place against this backdrop of monetary tightening, rising operating costs and increasing pressure on business-heavy businesses across Africa.
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