ICA clamours for integrity in managing credit for economic growth vanguardngr.com vanguardnews
The conference which was attended by experienced industry practitioners, stakeholders, professionals and the special guest of honour, former President of the Federal Republic of Nigeria, Chief Olusegun Obasanjo who said food import restriction must be backed by right policy to achieve desired result.
Aremo said that the objective of creating a credit blacklist is to deny new loans to the listed defaulters because they are considered untrustworthy or disloyal to the country’s credit system. In addition, Managing Director, Asset Management Corporation of Nigeria, Mr. Ahmed Lawan Kuru who spoke on how lack of integrity and trust undermines economic growth, said, “even though the challenges we face within the financial sector and indeed across the economy are significant, they are not insurmountable, they cannot overwhelm us.
According to him, credit lenders need to collaborate more with the judiciary as their role as the ultimate decider of claims is vital to bolstering the credit system. If irresponsible lenders see the judiciary as a hiding place where their cases can be dragged indefinitely, it undermines the credibility of the entire credit system.
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