The Federal Government has announced plans for Credit-NIN integration, a policy that will tie Nigerians’ credit scores to their National Identification Numbers (NIN).
This reform was spearheaded by the Nigeria Consumer Credit Corporation (CrediCorp).
It was gathered that the Credit-NIN integration is aimed at creating a unified, transparent, and accountable credit system that holds every citizen financially accountable.
Announcing the development at a State House media briefing in Abuja, Tuesday, Managing Director of the Nigerian Consumer Credit Corporation, Uzoma Nwagba, said the initiative aims to consolidate credit data from all financial institutions, banks, fintechs, and microfinance providers into a central national credit bureau.
“This marks a fundamental shift in how credit works in Nigeria. Your NIN becomes your financial anchor. Whether you’ve borrowed from a bank, micro-lender, or fintech, your record will be tracked and will carry consequences,” Nwagba stated.
He warned that loan defaulters will soon face tangible consequences, including difficulty renewing passports, driver’s licenses, or securing housing.
He continued: “There will be no hiding place. This is not about punishment. It’s about promoting discipline and rewarding financial responsibility.
“The goal is simple: every Nigerian must have a credit score. Access to economic opportunities will be tied to how you manage your finances.
“This isn’t just about credit. It’s about giving people access to better lives. When people lack the capital to meet their needs, they may resort to unethical practices. We’re changing that.”
