The Federal Government, through the Nigerian Consumer Credit Corporation (CREDICORP), has unveiled a bold policy linking citizens’ credit scores to their National Identification Numbers (NINs). This initiative aims to curb rising non-performing loans, ₦546.02 billion as of a 2015 study—and foster a credit culture rooted in accountability.
Announced on June 17, 2025, this policy introduces a unified credit infrastructure that aggregates data from banks, fintechs, and microfinance institutions to generate comprehensive credit profiles for all Nigerians. According to CREDICORP MD Uzoma Nwagba, this system will use advanced algorithms to assess both financial and non-financial behaviors, ensuring “no hiding place for anyone.”
Defaulters may face restrictions on renewing passports, obtaining driver’s licences, and securing housing, making loan repayment a critical component of civic access. A new National Identity Card is also in the works to reflect this integration, reinforcing the NIN’s role as a gateway to financial and social services.
This development aligns with the Federal Government’s Renewed Hope Agenda, heralding a new era of financial inclusion, discipline, and structured consumer lending in Nigeria.
