Nigeria is overhauling its credit system by linking loan histories to citizens’ National Identity Numbers. The move aims to curb defaults, encourage responsible borrowing, and expand credit access, especially in underserved areas. Experts warned that the system must be backed by strong data protection and inclusive financial infrastructure.
Tuesday, July 1, 2025
Video - Nigeria revamps credit system to reduce defaults
Nigeria is overhauling its credit system by linking loan histories to citizens’ National Identity Numbers. The move aims to curb defaults, encourage responsible borrowing, and expand credit access, especially in underserved areas. Experts warned that the system must be backed by strong data protection and inclusive financial infrastructure.
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