Credit Bureau Association of Nigeria | Credit Bureau Information
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Credit Bureau Information and FAQs

What is a credit bureau?

A credit bureau is an agency that collects and maintains individual credit information and sells it to lenders, creditors, and consumers in the form of a credit report. The bureau compiles information on individuals and business entities regarding their credits, repayment, etc. and then creates a comprehensive credit record that may be made available to lending institutions and other users.

What services does a credit bureau provide?

The primary product of a credit bureau is a credit report. However, a credit bureau may provide additional products and services that leverage the predictive powers of the credit information it holds.


Without information from a credit bureau, creditors typically must impose an additional risk premium prior to giving loans. The subsequent higher loan fees and interest rates can put undue pressure on business profitability, which frequently leads to higher rates of default.


The information that credit bureaus provide enable creditors to be proactive in preventing debt problems, even for existing account holders.

Are there credit bureaus in Nigeria?

Yes. There are three credit bureaus in Nigeria. They are:


XDS Credit Bureau

Address: 14 Sumbo Jibowu Street, SW, Ikoyi, Lagos

Telephone: 0817 837 7643



CRC Credit Bureau Limited

Address: 2nd floor, 26 McCarthy Street, Onikan, Lagos

Telephone: 01 628 3900, 01 628 3901



CreditRegistry Services (Credit Bureau) Plc

Address: Plot 319 Akin Ogunlewe Street, Off Ligali Ayorinde Street, Victoria Island, Lagos

Telephone: 01 454 8700, 0700-CREDITBUREAU


Are credit bureau activities regulated?

Yes, In October 2008, the Central Bank of Nigeria (CBN) issued Guidelines for the Licensing, Operation & Regulation of Credit Bureaus in Nigeria under Section 57 of the CBN Act No. 7 of 2007. This was revised and circulated in November 2013.

What kind of report will the bureau provide if i have never been active in the credit market?

Your report will indicate this fact and provide demographic information only if available as your name, address, contact details etc., which will be helpful in KYC.

What are the benefits of using credit bureaus?

Access to finance is a fundamental prerequisite for successful operation of any business whether small, medium or large. Credit Bureaus are identified internationally as a financial infrastructure capable of assisting in providing credit worthy information with a view of assisting lenders in taking informed decisions about their borrowers.


Credit bureaus enhance reliance on reputational collateral than on physical collateral. Therefore, it eases the chances of access to credit for consumers and businesses with impeccable historical repayment records.


Credit Bureaus help you discover if anyone made unauthorized purchases or has stolen your identity to access your bank accounts or open other lines of credit in your name.

What is a credit report?

It is a report generated by the Credit Bureau and contains demographic and credit information on an individual including:


  • Name
  • Address/Contact details
  • Other identifying information unique to the individual – e.g. National Identity Number, BVN, date of birth etc.
  • Credit Score
  • Type of Credit account(s)
  • Terms of credit including original debt and balance outstanding
  • Credit payment profile
  • Other public records
What is a credit score?

A credit score is a three-digit numerical value representing a borrower’s credit worthiness based upon statistical analysis of the data found on the credit reports. The score represents what is called rank-ordering of risk in any population and is far more statistically objective than judgmental evaluations.

Who uses credit information report?

The primary users of credit information report include creditors, such as banks, mortgage finance companies, leasing agencies, insurance companies, micro-finance and SME lenders, asset management companies and other businesses that provide services to consumers on credit, including landlords, telecom and utility service providers. Additionally, because of other intrinsic characteristics of credit information, employers, for example, may use information from a credit bureau to predict employee reliability, while insurers may use credit bureau information to determine insurance risk for prospective policyholders.

Where does credit bureau information come from?

The information in a credit bureau comes primarily from creditors. However, a credit bureau may augment its information with those from the public domain, such as information from court judgments, bankruptcies and – in the case of businesses – supplier information, balance sheet and cash flow information, etc.

How is a credit report used?

It is important to understand that a credit report does not instruct a creditor to approve or deny credit. Rather, a credit report assists creditors with assessing the risks posed by the obligor that is the subject of the report. That is, if the credit history in the credit report shows a pattern of frequent defaults, the creditor, according to its own internal risk rules for the specific loan product, may classify the obligor as high risk and, thus, highly likely to default. On the other hand, a credit report that shows a pattern of timely payments may enable a creditor to classify the obligor as not likely to default. Of course, creditors use additional pertinent information to determine risk, such as the obligor’s income or cash flow, total outstanding credit obligations, length of employment or business history, etc. Ultimately, the decision to grant or deny credit remains with the creditor.

What are the benefits of having a good credit report?
  • Lower interest rates
  • Higher credit score
  • Ability to obtain credit without collateral or with reduced collateral
  • Ability to acquire capital intensive items such as houses, cars and household goods without saving up for extended periods to pay cash
  • Earning a reputation of being a responsible person
How can i get a good credit report?

You build a good credit report by:


  • Paying your debts as at when due
  • Being truthful with any information supplied when applying for credit
  • Taking credit responsibly
How do i order my credit report?

To order your personal or business credit report, please visit any credit bureau of your choice listed below and make a request or go to the website address of any credit bureau of your choice and follow the instructions outlined.


XDS Credit Bureau



CRC Credit Bureau Limited



CreditRegistry Services (Credit Bureau) Plc


Can anyone else access my information?

No one other than entities allowed under the Central Bank of Nigeria and which have been registered with the Credit Bureau (authorized entity) may access any information.

Is my consent required before anyone can access my information?

Authorized entities may only request data from a Credit Bureau if it holds your prior consent.

How can i build a healthy credit history?

Credit history is generally defined as the record of a borrower’s payment behavior that shows his or her ability to repay a loan. It also includes information about late payments and bankruptcy. The significance of credit history lies in the fact that it acts as an important parameter for approval of loans by banks and financial institutions. A healthy credit history is in fact an intangible asset created by an individual which remains a life-long companion. In an era when credit bureaus are growing and influencing credit decisions of banks and financial institutions, it is important to maintain a healthy credit history. Even if we ignore the need for a good credit history exclusively for the purpose of borrowing, building a good credit history still remains important as credit behavior shows our approach towards managing our expenses and building a strong financial base.


While building healthy credit history is important, it is also important to know how to build a healthy credit history. The following steps are extremely important in building healthy credit, which we must follow.


Cut your cloth according to your coat.

This old saying can act as a panacea for overcoming any issue in credit history. The saying gives a very important message which is, one should never borrow more than the ability to pay back the loan.


Check Your Credit History

It is suggested that every individual should check his/her credit history by obtaining credit report from credit bureaus. The reports from credit bureau carry details of your credit history. Though the reports come at a cost, it makes sense to go for these reports. If anything adverse is found in the credit history, you should try to resolve the issue found in the credit history rather than ignoring the discrepancies. Also check your own credit report, as it helps you to avoid any last minute surprises which can come your way when you go and borrow from a bank.


Pay Bills on Time

Once you become eligible for a credit facility, endeavor to pay each installment promptly and in full. To make sure you actually repay, don’t borrow too much, only charge on your account the amount you can actually repay.

What to do if you have any issue in your credit report?

If you have any issue with your credit report, please send a formal notification of the issue by visiting the website address of the credit bureau and sending a mail stating what the issues are.

What you need to access your credit report from any of the credit bureaus?

Please go to the website address of any credit bureau of your choice, make a request for your credit report and a list of requirements needed to access your credit report will be provided.

Who is Credit Bureau Association of Nigeria (CBAN)?

Credit Bureau Association of Nigeria is a Business management organization formed to promote credit reporting culture towards the expansion of Nigeria’s economy.



Credit Information for Wealth Creation



Promote the use of credit information, access to finance and the success of members and stakeholders through advocacy and capacity building.


Why CBAN was formed

  • To create a platform to protect the interest of credit bureaus.
  • To articulate and promote policies and regulations favourable to the lending industry in particular and the financial and banking industry in general.
  • To proactively monitor developments relating to the promulgation of laws and issuance of regulations that have bearing on the credit bureau industry.



  • XDS Credit Bureau
  • CRC Credit Bureau Limited
  • CreditRegistry Services (Credit Bureau) Plc



  • Mobolanle Adesanya MD/CEO, XDS Credit Bureau Limited
  • ‘Tunde Popoola MD/CEO, CRC Credit Bureau Limited
  • Glenda Labinjo MD/CEO, CreditRegistry Services (Credit Bureau) Plc


Contact Details