CBN to establish national credit scoring system

Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN), has re-emphasised the apex bank’s renewed stance against loan default in the country as he, again, on Wednesday announced plans to establish a national credit scoring system.

The national credit scoring system will basically enhance access to credit, he said.

Speaking at the 19th seminar for finance correspondents and business editors in Kaduna, Emefiele also restated that as a way of ensuring financial stability in Nigeria, the CBN would pursue a zero tolerance policy on fraudulent borrowers by enhancing credit bureaus.

The three days workshop organised by the CBN centred around ‘Rebasing of Nigeria’s Economy and the Implications for Financial System Strategy (FSS) 2020.’