Delinquent Debtors: Stakeholders Call for International Data Sharing Agreement
Some stakeholders have stressed the need for the Central Bank of Nigeria to enter into an international data sharing agreement with other regulators across the globe to expose bank customers who take loans and relocate to other countries without any repayment plan.
Speaking on the development, a senior banking officer who pleaded to remain anonymous, said: “We have seen the trend for about two years whereby a large pool of customers and staff who want to leave the country, knowing that when they leave the country, the banks would not have any way of reporting them to bureaus internationally.
“It would be helpful if there is an international credit bureau database where we can report, in such a way that if the person goes to Canada or Australia and wants to take a loan, and they know you have a delinquent loan in your country it would also limit their ability to access loans.” Furthermore, he advocated for intelligence sharing, saying, “In Nigeria, we have credit bureaus and I believe the credit bureaus need to step up to a step higher by linking their database internationally so that if you go abroad, your bad credit reporting would still follow you especially because most of them leaving are going there to get mortgages.
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