Everything to know about the Nigeria credit reporting act
Credit Laws

Everything to know about the Nigeria credit reporting act

This article provides an explanation of the Credit Reporting Act. It stays close to the law while focusing on how the provisions affect lenders in practice.

We built Lendsqr to innovate affordable credit for all
Company

We built Lendsqr to innovate affordable credit for all

At Lendsqr, our mission is to make credit accessible, affordable, and fair for all. In 2020, we pivoted to solve this problem, and by September, our first lenders were already reaping the benefits of cost-effective cloud lending at scale. We built a cloud lending ecosystem that goes beyond technology, offering powerful, automated features to streamline loan experiences and provide access to bank data that informs smarter lending decisions.

5 issues that lenders have with Nigerian credit bureaus
Industry Information

5 issues that lenders have with Nigerian credit bureaus

Before Nigerian credit bureaus were created, banks operated as lone wolves, reluctant to share credit information with third parties. They also didn’t have ways of knowing if a borrower had unpaid loans with other banks/financial institutions. As such, borrowers could easily secure multiple loans and cart away funds from different institutions without the lenders knowing. […]