CRC Boss Delivers Inaugural Collaborative Lecture At KWASU, Seeks Stronger Credit System

The Managing Director and Chief Executive Officer of CRC Credit Bureau Limited, Dr. Ahmed ‘Tunde Popoola, has called for the strengthening of Nigeria’s credit ecosystem to unlock economic opportunities, as he delivered the inaugural Collaborative Lecture at Kwara State University (KWASU), Malete.

The lecture, titled “Finance, Entrepreneurship, and the Infrastructure of Trust,” brought together academics, policymakers, and financial sector leaders at the university’s lecture hall. It also marked the first joint initiative between the Faculty of Management and Social Sciences (FMSS) and the Centre for Advancement and Industrial Collaboration (CAIC).

Among dignitaries present were the Vice Chancellor of KWASU, Prof. Shaykh-Luqman Jimoh, and the Vice Chancellor of University of Ilorin (UNILORIN), Prof. Wahab Olasupo Egbewole, alongside senior academics, students, and industry executives.

In his lecture, Popoola emphasised the critical role of credit in driving economic development, describing it as a foundational tool for growth.

“Credit is not just about borrowing. It is the infrastructure of opportunity, a bridge that connects where you are today to where you have the potential to be. Nigeria has institutions. We must now build the data ecosystem to unlock them,” he said.

The event also signalled the operationalisation of a Memorandum of Understanding (MoU) signed in January 2026 between CRC Credit Bureau and KWASU, aimed at bridging the gap between academic research and financial industry practice. Under the partnership, the bureau will provide anonymised credit data to support research and evidence-based policy development on access to finance.

Speaking at the event, KWASU VC, Prof. Jimoh, described the collaboration as a milestone for the institution.

“KWASU is delighted to host Dr. Popoola for this landmark lecture. The collaboration between our university and CRC Credit Bureau, the largest credit bureau in Nigeria, is a model for how academia and industry should work together to solve Nigeria’s most pressing development challenges. Access to finance is not merely an economic issue, it is a social justice issue,” he said.

Similarly, Prof. Egbewole of UNILORIN stressed the importance of cross-sector partnerships in preparing graduates for the evolving economy.

“The University of Ilorin is proud to be represented at this pioneering event. Collaborative platforms between universities and financial institutions are essential to equipping our graduates with the skills and knowledge to participate meaningfully in Nigeria’s evolving digital economy,” he noted.

Popoola, in his analysis of Nigeria’s credit landscape, highlighted the country’s low credit penetration, which he put at about 13 per cent of GDP, compared to a global average of 91 per cent and a Sub-Saharan African average of 30 per cent. He also pointed to a significant SME financing gap estimated at $32.3 billion.

He underscored the growing role of technology and data in improving access to finance, citing innovations such as Open Banking, artificial intelligence-driven credit scoring, and alternative data models.

Central to his lecture was the concept of the “Infrastructure of Trust,” which he described as an integrated system comprising financial institutions, identity frameworks such as BVN and NIN, credit bureaus, rating agencies, payment systems, collateral registries, and regulatory structures.

According to him, while government credit interventions have had limited success, sustainable access to finance must be anchored on strong, market-driven financial systems supported by reliable data.

Popoola also highlighted the achievements of CRC Credit Bureau, noting that the organisation now maintains credit profiles for over 60 million Nigerians and has significantly deepened credit bureau penetration from less than five per cent in 2009 to over 40 per cent.

He added that improvements in credit reporting have contributed to increased private sector lending and a decline in non-performing loan ratios in recent years.

Reinforcing his message, he urged individuals and businesses to build credibility through responsible financial behaviour, stressing that digital and transactional data increasingly determine creditworthiness.

He also called on policymakers to establish a unified national framework for access to finance, strengthen identity systems, and promote broader data sharing while ensuring strict compliance with data protection regulations.

Popoola further encouraged academics to leverage available data for research and policy evaluation, while advising entrepreneurs to adopt formal financial systems and deliberately build their credit profiles to improve access to funding.