The Federal Government of Nigeria is making a groundbreaking move to transform the Nigeria’s financial landscape by announcing the implementation of a unified credit system that links individuals’ credit scores to their National Identification Numbers (“NIN”). Led by the Nigerian Consumer Credit Corporation (“CREDICORP”), this initiative is aimed to redefine how creditworthiness is evaluated and accessed nationwide and the implication of chronic loan default or bad credit score on the affected person’s ability to renew international passport, driver’s licence, access to credit facility or mortgage or rental services. The announcement was made by Uzoma Nwagba, Managing Director of CREDICORP, during … Continue reading KORIAT’S FINTECH UPDATE: INTRODUCTION OF THE UNIFICATION OF THE CREDIT SYSTEM IN NIGERIA (JUNE 2025)