Expert Seeks Stronger Credit Infrastructure To Sustain Digital Lending Growth

The chairman of the Money Lenders Association, Gbemi Adelekan, has called for stronger credit infrastructure and consumer education to sustain growth in Nigeria’s digital lending market.
Adelekan said that improved credit bureau systems, effective scoring and stronger consumer protection were critical.
He said increasing internet penetration, mobile payments, e-commerce and online banking are changing how Nigerians access financial services, driving demand for quick credit, especially among individuals and small businesses excluded from conventional financing.
He noted that Nigeria’s unbanked population has declined to 21 per cent from 36 per cent in 2020, while broadband penetratio...