12 February 2019

Nigerians to Access N10bn Credit From CreditRegistry, Others

Nigerians can now access about N10 billion credit pledged by CreditRegistry, Access Bank and First Bank of Nigeria.

The Managing Director/Chief Executive Officer, CreditRegistry, Mrs. Jameelah Sharrief-Ayedun, disclosed this at a corporate cocktail party organized by Credit Registry in Lagos.

Ayedun, in her opening remarks, said that both tier-1 banks pledged N5 billion each as credit, adding that the N10 billion credit can only be accessed by good borrowers in the country.

She stated: "We have made a call to action. Fortunately we have been able to raise about N10 billion in pledges from two of our financial institutions, First Bank of Nigeria and Access Bank and that pledge is going to continue to grow. Our job as a credit registry is to ensure we find those good buyers and connect them to those lenders that are ready to give them credit. The cost of percentage of those loans and the criteria of those loans will still be determined by the banks because they will be getting credit worthy buyers that they will be able to consider much quickly.

"Our job is to be able to help each and every one of the people in Nigeria who are interested in getting access to credit to get fast easy access to credit and that means we have to be able to determine if they have the power and if they are the kind of people who will take a loan and be able to honour their obligations. If they are doing that consistently, more would be unveiled to them through power business. We enable for credit worthy people to get loans through our partners."

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