FirstCentral Credit Bureau and NELFUND ….
FirstCentral Credit Bureau and NELFUND Partner to Empower Nigerian Students 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 FirstCentral Credit Bureau and NELFUND Partner to Empower Nigerian Students FirstCentral Credit Bureau and the Nigerian Education Loan Fund (NELFUND) have announced a strategic partnership aimed at revolutionizing access to education in Nigeria. This collaboration will combine FirstCentral’s expertise in credit risk management with NELFUND’s dedication to providing affordable education loans. The partnership’s primary objective is to create a seamless, effective and efficient process for students to obtain educational loans. By leveraging FirstCentral’s advanced credit scoring and data analytics capabilities, NELFUND will be able to assess borrowers’ creditworthiness more accurately, ensure faster approval of loan applications, provide more students with access to financial resources necessary in the pursuit of their academic goals without undue delay. Secondly NELFUND is saddled with the responsibility of guaranteeing the sustainability of this program by ensuring the loans are paid back when due and this task will be easily achieved by reporting the disbursed funds to FirstCentral’s portal as recommended by CBN for all credit facilities. This partnership aligns with the vision of both organizations to make education more accessible to Nigerians, by removing financial barriers. FirstCentral and NELFUND are working together to create a brighter future for the country’s youth in fulfillment of the present government agenda. Key benefits of the partnership include: • Faster loan approval times: Streamlined credit assessment process reduces waiting periods. • Improved access to education: More students can pursue their academic dreams without financial constraints. • Enhanced financial inclusion: Increased access to credit products contributes to a more inclusive economy. • Reduce the chances of loan loss and improve the likelihood of repayment. • It guarantees sustainability of NELFUNF through loan recycling. As part of this partnership, FirstCentral and NELFUND will also collaborate on educational initiatives to promote financial literacy among students. By equipping young people with the knowledge and skills to manage their finances responsibly, consequently students will make more informed decisions about their finances, education and future careers. Also read: https://firstcentralcreditbureau.com/the-cbn-raises-the-interest-rate-to-17-5/ The partnership between FirstCentral Credit Bureau and NELFUND marks a significant step forward in making education more accessible and affordable for Nigerians in line with the Federal Government strategic direction. By working together, we are helping to build a brighter future for our country. For more information on how to apply for an education loan, visit https://nelf.gov.ng/ and www.firstcentralcreditbureau.com or download FirstCentral Mobile App from play store and Apple store today. https://play.google.com/store/apps/details?id=com.firstcentralcreditbureau.fcbmobile https://apps.apple.com/ng/app/firstcentral-mobile/id6477953215 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
Partnership for a brighter future
Partnership for a brighter future: FirstCentral Credit Bureau, NELFUND join forces to achieve Federal Government vision of making education accessible to all Nigerians 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 Partnership for a brighter future: FirstCentral Credit Bureau, NELFUND join forces to achieve Federal Government vision of making education accessible to all Nigerians Education is one of the most powerful tools to change lives and empower individuals, yet the financial burden it often carries can become a roadblock for many Nigerians striving to achieve their academic dreams. FirstCentral Credit Bureau understands the importance of education as a vital investment in human capital development and its associated result for Economic development. On this credence FirstCentral aims at supporting organizations both within the private and public sector to achieve their intended outcomes. The Presidency under the current administration of President Bola Ahmed Tinubu has demonstrated her objective of making education accessible to all the citizens as well as providing vocational skills to interested populace through the establishment of NELFUND. Consequently, Nigerians will have a better-informed population with Increased information/scrutiny abilities and this will likely create impactful solutions at community and national levels. NELFUND therefore has been mandated to drive this government agenda by ensuring effective and efficient educational access to loans and management of credit receivables for all interested applicant. This task involves easy access to the educational loan to all applicants with a robust arrangement for recovering these loans in due time for continuous recycling among new applicants. Hence, the announcement of this strategic partnership between the Nigerian Education Loan Fund (NELFUND) and FirstCentral Credit Bureau is a collaboration designed to remove the barriers/ financial limitations and provide easy access to education through effective and efficient educational loan processing. This partnership will also enhance NELFUND’s risk management abilities through prompt reporting of all disbursed loans to the credit bureau which effectively guarantees repayment in due time and reduce default risk. Both parties (NELFUND and FirstCentral) are driven by the shared vision of empowering Nigerians to pursue their educational goals without the constraints of financial worries in fulfilment of the Federal government vision. This partnership is vital to the success of the entire program, considering FirstCentral’s position as the only truly Independent Credit Bureau in Nigeria without affiliation to financial institutions, this ensures objectivity of credit reporting of all participants. Chronologically, FirstCentral Credit Bureau also boost of the largest financial data in Nigeria (Historic and Current) across different sectors of the economy. This partnership is founded on the belief that no student should have to give up on their dreams due to lack of funds. By combining our expertise in credit management with NELFUND’s commitment to offering accessible student loans, we are creating a solution that helps young Nigerians focus on their studies, not their finances. FirstCentral Credit Bureau brings a wealth of experience in credit reporting, credit score monitoring, fraud examination, background verification and financial health education. FirstCentral platform helps both students and parents understand their financial standing, make informed borrowing decisions, and gain insights into their credit profiles. NELFUND, on the other hand, provides a lifeline to students, offering loans that are easy to access, with flexible repayment options and extremely competitive interest rates. This partnership will simplify the process of loan applications and approvals, ensuring that more students are able to finance their education without facing overwhelming obstacles. Read: https://firstcentralcreditbureau.com/replay-rethinking-the-concept-of-lending/ Creating Opportunities, One Loan at a Time By bridging the gap between financial institutions and aspiring students, this partnership serves as a beacon of hope for Nigerians who may have thought that higher education was out of reach. Whether it’s securing tuition for a university degree, vocational training, or even professional certifications, NELFUND loans supported by FirstCentral Credit Bureau’s robust credit services will enable individuals to pursue their ambitions with confidence. Through our collaborative efforts, we are committed to helping students not only secure the financial support necessary but also guide intending applicants in the management of their loans by leveraging on FirstCentral existing architecture/training Centre of financial literacy in educating applicant with tools such as Credit Score Monitoring, credit forecast and regressive analysis. students will learn how to maintain healthy credit Scores, which will be beneficial in the long run. This partnership transits a mere agreement, it is the transformation to the next generation of Nigerian leaders, innovators, and professionals with valid and achievable dreams, regardless of their financial background with FirstCentral and NELFUND, the future of education in Nigeria is brighter and more accessible than ever before. Let’s build that future together For more information on how to apply for an education loan, visit https://nelf.gov.ng/ and www.firstcentralcreditbureau.com or download FirstCentral Mobile App from play store and Apple store today. https://play.google.com/store/apps/details?id=com.firstcentralcreditbureau.fcbmobile https://apps.apple.com/ng/app/firstcentral-mobile/id6477953215 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
