A Credit Bureau In Nigeria

XDS Solutions to set up credit bureau

XDS Solutions Limited has concluded plans to introduce a credit bureau to provide wider access to credit in the country.


Disclosing this to newsmen in Lagos recently, Managing Director, XDS Solutions, Mr. Ubong Awah said that the company was a risk solution company fostering on developing products and services that turned data in strategic information to ease the burden of credit and risk management.

Awah noted that Nigeria had done a lot in the past to eradicate the scourge of poverty and empower the people to be self sustaining but much had not been achieved because of this missing link in the financial architecture.

He added that the credit information bureau would bridge the information gap that existed when there was need for credit especially in project finance by tracking the financial behaviour of individuals over a period of time.

He also stressed that once such gap was bridged, our people would move from the state of despondency to helping ourselves.

Awah said that the credit bureau would among others things under guard the financial system and help ensure sound financial sector, because it will reduce loads in the system. "The behaviour records of such individuals would be made available to the financial institution, thereby bridging the information gap and building trust between the parties in the transaction," he said.


courtesy of The Guardian



It's about time!