Business
Credit Bureau Operator Seeks Non-Bank Collaboration
The Managing Director, CRC Credit Bureau Ltd., Mr Tunde Popoola, has urged non-bank companies to also employ the services of credit bureaus in their business dealings.
Popoola said in Lagos that travel agencies, hotels, retailers, manufacturers, leasing companies, audit firms and employment agencies required the services.
“Apart from commercial banks and other financial institutions, other businesses need credit bureaus to reduce their volume of losses or bad debts,.“ he said.
Popoola said credit bureau operators have jointly made contacts and presentations, held meetings and conferences with other stakeholders in the economy to improve their transactions.
Popoola, however, said much more advocacy was necessary to encourage non-bank companies to engage the services of credit bureaus, saying that many companies were not using their services..
He urged the Federal Government not to register too many credit bureaus, saying that “most economies start with one or a maximum of two“.
Popoola said that some African countries had only one credit bureau, except South Africa, Ghana and Nigeria.
“The more bureaus you have, the costlier it becomes for borrowers to get loans or for customers to get credit facilities from non-bank business outfits,“ he said.
Reports says that the Central Bank of Nigeria (CBN) in 2009 licenced three credit bureaus for credit rating of borrowers from banks..
The three bureaus are XDS Credit Bureau Ltd., Credit Registry Service Ltd. and CRC Credit Bureau Ltd.
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.