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Kwara State University and CRC Credit Bureau partner for credit access and economic growth research
via Punch Nigeria3 min read
Kwara State University KWASU and CRC Credit Bureau Limited have formed a strategic partnership to improve access to credit and stimulate economic growth through data-driven research and financial infrastructure development. A Memorandum of Understanding MoU was announced, allowing KWASU to access anonymized credit data for research and policy innovation. The collaboration, organized by the Faculty of Management and Social Sciences and the Centre for Advancement and Industrial Collaboration, brought together academics and industry experts to discuss finance, entrepreneurship, and data-driven credit systems. Dr. Ahmed Popoola, Managing Director and Chief Executive Officer of CRC Credit Bureau Limited, emphasized finance as a key driver of entrepreneurship, noting that limited credit access hinders many Nigerians. He highlighted that credit can unlock opportunities, citing examples of individuals and businesses growing significantly with accessible financing. Popoola lamented that many entrepreneurs are excluded from formal financing due to a lack of credit history. He stressed the importance of credit bureaus, digital identity systems, and open banking frameworks in bridging information gaps and expanding financial access. Nigeria's credit penetration is low at about 13% compared to a global average of 91%, necessitating stronger policy frameworks and deeper data integration. Popoola argued that government interventions alone are insufficient, advocating for market-driven solut
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