Consumer Credit Regulation gets a boost

Nigerians are enthusiastic with the introduction of the National Consumer Credit Regulatory Commission. The Bill which is aimed at increasing the level of consumer credit has currently passed its 2nd reading at the National Assembly. Chances are that the Bill will be passed into law before the present administration comes to an end in May 2007. While it is likely that a consumer credit system may enhance the power of consumers and help alleviate poverty, it is also true that if the FG does not put in place strict control measures, the desired result may not be achieved as it may pose challenges of sustaining inflation within single digit. For more information, please visit http://www.natconsumercredit.gov.ng/.