September 30, 2025 | Lagos, Nigeria – Lendsqr, the global Lending-as-a-Service (LaaS) platform powering digital credit for banks, fintechs, and non-bank lenders, has announced a strategic partnership with CreditRegistry and CRC Credit Bureau to make loan reporting free and automated for lenders in Nigeria.
Credit reporting has always been the backbone of responsible lending, but in practice it has been one of the hardest things for lenders to do. From the additional cost of registration, to the complexity of monthly reporting, to the technical challenge of integrating with multiple systems, many lenders have simply opted out. The result is a credit market where borrowers who default often face no consequences and can easily take out new loans elsewhere.
“In lending, accountability doesn’t happen by chance; it happens because lenders report consistently to the bureaus.,” said Adedeji Olowe, CEO of Lendsqr. “But for too long, lenders have struggled with the cost and complexity of the process. By working hand in hand with CreditRegistry and CRC, we’ve taken those barriers away. Any lender on Lendsqr can now report automatically and keep borrowers accountable without lifting a finger.”
With this partnership, every licensed lender using the Lendsqr platform now gets direct access to CreditRegistry and CRC reporting at no extra cost. Reporting will also be fully automated through Lendsqr’s infrastructure, ensuring lenders stay compliant with Central Bank of Nigeria and other regulatory requirements that every loan must be reported to at least 2 credit bureaus.
Why this matters for Nigerian lenders
Microfinance banks, cooperatives, and money lenders make up a large part of Nigeria’s credit ecosystem, yet most operate without connecting to all the country’s credit bureaus. This has left gaps that bad borrowers exploit. By making credit bureau reporting simple and free, Lendsqr, CreditRegistry, and CRC are putting lenders back in control and strengthening the credit system for everyone.
“This partnership wouldn’t have been possible without the commitment of both credit bureaus,” Olowe added. “They have shown that putting the ecosystem first matters more than anything else, and that’s the kind of leadership the industry needs.”
About Lendsqr
Lendsqr is a global Lending-as-a-Service (Laa) company working with financial institutions of all sizes to move their lending operations online. With scalable, API-driven technology, Lendsqr combines solid technical know-how with a clear understanding of how lending really works in emerging markets. The result is that lenders can deliver credit more efficiently and reach more people who would otherwise be left out.
The platform gives lenders multiple ways to connect with borrowers, whether through mobile apps on Android and iOS, web applications, or APIs that link directly with partners like credit bureaus, payment providers, and KYC services. This flexibility makes it easier to serve both connected urban borrowers and customers in communities where internet access is limited.
At the center of the platform is a decision engine that blends bureau data with customizable scoring models to help lenders manage risk and make better credit decisions. Lenders can set up different types of loan products, from personal loans to SME financing with options for equity contributions, guarantors, and even manual bookings for borrowers without internet access.
With a free trial and pricing that scales as lenders grow, Lendsqr makes it possible to launch quickly, expand sustainably, and build loan offerings that meet real customer needs.For more information, visit lendsqr.com or contact marketing@lendsqr.com.
