Finally, the Consumer Credit Policy and Regulatory Framework has just been launched by the Federal Government. It is hoped that this initiative will increase consumer's access to credit and thereby boost the purchasing power of the average Nigerian.
In the same vien, the first private credit bureau (CR Services Limited, providing services via the CreditRegistry brand - http://www.creditregistry.com/) was incorporated in 2003 in the country to provide modern private credit bureau services with the use of advance technologies based on facial and finger print biometrics for borrower identification. Today, some of Nigeria's leading banks, mortgage institutions are already signed on with CR services and the list is ongoing. We expect that with these innovation/initiatives, the average Nigerian can enjoy facilities and engage in credit transactions that they would be able to pay for over a period of time.
In the same vien, the first private credit bureau (CR Services Limited, providing services via the CreditRegistry brand - http://www.creditregistry.com/) was incorporated in 2003 in the country to provide modern private credit bureau services with the use of advance technologies based on facial and finger print biometrics for borrower identification. Today, some of Nigeria's leading banks, mortgage institutions are already signed on with CR services and the list is ongoing. We expect that with these innovation/initiatives, the average Nigerian can enjoy facilities and engage in credit transactions that they would be able to pay for over a period of time.
