Use multiple credit bureaus to double your protection
Relying on a single credit bureau can leave gaps in how you assess borrower risk. By using multiple credit bureaus, lenders gain a more complete view of a borrowerâs financial behavior, helping to uncover inconsistencies, reduce blind spots, and improve decision accuracy. This layered approach not only strengthens fraud detection but also enhances confidence in credit decisions, making it a powerful strategy for lenders looking to protect their portfolio and lend more responsibly.
Frequently Asked Questions on FCCPC’s new consumer lending regulations
Below are answers to common questions from Lenders, compliance teams, and other stakeholders about FCCPC's DEON CL.
What are the problems associated with lending money in Nigeria?
Every day, thousands of Nigerian lenders wake up to face a market thatâs equal parts promising and precarious. The nationâs vast population, entrepreneurial spirit, and rapidly growing SME sector make it an attractive ground for credit services. Over 40 million MSMEs account for nearly half of Nigeria’s GDP, and many of these businesses rely on […]
