Disturbed by low level of credit penetration in Nigeria, experts of credit bureau practice met with bankers in Lagos late March on a platform tagged Professionals Leadership Forum.  The meeting, which the conveners, CRC Credit Bureau Limited and Dun & Bradstreet, said would hold regularly as banks are more positioned to lend, was meant to review the level of credit penetration in the country and how the situation can be addressed through stronger collaboration between lenders and credit bureaus.

Issues discussed were ranging from poor access to credit, lopsidedness of bank credit, inappropriate credit scoring, scanty information on credit history of borrowers and the challenge of reliable identification means were examined by the participants.

It was observed that if deep and broad-based credit penetration with the real sector (the mainstay of sustainable economies) being the highest beneficiaries, if these challenges are not addressed head-on. To address them, appropriate legal and administrative frameworks must be put in place by the government, they suggested.

To read the full story click on the attachment:  Nigeria seeks greater credit penetration through information sharing

Source:  The Guardian Nigeria