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Nigeria's first credit bureau to be launched today
Tue, 04 Aug 2009 04:05
TradeInvestNigeria Staff


XDS Credit Bureau Limited, Nigeria’s first licensed credit bureau, will today be formally launched in Lagos.

This Day reports the Central Bank of Nigeria (CBN) granted XDS final licence to operate as a credit bureau in June 2009.

XDS had to pass rigorous requirements set by the CBN in order to qualify for the licence. These requirements include sufficiency of equity, governance structure, expertise of operational staff and internal controls.

According to its website, XDS's vision is to:

  • establish and professionally manage an independent, world class credit bureau;
  • build and maintain highly developed and motivated human capital; and
  • provide proactive, value-adding information and risk management solutions to businesses and organisations.

    The company leverages on the extensive involvement of its technical partners, Xpert Decision Systems (XDS) Pty Limited of South Africa in start-up credit bureau projects in making available to the Nigerian market, a suite of innovative and user-friendly information and credit management solutions. It is the operator of one of the three major consumer credit bureaux in South Africa.

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