CBAN seeks robust eco-financial system for lenders, borrowers

Merit Ibe

The Credit Bureau Association of Nigeria (CBAN) said it is seeking to deepen the relationship of credit facilitators and customers, through its National Credit Reporting Conference.

Chairman of CBAN and the Credit Registry’s Director, Mrs. Jameelah Sharrieff -Ayedun, who made the disclosure during a press conference, said the 6th edition of the conference, with the theme: ‘Deepening Financial Inclusion: Credit Opportunities for MSMEs and Consumers,’ will take place on Friday in  Lagos.

Sharrieff -Ayedun, said activities at the event would aid the  association to further embrace all key-players of borrowers and lenders alike and enhance a more robust eco-financial system that effectively serves all stakeholders.

She stated that the association was on a mission to improve standards of living and expand wealth in the economy through financial inclusion and access to credit. At the conference, she said a full day would be dedicated to customers, adding that lenders are credit bureaus’ direct customers, as such , the success stories of the lenders depend on the borrowers.

“We will educate, expatiate, elevate and celebrate each other on November 1. Credit Bureaus are agencies which collect and share information about the creditworthiness of individuals and businesses. Credit bureaus have been in existence for over a century in many countries around the world. Likewise, in Nigeria, private credit bureaus exist.

“They were first established in 2003 (just 16 years ago) by Mr. Taiwo Ayedun and today, there are now three national credit bureaux licensed by the Central Bank of Nigeria: CreditRegistry Plc, First Central Credit Bureau Ltd. And CRC Credit Bureau Ltd.”

She added that unlike other years when the bureau’s focus was on lenders, the conference will be dedicated to  people that keep the lenders in business, the small and medium size business owners, the regular Joe on the streets of the country who needs the much – required but somewhat elusive credit to either start a business or improve their quality of life.