The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has emphasised the need for collaboration to build a robust credit system that fosters economic development and empowers citizens.
Cardoso made the remarks on Friday at the 2025 Africa Credit Expo (ACE) in Lagos, organised by CreditRegistry in partnership with Afreximbank.
The event, themed “Unlocking Africa’s Finance Story,” brought together financial leaders and innovators to explore solutions for bridging credit gaps across the continent.
Represented by CBN Deputy Director Fidelis Odia, Cardoso stressed that a strong and efficient credit system is central to sustainable economic growth.
He noted that access to credit strengthens small businesses, empowers entrepreneurs, and supports job creation essential for long-term economic stability.
He highlighted the apex bank’s structural reforms aimed at improving Nigeria’s financial infrastructure and enabling data-driven credit decisions.
Cardoso further noted that upgraded technology is making credit more accessible, affordable, and inclusive for both citizens and businesses.
“Building a resilient continental credit culture requires collaboration, trust, and active participation from all stakeholders,” he said.
The minister urged participants to pursue partnerships and develop innovative solutions tailored to Africa’s unique credit challenges.
At the event, credit expert Mr. Ayobamigbe Igbalajobi underscored the importance of structured credit for individuals and businesses.
He noted that models such as buy now, pay later could help small businesses access funds to improve performance and stability.
Exhibitors, including OxygenX Finance Company, showcased innovative products such as new loan applications aimed at expanding financial inclusion.
The expo provided a platform to advance credit intelligence, financial inclusion, and digital innovation, reinforcing the role of the financial sector in supporting trade and economic growth across Africa.
