The Credit Bureau Association of Nigeria (CBAN) in collaboration with MSME Africa had a virtual programme on 27th September 2022 – the CBAN MSME Africa Business Webinar with the theme, “Your Credit Status Matters: MSME Interactive Session with Credit Bureaus.”
The programme was an interactive session that gave the participants the opportunity to ask questions related to their credit status which were ably addressed by the credit bureaus.
The programme was co-hosted by Dr. Jameelah Sharrieff-Ayedun, the Managing Director/CEO of CreditRegistry & CBAN Chairman and Mr. Seye Olurotimi, the Founder of MSME Africa.
After the welcome speeches given by the co-hosts, the Opening remarks was given by Chief Kola Akosile, the National Vice President & Chairman of NACCIMA and MSME/SDG Group, thanking the co-hosts for the initiative and encouraging full participation of the attendees.
The faculty members who handled the questions and answers session were as follows:
- Mrs. Vera Osuji, Senior Head, Sales and Business Development, CreditRegistry.
- Mrs. Mary Ohalete-Uwaoma, General Manager, Marketing & Business Development, FirstCentral Credit Bureau.
- Mrs. Peggy Chukwuma–Nwosu, Chief Commercial Officer, CRC Credit Bureau.
Some of the questions addressed at the programmes were as follows:
- What are the differences between Credit rating, Credit score and Credit Report?
- How can a person assess his/her eligibility status for accessing loans?
- How do you rectify a bad credit history?
- What are the five main activities MSMEs must begin and/or maintain to start building or maintaining a strong credit profile?
- What are the main challenges that MSMEs face in their pursuit of getting loans/credit facilities from financial institutions?
- How can MSMEs improve their creditworthiness to have better access to loans/credit facilities?
- How does credit rating affect business?
- If someone use my details to borrow money from Bank without my knowledge, how can your organization help me?
- What sort of support can MSMEs get from the credit bureaus to gain better access to credit?
- What is credit worthiness?
- Can an individual access loan without any business registration?
- Why is it too difficult to regularize credit bureau position immediately? It takes time even after full payment has been made.
After the questions and answers session, the individual credit bureaus had the opportunity to speak about their organizations and share their contact details.
The programme was concluded with a vote of thanks given by the Moderator of the programme, the Executive Secretary of the Credit Bureau Association of Nigeria.
