Only 10% of Nigerian Adults Have Access To Formal Credit — Experts

Only about 10 per cent of adult Nigerians have access to formal credit despite strong demand, a situation driven by lack of collateral, informality and absence of credit history.
This was disclosed by executives of Zitra Investments at a media parley briefing marking the company’s sixth anniversary.
At the briefing, the company’s leadership reflected on Zitra Investments’ growth over the past six years, highlighting key milestones, its commitment to financial inclusion and its strategic priorities for the future.
The managing director, Mr Tunde Obadero said the firm’s focus on small businesses stems from their role as the heartbeat of commerce and enterprise in Nigeria, but noted th...