The Managing Director of CRC Credit Bureau Limited, Mr. ‘Tunde Popoola, has said that the company will work towards creating enabling environment that will improve access to credit in the country.
Poopola said in a statement made available to THISDAY in Lagos yesterday that CRC will among others Improve access to credit especially for consumers and small businesses; bring down the level of non-performing loans, receivable and collectibles as well as empower lenders to have access to quality customer information.
“We will bring down the cost of loans as processing time is shortened, and also assist in deepening credit penetration. CRC will be a social agent and help to create a healthy credit culture where borrowers become aware that the market rewards and sanctions them based on credit behaviour” he added.
Poopola traced the success story of the bureau, pointing out that the company is built on taking each sub sector in the lending industry one after the other.
“We started with the universal (commercial) banks and then quickly moved on to Primary Mortgage Institutions (PMIs) and Micro Finance Banks (MFBs). As at today, we have signed on 15 of the 24 universal banks representing 70 per cent coverage in terms of total risk assets, in the banking industry,” he said.
The CRC boss pointed out that the company has just commenced signing on MFBs and PMIs, adding that it has signed 10 MFBs and five PMIs. CRC business principles, he pointed out, are built around reciprocity, neutrality, efficient dispute resolution mechanism and high technical competence as well as security standard.