• Sunday, February 25, 2024
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Oladimeji Peters: “FirstCentral Credit Bureau is on a mission to professionally manage an independent world-class credit bureau”


Mr Oladimeji Peters has over 18 years of working experience in Business Development and Analytics both within and outside Nigeria. He is a graduate of Economics and holds an MBA from Durham University. He is a professional and associate member of various institutions, which includes Nigerian Institute of Management (NIM), Chartered Institute of Stockbrokers (CIS), Microsoft Corporation, Chartered Institute of Administration and Fraud Examiners (CIA) amongst others.

He is currently the Managing Director/Chief Executive Officer of FirstCentral Credit Bureau Limited, Nigeria’s first and only independent credit bureau.

Corporate Overview:

FirstCentral Credit Bureau Limited is the only independent and first licensed credit bureau in Nigeria, “the company is on a mission to professionally manage an independent world-class credit bureau, develop and maintain a passionate, highly motivated human capital base, as well as providing dynamic cutting-edge credit information and risk management solutions.

Our company specializes in offering comprehensive credit reporting services, risk analytics and other segment analysis report, that aids financial institutions, businesses, and individuals in sound informed credit decisions. Established with a commitment to corporate governance, integrity, team work, excellence in service delivery and dignity of the individual.

Business Growth Strategies:

Our sustained success is attributed to a multifaceted approach encompassing strategic partnerships, technological innovation, and a customer-centric focus. By continually investing in our people and technology, we ensure that our solutions meet the evolving needs of our clients, fostering long-term relationships and contributing to our growth.

Performance and Objectives:

We started off from a time without unique identifier in a huge ‘datapenia’ environment, and we sustainable developed a database with billions of credit records, we achieved a data six sigma standardization of no less than 99.6% data validity and accuracy that even regulators wanted to know how we achieved it. It’s delightful to mention that the performance has been good, but we never lose sight of our objective. It is the act of safeguarding the primacy of economic needs – and it begs the question, whilst crediting may sustain human lives in the short run, is it piloted in a sustainable fashion for the longer run?

Purveyors of credit understand – that at the most rudimentary level – credit bears the risk of repayment/ default. Consequently, this risk ignites other dynamics such as asymmetric credit constrictions, selective allocations and other larger economic variables.

The difficulty stems however from the credence of – should entities or people borrow money for any reason, be it investment or other human related needs, such borrowers will repay the lender without default of obligation or contest of rights in a manner that subjects the lender to a comparatively retrogressive position.

Our objective is one of balance and sustainability- a proactive merger of needs without abdication of responsibilities for the involved parties.

This essentiality has enabled the structure of a concrete system of credit reporting, credit scoring and other analytics that has improved performance of loan repayments and adherence to prior obligations. Statistically, this is obvious in reduction of non-performing loans (NPRs) and winding-up of financial entities over the years. We are consistently building and developing round the clock, with continuous monitor key performance indicators, adapting to market dynamics, and ensuring that our operations align with our strategic goals, resulting in a track record of success.

Comparison of Professionals:

Talent knows no borders, and we believe in nurturing the skills of our Nigerian professionals. While there may be variations in experience, we recognize the capabilities of our local talent pool. Our focus is on continuous professional development to ensure that our team delivers services that meet or exceed global international standards.

Preserving a Moral and Ethical Environment:

Upholding moral and ethical standards is paramount for First Central Credit Bureau. We actively engage in regular training, promote a culture of transparency, and have stringent policies in place to prevent ethical lapses. Continuous monitoring and reinforcement are integral to maintaining the highest standards of integrity across our organization.

Landmark Accomplishments:

Over the years, First Central Credit Bureau has achieved several milestones, including providing specific accomplishments, such as industry awards, technological advancements, data validation above industry standard and significant partnerships. These achievements underscore our commitment to excellence and innovation in the credit reporting sector.
We appreciate the opportunity to share insights into our organization, and we remain dedicated to driving positive change within the industry.