With less than two weeks until its annual conference, the Committee of e-Business Industry Heads (CeBIH) has called for a national rethink of how Nigerians perceive and access consumer credit, describing it as a critical driver of financial inclusion and economic growth.
Addressing a press conference in Lagos, the Chairman of CeBIH, Ajibade Laolu-Adewale, said the 2025 conference theme “Reimagining Financial Inclusion Through Cultural Shifts in Consumer Credit” reflects a growing need to step beyond traditional payment conversations to a more robust, credit-driven model.
He noted that while millions have been brought into the formal banking system through digital transactions, “true financial inclusion is not just about having a bank account; it is about having the financial tools to build a better life”.
According to him, the country’s slow adoption of structured consumer credit is rooted in long-standing distrust, caution and stigma.
“For too long, credit in Nigeria has been seen with suspicion or fear,” he said, stressing that responsible credit should be viewed as “a bridge to productivity, business expansion, better living standards, and a more resilient economy”.
He added that the committee is pushing for a dual transformation — a mindset shift among consumers and a renewed commitment to responsible lending within the industry.
This, he said, requires stronger governance, transparent processes and wider use of technology and alternative data to create trustworthy credit systems.
Speaking on preparations for the event, the Vice Chairman of CeBIH, Abidemi Asunmo, said the conference has been designed as an immersive experience for transformation and collaboration, bringing together bank executives, fintech leaders, regulators, policymakers and behavioural experts.
She said technical sessions will address alternative data for credit scoring, infrastructure for trust and transparency, financial literacy, and consumer-centric credit products for the informal sector.
Asunmo noted that the outcomes from the conference are expected to shape future conversations on inclusion, saying it will be the single most important gathering where the next frontier of financial inclusion in Nigeria will be discussed.
A member of the CeBIH Advisory Council, Wunmi Ogunbiyi, also highlighted gaps in the system, warning that even professionals within financial institutions struggle to access credit, pointing to weak data systems and poor repayment culture.
She stressed that previous government loan schemes recorded repayment levels of less than 10 or 20 per cent, calling for stronger structures to protect lenders and rebuild trust among borrowers.
CEO of Smartcash PSB and member of the CeBIH Advisory Council, Tunde Kuponiyi, described the conference theme as a natural progression, noting that millions of SMEs remain excluded because they operate outside the banking system.
