Guidelines for the Licensing, Operations and Regulation of Credit Bureau

Nigeria

(enacted in 2008)

The Guidelines for the Licensing, Operations and Regulation of Credit Bureaus in Nigeria were issued by the Central Bank of Nigeria (CBN) in 2008.

These guidelines discuss:

  • Ownership and management of credit bureau;
  • Licensing requirement of credit bureau;
  • Operational procedures of credit bureau;
  • Dispute resolution;
  • Opening and closing of credit bureau offices;
  • Submission of returns and annual accounts to the CBN;
  • Compliance with guidelines;
  • Dissolution, liquidation and revocation of license; and
  • Role of the existing CBN credit risk management system.