Merit Ibe
The President, Nigerian Association of Small and Medium Enterprises (NASME), Prince Degun Agboade, has lauded the Credit Bureau Association of Nigeria (CBAN) for its effective use of technology.
Agboade made this statement during the 6th national conference of CBAN held to deepen the relationship of credit facilitators and customers.
He expressed joy over the improvement of the conference. Noting how technology was well used in this edition to advanced the conference.
Agboade described Micro, Small and Medium Enterprises (MSMEs) as the engine of economic growth and development, even as he urged the government to provide the necessary infrastructure to support entrepreneurs. He added that CBAN and NASME were partners of the conference. He said CBAN gives the loan, and NSME spends the loan. He also hinted that this conference was particularly strategic in reducing the numbers of unbanked business owners in Nigeria.”For Nigeria to grow it’s economy, it must maximise the value of all her human resources,including developing small businesses as well as finding out the limitations and ensure entrepreneurs are actively participant in economic development.
For her part the Chairman, CBAN, Mrs. Jameelah Sharrieff – Ayedun (and CreditRegistry’s Director), urged stakeholders at the event to further embraced
the information on MSMEs to promote their businesses as the association understand the challenges and is working to make things easier for everyone.
Jameelah, explained the mission to improve standards of living and expand wealth in the Nigeria economy through financial inclusion and access to credit.
She noted that lenders are credit bureaus’ direct customers. And how the success stories of the lenders depends on that of the borrowers as well.
“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 bureaus licensed by the Central Bank of Nigeria: CreditRegistry Plc, First Central Credit Bureau Ltd. And CRC Credit Bureau Ltd.”