Monday, June 23, 2025
Home Business CONSUMER CREDIT CBN, NIMC, OTHERS TO DEVELOP FRAMEWORK FOR CONSUMER CREDIT IN...

CONSUMER CREDIT CBN, NIMC, OTHERS TO DEVELOP FRAMEWORK FOR CONSUMER CREDIT IN NIGERIA ..

The Presidential Council on Industrial Revitalization has established a Technical Working Group with members from the Central Bank of Nigeria (CBN), the National Identity Management Commission (NIMC) and the Federal Competition and Consumer Commission (FCCPC) to develop a framework to enhance consumer credit in Nigeria.
Other members of the Technical Group were also drawn from the National Insurance Commission (NAICOM), the National Institute of Credit Administration (NICA), the Bank of Industry (BOI), and the Federal Inland Revenue Service (FIRS).
According to a statement released on by the Minister of Industry, Trade and Investment,  Doris Nkiruka Uzoka-Anite, the Committee has a five-month timeline to achieve its objectives.
The specific objectives of the Committee include increasing consumer credit uptake in Nigeria, enabling a sustainable credit system for the country in line with global best practices, and enhancing the supporting infrastructure (technology, data, financial institutions, global partners) to boost credit operations and equip players in the industry
RELATED ARTICLES

BOI UNVEILS SUSTAINABLE FINANCE FRAMEWORK FOR INCLUSIVE GROWTH.

The Bank of Industry has announced the launch of its Sustainable Finance Framework to drive inclusive and climate-resilient growth in Nigeria. In a statement the...

ECONOMIC GROWTH: FINANCE MINISTER ASSURES ON INCREASED INVESTMENT.

  The Honorable Minister of Finance and coordinating minister of the economy Wale Edun says the ministry is at its third phase to achieve a...

NIGERIA CUSTOMS DEEPENS INTEGRITY MEASURES AS ICPC DEPLOYS ETHICS COMPLIANCE TOOLS

In an effort to entrench a culture of transparency and strengthen ethical standards across its operations, the Nigeria Customs Service (NCS) received a high-level...

Most Popular

GENERAL NAFIU COUNSELS CORPS MEMBERS ON SAVINGS, INVESTMENT, PEACEFUL CO-EXISTENCE

  The Director General of National Youth Service Corps, Brigadier General Olakunle Nafiu has advised Corps Members to be prudent in their spendings and also...

BOI UNVEILS SUSTAINABLE FINANCE FRAMEWORK FOR INCLUSIVE GROWTH.

The Bank of Industry has announced the launch of its Sustainable Finance Framework to drive inclusive and climate-resilient growth in Nigeria. In a statement the...

ECONOMIC GROWTH: FINANCE MINISTER ASSURES ON INCREASED INVESTMENT.

  The Honorable Minister of Finance and coordinating minister of the economy Wale Edun says the ministry is at its third phase to achieve a...

GLOBAL OIL PRICE MAY SURGE PAST $150 PER BARREL AS IRAN’S PARLIAMENT APPROVES CLOSURE OF STRAIT OF HORMUZ .

  Iran’s parliament has approved the closure of the strategically crucial Strait of Hormuz, a vital waterway for global oil shipments, in a significant escalation...

Recent Comments