Credit Alert: The Importance of a Functional Credit System

Imagine a Nigeria where dreams are nurtured, businesses flourish, and innovation thrives - all made possible by a robust credit framework. Credit is the lifeblood of any free market economy, fostering investment, innovation, and entrepreneurship. It fuels the engine of growth, allowing individuals and businesses to take calculated risks, expand operations, and contribute to overall economic prosperity. A robust credit system not only enables access to capital but also empowers dreams, creating a positive ripple effect throughout the society. The credit system is like a financial bridge, connecting those who have excess capital with those who need it to invest, grow, and create opportunities. In Nigeria, however, this bridge has shown some cracks, affecting individuals, businesses, and the entire economy. The stark reality is that our credit system is marred by challenges that require collective wisdom and strategic action. This article aims to shed light on the current state of Nigeria...