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Nigeria’s credit industry has grown significantly in recent years, reflecting stronger financial intermediation and reforms by the Central Bank of Nigeria (CBN). Credit to the private sector stood at ₦76–78 trillion in 2025, after expanding by over 27% year-on-year in 2024.
Prior to this Nigeria’s credit industry suffered from weak borrower information, poor risk management, high information asymmetry and limited transparency which led to its extremely high loan default rate.
Credit bureaus in Nigeria led by FirstCentral Credit Bureau, formerly XDS Credit Bureau as the foremost Licenced credit bureau in the country plays a central role in shaping responsible lending and financial inclusion in Nigeria. By providing reliable borrower information, enable risk-based pricing and reduce loan defaults, Improved transparency in a fast-growing digital lending sector, supports lenders compliance with CBN requirements, which mandates obtaining reports from at least two licensed bureaus before disbursing loans to its customers.
These activities of the credit bureau led by FirstCentral credit bureau has contributed to the growth in volume of credits and help the non-performing loans (NPL) rate nosedived from over 37.5% in 2010 to less than a single digit of 4.58% and reducing.
FirstCentral Credit Bureau, distinguished by its consumer-centric and innovative approach to credit reporting, through its FirstCentral Mobile App (Android & iOS) has made it easy for individuals and corporate to access their credit reports and scores, promoting financial literacy, transparency and inclusion.
FirstCentral Credit Bureau, is delighted to announce its 20th Anniversary Celebration alongside the inaugural Global Credit Connect Event – “Excellent Service”, scheduled for October 14–17, 2025.
This landmark gathering is designed to unite stakeholders across the global credit, financial and non-financial ecosystem, fostering dialogue, innovation, and collaboration that will shape the future of credit reporting and financial services.
Event Highlights
The celebration will open with a three-day virtual Certified Instructor-Led Professional Credit Service Management Masterclass based on ITSM/ITIL4, tailored to Credit/credit data management leveraging innovative technologies. The training will help participants learn practical skills to adapt credit service management practices to the modern lending organization’s dynamic, high-velocity environment. Build resilient credit systems and improve service quality and speed. This training will also assist our subscribers meet their competence requirement set by Regulators.
The grand finale, which is a physical event strictly-by-invitation, will hold in Lagos State on October 17, 2025. This finale will double as the official celebration of FirstCentral’s two decades of excellence service and innovation, featuring strategic sessions on Credit Risk Management and Cybersecurity Awareness. It will bring together financial technology companies, financial institutions, sponsors, partners, and customers from around the world.
Event Schedule
• Credit Service Management aligned to ITIL4 framework (Best Practice Framework)
– Date: October 14–16, 2025
– Time: 9am to 4pm daily
– Format: Virtual
• Grand Finale (Strictly by Invitation)
– Date: October 17, 2025
A Theme that Reflects Excellence
The theme, “Global Credit Connect Event – Excellent Service,” underscores FirstCentral’s unwavering commitment to building a seamless, interconnected global financial and non-financial community and to delivering exceptional service that fuels economic growth and financial inclusion.
“This 20th anniversary is more than a milestone; it is a testament to the trust our partners and customers have placed in us. The event will not only celebrate our journey but also serve as a platform for dialogue, collaboration, and knowledge sharing to shape the future of credit reporting and financial services.”
— Oladimeji Peters, MD/CEO, FirstCentral Credit Bureau Limited
Why Attend?
The event promises to be a pivotal moment for the industry, offering participants:
• Networking opportunities with key players in the financial ecosystem.
• Insights from thought leaders and industry experts.
• Meet regulatory requirement for competence development.
• Enhance individual and business performance.
• Collaborative platforms to discuss innovations and best practices.
• Celebration of collective achievements that have advanced financial services.
Interested CAC registered organisation and business can enrol to participate in this event by registering via the link below
https://www.eventbrite.co.uk/e/firstcentral-global-credit-connect-tickets-1630125913489?aff=oddtdtcreator
For more information and enquiries:
Visit: www.firstcentralcreditbureau.com.
Download the FirstCentral Mobile App from Apple App Store or Google Play Store to access credit services.
Follow us on social media: @FirstCentral Credit Bureau.
