DataPro Chief Says Credit Culture Key to Economic Revival

Amidst the push for the economic turnaround in Nigeria, the Chief Rating Officer of DataPro Limited, Mr.Oladele Adeoye, has stressed the need to accelerate the Credit Culture in Nigeria as a way of promoting economic growth.

He said that the Nigerian economy will grow faster if more MSMEs have better access to credit and more importantly know what to do to prepare themselves for accessing the capital market.

Speaking at the second edition of the company’s annual media training programme tagged, “Credit Rating and Investigative Journalism,’’ Oladele noted that the capital market is not about equities, shares and the stockbrokers alone.

“It is also the Debt Sub sector that provides a very veritable, viable and alternative funding channel for entrepreneurs and business owners,” he said.

According to him, poverty and unemployment in Nigeria can be greatly reduced if we become a producing country instead of one that is import-dependent.

In his presentation, Adeoye explained that the rating process is not an audit exercise but the analysis of the financial, business, management, regulatory and sustainability of an entity in order to determine its credit worthiness.

He noted that the role of the media should not be limited to reporting the news or advocacy issues alone but also about promotion of good corporate governance, ethical values and conduct that can positively impact business life and operations.

He nudged the media to provide timely and accurate information that can save the integrity of our financial markets through investigative journalism.