Nomba and Globus Bank say they built a loan book with sub-1% defaults
- The FCCPC introduced fines for digital lenders using harassment for loan recovery in 2025.
- Nomba and Globus Bank's partnership disbursed ₦21.3 billion with less than 1% non-performing loans.
- NPLs in Nigeria's banking industry are projected to rise from 4.2% to 7% by the end of 2025.
The innovative credit model developed by Nomba and Globus Bank represents a significant shift in how lending can be approached in Nigeria, particularly in a challenging economic environment. However, the scalability of this model remains a concern, especially as it relies heavily on a narrow segment of businesses. Future discussions should focus on how to broaden access to credit while maintaining low default rates.
