07 Feb
THE PUNCH: NIGERIANS IN DIASPORA CAN ENJOY UNINTERRUPTED ACCESS TO LOANS
In this interview with FEYISAYO POPOOLA, the Chief Executive Officer, CRC Credit Bureau, Mr. Tunde Popoola, says Nigerians in Diaspora can now access loans immediately they arrive in a foreign country
Did the CRC play any role in facilitating the online application of loans?
Yes, we did. We introduced something called a credit score. Before now, banks used to lend using haphazard selection, which is selected based on emotions, not on any profile. So, they made wrong judgments; granting loans when they should have declined and declined when they should have granted.
There were also incidents of serial defaulters; someone taking a loan from bank A and going to bank B to take another loan and use that one to pay bank A.
