Nigeria’s lenders have dodged credit bureau reporting for years; Lendsqr just made it free
- Lendsqr partners with CreditRegistry and CRC Credit Bureau to automate loan reporting for digital lenders.
- The partnership waives the cost of loan reporting for licensed lenders using Lendsqr.
- Automated reporting ensures compliance with Central Bank of Nigeria regulations.
The partnership between Lendsqr and the credit bureaus represents a significant step towards improving the credit landscape in Nigeria. By automating loan reporting and removing cost barriers, it not only enhances accountability but also promotes inclusivity for smaller lenders. This could lead to a more robust lending ecosystem, but its success will depend on widespread adoption and consistent reporting practices.
