Lagos: Central Bank of Nigeria Governor, Olayemi Cardoso, has called for a united continental effort to strengthen Africa’s credit system, stressing that collaboration among nations is vital to building a more resilient financial framework that supports growth, trade, and economic stability across the region.
Cardoso made the call on Friday in Lagos at the 2025 Africa Credit Expo, organised by CreditRegistry in partnership with Afreximbank.
The event, with the theme ‘Unlocking Africa’s Finance Story’, gathered financial leaders and innovators to examine solutions for bridging credit gaps across the continent.
It created an opportunity to advance credit intelligence, financial inclusion, and digital innovation, thereby aiding trade growth across Africa.
Cardoso, represented by Deputy Director Fidelis Odia, stated that a strong and efficient credit system remains central to achieving sustainable economic growth.
He said access to credit empowers entrepreneurs, strengthens small businesses, and supports the job creation needed for long-term economic stability.
He added that the apex bank had pursued structural reforms to strengthen Nigeria’s financial infrastructure and improve data-driven credit decisions.
Cardoso noted that the bank had upgraded technology to make credit more accessible, affordable, and inclusive for citizens and businesses.
He stated that building a resilient continental credit culture requires collaboration, trust, and active participation from all stakeholders.
Cardoso urged participants to pursue partnerships and develop innovative solutions that address Africa’s unique credit challenges.
He said the theme was timely as Africa works to turn its economic potential into practical and sustainable outcomes.
He added that it aligned with the CBN’s commitment to driving inclusive and ethical credit growth across the economy.
A credit expert, Mr Ayobamigbe Igbalajobi, stressed the need for individuals and firms to embrace structured credit to build stronger communities and economies.
He said the ‘buy now, pay later’ model could help citizens and small businesses access funds to improve their performance and stability.The exhibitors showcased a variety of products, with OxygenX Finance Company introducing a new loan application.
