Nigerian Government to Link Credit Checks to National Identification Number (NIN) in Major Reform

The Nigerian government has announced plans to implement a policy mandating the linkage of Nigerians’ credit scores to their National Identification Numbers (NIN). This initiative aims to create an accurate, unified credit system by consolidating credit data from all financial institutions including banks, micro-lenders, and fintech companies into a centralized national credit bureau.

Uzoma Nwagba, Director General of the Nigerian Consumer Credit Corporation (CREDICORP), disclosed the policy during a press conference at the State House presidential villa. He described this move as a fundamental shift in how credit works in Nigeria, stating, “Your NIN becomes your financial anchor. Whether you’ve borrowed from a bank, micro-lender, or fintech, your record will be tracked and will carry consequences.” He warned that there will be “no hiding place” for loan defaulters.

The policy is designed not as a punishment but to promote financial discipline and reward responsible borrowing. Nwagba explained that consequences for defaulters will be structured and subtle, such as restrictions on renewing passports, driver’s licenses, or renting houses if outstanding debts are detected.

This reform aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, aiming to improve Nigerians’ quality of life, combat corruption, and stimulate economic growth by enhancing access to consumer credit. The government estimates that Nigeria will require about N183 trillion to effectively service consumer credit schemes.

Additionally, CREDICORP is launching a youth-focused credit program called YouthCred to empower young Nigerians, especially National Youth Service Corps members, with structured credit support.

The integration of credit scores with NIN is expected to increase transparency, reduce loan default rates, and build a comprehensive credit profile for every Nigerian, thereby improving access to affordable credit and fostering economic inclusion across the country.