The Nigerian government said it plans to roll out a policy that will mandate linking Nigerians’ credit scores to their National Identification Numbers (NIN).
The government stressed that the initiative is a move designed to establish an accurate credit system across the country.
The Director General of the Consumer Credit Corporation, Uzoma Nwagba, made this statement in a press conference at the State House presidential villa on Tuesday.
He said that the objective of the policy is to consolidate credit data from all financial institutions into a central national credit bureau.
According to him, the policy, when implemented, 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.
“There will be no hiding place,” he warned loan defaulters.
He added, “This is not about punishment. It’s about promoting discipline and rewarding financial responsibility.”
Earlier, Media Talk Africa reported that Nwagba said Nigeria will require N183 trillion to effectively service the consumer credit scheme.
Recall that President Bola Ahmed Tinubu, during his Democracy Day on June 12, 2025, said 100,000 Nigerians benefited from his administration’s consumer credit scheme.
