Nume Ekeghe

The Committee of e-Business Industry Heads (CeBIH) has announced a major push to reposition consumer credit as a national instrument for economic empowerment, warning that Nigeria cannot achieve meaningful financial inclusion without a fundamental shift in how credit is understood and used.

Speaking at a press conference ahead of its 2025 Annual Conference, the  Chairman, CeBIH, Ajibade Laolu-Adewale,   said the country must now move beyond two decades of innovation focused primarily on payments and confront the deeper structural limitations preventing millions from unlocking economic mobility.

This year’s conference, themed “Reimagining Financial Inclusion Through Cultural Shifts in Consumer Credit,” is intentionally designed to steer that national conversation.

“Is being able to transact the same as being able to thrive? The resounding answer is no,” he said. “True financial inclusion is not just about having a bank account. It is about having the financial tools to build a better life.”

He noted that although digital payments have brought millions into the formal financial ecosystem, Nigeria’s next stage of inclusion depends on building a credit culture that supports responsible borrowing, financial security and long-term wealth creation. Yet credit remains widely misunderstood, often viewed with suspicion or stigma.

“For too long, credit has been viewed as a sign of weakness rather than a strategic tool for advancement,” he said. “This cultural narrative has limited opportunities and slowed economic growth. We are determined to change it.”

The chairman outlined two central objectives for the 2025 conference. The first is a national mindset shift to reframe credit as a tool for productivity, smoothing cashflows and enabling the pursuit of economic opportunities. “Credit, when used wisely, is not a burden,” he said. “It is the bridge between an idea and its execution, between a paycheck and a secured future.”

The second objective is industry transformation. He said the lending ecosystem must embrace transparency, fairness and consumer-centric products, leveraging technology and alternative data to extend credit to millions who remain excluded from traditional models.

“This year’s conference will not be another talk shop,” he said. “We are convening banking leaders, fintech innovators, regulators, policymakers, government agencies and behavioural experts to design a practical blueprint for reshaping Nigeria’s credit culture.”

Delegates will examine critical issues including lending to the informal sector, embedding financial literacy into credit products, strengthening systems that protect borrowers and rebuilding trust through responsible lending practices.

He urged the media to help take the message beyond the conference halls. “CeBIH is committed to building a financial system where credit is a ladder for Nigerians to climb, not a hole to fall into,” he said.

CeBIH Vice Chairman, Abidemi Asunmo, said the opening session will host senior government and industry leaders, including the Ministers of Communications, Innovation & Digital Economy; Humanitarian Affairs and Poverty Alleviation; and the Chief Executives of Credicorp, the Nigeria Credit Guarantee Company (NCGC), the National Identity Management Commission (NIMC), the Deputy Governor for Financial System Stability at the Central Bank of Nigeria, and the Group Managing Director of United Bank for Africa.

She added: “The event will kick off with a high-level opening session… This session will set a definitive tone, framing the high-stakes imperative for a cultural shift in credit.

“Following this, we will dive deep into a series of Keynote Speeches and Technical Sessions… We have curated practical, solution-oriented sessions on the most critical pillars of this new ecosystem: Leveraging Alternative Data for credit scoring, designing consumer-centric credit products for the informal sector, building robust digital Infrastructure for trust and transparency and implementing financial Literacy as a core component of lending.”

​