Group Managing Director/CEO UBA Plc, Mr. Tony Elumelu has applauded the establishment of credit bureaus in Nigeria describing it as a historic milestone in the financial services sector in the country. ChairmanKing.com recently reported that Nigeria hopes to boost lending with the launch of three credit bureaus, namely Credit Reference Company (CRC), Credit Registry, and XDS Credit Bureau.
Tony Elumelu, whose goodwill address was delivered on his behalf by UBA’s Executive Director and Group Chief Finance Officer Mr. Victor Osadolor, at the launch of the Credit Reference Company (CRC) Credit Bureau Limited in Lagos recently, said the move represent a positive response to the problem of accurate lending in the banking sector.
According to him credit bureaus in the Nigerian market will engender a smooth coordination and cooperation among operators in the industry, ensuring transparency in the system, and providing accurate information and thus creating a conducive environment for the borrowers and lenders to transact business. Read the rest of this entry »
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