The Nigerian government to link entire borrowing history to your NIN
- The Nigerian government announced a unified national credit system linking credit scores to National Identification Numbers (NIN).
- Uzoma Nwagba, Managing Director of CREDICORP, emphasized the transformative potential of the new credit system during a press engagement.
- All financial institutions, including banks and fintechs, are required to report citizens' credit histories linked to their NIN.
The introduction of a unified national credit system in Nigeria is a significant step towards enhancing financial inclusion and accountability. However, it raises concerns about privacy and the potential for misuse of personal data. Ongoing dialogue among stakeholders will be crucial to address these issues and ensure the system benefits all citizens.
