Oladimeji Peters: ….
Oladimeji Peters: “FirstCentral Credit Bureau is on a mission to professionally manage an independent world-class credit bureau” Search Categories Business (3) Client (4) Computing (1) Credit Score (3) Education (2) Enquiry Portal (1) Farmer (1) FCB (2) Finance (4) FirstCentral Blog (11) Loan (1) News (3) Nigeria (3) OECD (3) Office (1) Video (3) Work (1) Tags July 13, 2025 Oladimeji Peters: “FirstCentral Credit Bureau is on a mission to professionally manage an independent world-class credit bureau” Mr Oladimeji Peters has over 18 years of working experience in Business Development and Analytics both within and outside Nigeria. He is a graduate of Economics and holds an MBA from Durham University. He is a professional and associate member of various institutions, which includes Nigerian Institute of Management (NIM), Chartered Institute of Stockbrokers (CIS), Microsoft Corporation, Chartered Institute of Administration and Fraud Examiners (CIA) amongst others. He is currently the Managing Director/Chief Executive Officer of FirstCentral Credit Bureau Limited, Nigeria’s first and only independent credit bureau. Corporate Overview: FirstCentral Credit Bureau Limited is the only independent and first licensed credit bureau in Nigeria, “the company is on a mission to professionally manage an independent world-class credit bureau, develop and maintain a passionate, highly motivated human capital base, as well as providing dynamic cutting-edge credit information and risk management solutions. Our company specializes in offering comprehensive credit reporting services, risk analytics and other segment analysis report, that aids financial institutions, businesses, and individuals in sound informed credit decisions. Established with a commitment to corporate governance, integrity, team work, excellence in service delivery and dignity of the individual. Business Growth Strategies: Our sustained success is attributed to a multifaceted approach encompassing strategic partnerships, technological innovation, and a customer-centric focus. By continually investing in our people and technology, we ensure that our solutions meet the evolving needs of our clients, fostering long-term relationships and contributing to our growth. Performance and Objectives: We started off from a time without unique identifier in a huge ‘datapenia’ environment, and we sustainable developed a database with billions of credit records, we achieved a data six sigma standardization of no less than 99.6% data validity and accuracy that even regulators wanted to know how we achieved it. It’s delightful to mention that the performance has been good, but we never lose sight of our objective. It is the act of safeguarding the primacy of economic needs – and it begs the question, whilst crediting may sustain human lives in the short run, is it piloted in a sustainable fashion for the longer run? Purveyors of credit understand – that at the most rudimentary level – credit bears the risk of repayment/ default. Consequently, this risk ignites other dynamics such as asymmetric credit constrictions, selective allocations and other larger economic variables. The difficulty stems however from the credence of – should entities or people borrow money for any reason, be it investment or other human related needs, such borrowers will repay the lender without default of obligation or contest of rights in a manner that subjects the lender to a comparatively retrogressive position. Our objective is one of balance and sustainability- a proactive merger of needs without abdication of responsibilities for the involved parties. This essentiality has enabled the structure of a concrete system of credit reporting, credit scoring and other analytics that has improved performance of loan repayments and adherence to prior obligations. Statistically, this is obvious in reduction of non-performing loans (NPRs) and winding-up of financial entities over the years. We are consistently building and developing round the clock, with continuous monitor key performance indicators, adapting to market dynamics, and ensuring that our operations align with our strategic goals, resulting in a track record of success. Comparison of Professionals: Talent knows no borders, and we believe in nurturing the skills of our Nigerian professionals. While there may be variations in experience, we recognize the capabilities of our local talent pool. Our focus is on continuous professional development to ensure that our team delivers services that meet or exceed global international standards. Preserving a Moral and Ethical Environment: Upholding moral and ethical standards is paramount for First Central Credit Bureau. We actively engage in regular training, promote a culture of transparency, and have stringent policies in place to prevent ethical lapses. Continuous monitoring and reinforcement are integral to maintaining the highest standards of integrity across our organization. Landmark Accomplishments: Over the years, First Central Credit Bureau has achieved several milestones, including providing specific accomplishments, such as industry awards, technological advancements, data validation above industry standard and significant partnerships. These achievements underscore our commitment to excellence and innovation in the credit reporting sector.We appreciate the opportunity to share insights into our organization, and we remain dedicated to driving positive change within the industry. Read on: https://firstcentralcreditbureau.com/leveraging-credit-bureau-act-will-make/ Share: Twitter Facebook Linkedin Email FirstCentral Writer FirstCentral Writer is a passionate blog writer who specializes in business, finance and everything FirstCentral. With a knack for storytelling and a love for clear, engaging content, FirstCentral Writer brings fresh perspectives to every post. Drop a Comment
Experts Explain Gains Of Cashless Policy At FirstCentral’s Webinar
Experts Explain Gains Of Cashless Policy At FirstCentral’s Webinar Search Categories Business (3) Client (4) Computing (1) Credit Score (3) Education (2) Enquiry Portal (1) Farmer (1) FCB (2) Finance (4) FirstCentral Blog (11) Loan (1) News (3) Nigeria (3) OECD (3) Office (1) Video (3) Work (1) Tags February 5, 2025 Experts Explain Gains Of Cashless Policy At FirstCentral’s Webinar In the recent webinar organised by FirstCentral Credit Bureau – Experts from financial sector, mostly Fintechs, MFBs, Commercial Bank and Central Bank of Nigeria scrutinised the pros and cons of the cashless policy. FirstCentral Credit Bureau Limited, Nigeria’s only independent and first licensed Credit Bureau , well-known for its commitment to designing and deploying solutions that turn data into strategic tools for information and risk management, recently organised a webinar titled: ‘Harnessing the Benefits of Cashless Policy on Credit Allocation in a Developing Nation’ which had Experts from financial and fintech institutions throw their weight behind the cashless policies of the Central Bank of Nigeria, (CBN), highlighting the benefits of improved credit allocation on the country’s economy. The Managing Director, FirstCentral Credit Bureau, Mr Deji Peters in his welcome address asked participants to look forward to unlearning and relearning while focusing on the gains that the policy may bring from the experts who have come to speak at the webinar The Central Bank of Nigeria, (CBN), highlighting the benefits on credit allocation on the country’s economy during a webinar put together by FirstCentral Credit Bureau Limited titled: ‘Harnessing the Benefits of Cashless Policy on Credit Allocation in a Developing Nation’ stated that the benefits of the cashless economy would to a large extent reduce money laundry, reduce government revenue leakages and improve financial inclusion, amongst others. Haruna Bala Mustapha, Director, banking supervision department, CBN said the cashless policy is aimed at reducing and not eliminating the use of cash and encouraging the use of electronic channels for payment transactions in Nigeria. Mustapha who was represented by Adeniji Adekunle said the cashless policy which was introduced since 2012 in Lagos was later extended to five other States and FCT in 2013. He said the policy has since been reviewed and updated. He listed the impact of a cashless economy to include improved efficiency in payments, increased cost savings and improved transparency and accountability. Other benefits he mentioned are improvement in risk management and financial inclusion. Also speaking during the webinar, Ade Bajomo, president FintechNGR said one of the most significant impacts of the cashless economy is its impact on credit allocation whether it is SMEs, organisations, institutions, governments or individuals. Bajomo hinted that the current credit supply is not sufficient to address the needs of SMEs and therefore going cashless will avail institutions the financial records of SMEs, their sales and purchases amongst others to enable them make informed decisions. He mentioned economies that have succeeded and benefited from cashless policies to include Sweden, Norway, South Korea and the United Kingdom, adding that these countries also tackled challenges in their way to success. He said Nigeria is also facing similar challenges which include infrastructure challenges, security, data bridges and resistance to change amongst others in its way to achieving a cashless economy. “Transiting to a cashless society requires a lot of education but it is rewarding when successful. Emerging technologies such as block chain technologies have potential to transform the sector,” the FintechNGR president said. Ikemefula Nwachukwu, head, personal banking, First Bank of Nigeria, said challenges of digital lending in commercial banks include data security, regulatory compliance, integration with legacy systems and cost of acquiring digital solutions. Nwachukwu however noted that commercial banks can leverage digital lending by engaging in customer profiling and credit advisory. During his presentation on ‘Microfinance Banks Embracing Cashless Policy as a Tool for Financial Inclusion,’ Joshua Ukute, National President of National Association of Microfinance Banks in Nigeria said 38 million adults are financially excluded and 81 percent (30.8million) among them live in the rural area, while 19 percent (7.3million) live in urban areas. Ukute said 61 percent of the 38 million adults own phones and 24 percent use phones owned by others. He said among the 38 million adults, 25 percent are saving but 75 percent are not saving. He said there is an opportunity to tap into the 38 million adult market and provide services for them. Share: Twitter Facebook Linkedin Email FirstCentral Writer FirstCentral Writer is a passionate blog writer who specializes in business, finance and everything FirstCentral. With a knack for storytelling and a love for clear, engaging content, FirstCentral Writer brings fresh perspectives to every post. Drop a Comment
5 Ways to Improve Your Credit Score Today
5 Ways to Improve Your Credit Score Today Search Categories Business (3) Client (4) Computing (1) Credit Score (3) Education (2) Enquiry Portal (1) Farmer (1) FCB (2) Finance (4) FirstCentral Blog (11) Loan (1) News (3) Nigeria (3) OECD (3) Office (1) Video (3) Work (1) Tags BANKSFINANCEMARKETINGPREMIUMPROCESS February 5, 2025 5 Ways to Improve Your Credit Score Today Your credit score plays a significant role in your financial health. It can impact your ability to secure loans, get a mortgage, and even affect your insurance premiums. If your credit score isn’t where you’d like it to be, don’t worry! There are steps you can take today to start improving it. Here are five practical ways to boost your credit score. 1. Check Your Credit Report for ErrorsThe first step in improving your credit score is to check your credit report. You’re entitled to a free credit report from each of the major credit bureaus—Equifax, Experian, and TransUnion—once a year. Look for any inaccuracies or outdated information, such as late payments or accounts that aren’t yours. Dispute any errors you find, as they can negatively affect your score. 2. Pay Your Bills on TimeOne of the most significant factors in your credit score is your payment history. Consistently paying bills on time shows creditors that you’re a responsible borrower. Set reminders or use automatic payments to ensure you never miss a due date. If you’ve missed payments in the past, getting back on track can significantly help boost your score. Also Read; https://firstcentralcreditbureau.com/loan-apps-approved-digital-lenders-in-nigeria-swell-to-320-in-september-as-demands-for-credits-surge/ 3. Reduce Your Credit Card BalancesYour credit utilization ratio—the amount of credit you’re using compared to your credit limit—is another key factor that influences your credit score. A high credit utilization ratio can signal to lenders that you’re overextended. Aim to keep your credit utilization below 30%, and pay down your credit card balances as much as possible. This can give your score an immediate boost. 4. Avoid Opening New Credit AccountsWhile it might seem like opening a new credit account could increase your available credit and help your score, it can actually do the opposite. When you open a new account, it triggers a hard inquiry on your credit report, which can temporarily lower your score. Each new account also reduces the average age of your credit history, which can impact your score as well. Instead, focus on improving the accounts you already have. 5. Become an Authorized UserIf you have a family member or friend with a good credit history, ask if you can become an authorized user on one of their credit cards. As an authorized user, their positive payment history will appear on your credit report, potentially giving your score a boost. Just ensure the primary account holder has a solid track record of timely payments, as any negative activity will also reflect on your credit. ConclusionImproving your credit score is a gradual process, but taking these steps today can set you on the right path. Stay consistent with your efforts, and you’ll see the results over time. Remember, patience and discipline are key when it comes to boosting your credit score, but with the right strategies, you’ll be on your way to better financial health! Share: Twitter Facebook Linkedin Email FirstCentral Writer FirstCentral Writer is a passionate blog writer who specializes in business, finance and everything FirstCentral. With a knack for storytelling and a love for clear, engaging content, FirstCentral Writer brings fresh perspectives to every post. Drop a Comment
