FG, CBAN can­vass for well-struc­tured credit re­port­ing sys­tem

Daily Trust - - BUSINESS -

The Fed­eral Govern­ment, through the Pres­i­den­tial En­abling Busi­ness En­vi­ron­ment Coun­cil (PEBEC) and the Credit Bu­reau As­so­ci­a­tion of Nige­ria (CBAN), has said that a well-struc­tured credit re­port­ing sys­tem will im­prove the ease of do­ing busi­ness in Nige­ria and ul­ti­mately lead to a quick re­cov­ery of the coun­try’s econ­omy.

This is part of the sub­mis­sions made at the 4th Na­tional Credit Re­port­ing Con­fer­ence or­gan­ised by CBAN in La­gos with the theme ‘Credit Bu­reau and Nige­rian Eco­nomic Re­cov­ery: Fa­cil­i­tat­ing the Ease of Do­ing Busi­ness’.

Mrs Funmi Ilamah, Re­form Leader, En­abling Busi­ness En­vi­ron­ment Sec­re­tar­iat (EBES)/ Pres­i­den­tial En­abling Busi­ness En­vi­ron­ment Coun­cil (PEBEC), rep­re­sented Dr Jumoke Odu­wole, the EBES Co­or­di­na­tor/Se­nior Spe­cial As­sis­tant to the Pres­i­dent (Of­fice of the Vice Pres­i­dent) at the con­fer­ence. She said the pres­i­den­tial-level ‘Ease of Do­ing Busi­ness’ re­form ef­forts demon­strated in clear terms the present ad­min­is­tra­tion’s readi­ness to sup­port the im­prove­ment of credit in­fra­struc­ture with all the po­lit­i­cal will avail­able.

She said ac­cess to credit was crit­i­cal to eco­nomic growth and con­sid­ered to be the mo­tor for driv­ing pri­vate sec­tor de­vel­op­ment, adding that re­gret­tably in Nige­ria more than 70 per cent of pri­vate en­ter­prises, typ­i­cally MSMEs, had no ac­cess to credit or had only very lim­ited ac­cess.

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