1. What is a Credit Bureau?

A Credit Bureau is an independent organization that compiles identity information, public record information, statutory information and credit transaction and history information pertaining to individuals as well as corporate entities.

2. Who is CRC?

CRC Credit Bureau Limited is a private limited liability company duly incorporated and licensed under the laws of the Federal Republic of Nigeria & has been established with the purpose of creating and operating a consumer and corporate Credit Bureau in Nigeria.

3. How does CRC help me?

The operations of CRC Credit Bureau offers various value propositions to our stakeholders; borrowers, lenders and the economy: by enhancing the activities of lenders through provision of reliable information, assisting borrowers towards maintaining a responsible credit culture and accessing credit, and enhancing economic activities within the Nigerian economy.

4. Is CRC different from CRMS?

Yes, The CRMS was established by law for strengthening the credit appraisal procedures of banks, monitoring banks exposure to borrowers and facilitating consistent classification of credits. The CRMS requires mandatory reporting by all licensed banks on a monthly basis of all credits, including principal and interest of N1million and above (previously N100, 000). The CRMS is a regulatory mechanism established for the purpose of monitoring policy compliance, rather than a business and credit information provider. The CRMS is limited to bank credits and excludes non bank exposure and payment behaviour, from non-banking institutions and the non- financial sector credit grantors Going forward, the CRMS system will submit data to CRC as a public credit registry and this data will reflect in the CIR pulled from CRC.

5. What information is included in a CRC Credit Report?

  • Personal Details (Name, Date of Birth Gender) & ID Details
  • Address History
  • Employment History
  • Details of Inquiries made on your credit file (Who Inquired, When was the Enquiry Made)
  • Credit Facility History
  • Security Details
  • Suit Filed Details
  • Dishonour of Cheque Details


6. If I am a first-time borrower, will I be at a disadvantage as there will be no information on me?

As a new borrower, there will be a new file created for you (as and when our Member bank submits your information to us). It will then be in your interest to build up a favourable repayment track record for future credit applications.

7. How often should I check my Credit Report?

It is advisable to check your credit report at least once a year to ensure your identity has not been compromised. It is also prudent to check your credit report before applying for a loan especially if you have been denied credit or think your identity has been stolen.

8. Apart from me who else can view my Credit Report?

With your consent, any of CRC’s Member with a permissible purpose to view your credit report, can choose to do so.

9. What should I do if I find an Error in my Credit Report?

It is sometimes (rarely)possible for incorrect, incomplete or outdated information to appear on your credit report.

If it does, it can drastically lower your chances of getting the loans, credit cards, and other credit products you deserve. If you find an error, follow the steps indicated under dispute resolution process.

10. For how many years will data be stored by CRC ?

The CRC Credit Report will show credit history for the past three years. CBN has mandated that CRC will retain your credit history for years.

11. Can I choose to delete certain information from my credit report?

No, Unless you feel there are some errors in your credit report you cannot choose to delete information from your credit report. In case you find some error in the Credit Report it is advisable to follow the Dispute resolution process and the Bureau and the Member Banks will start their Verification process and in case any errors are identified, this will be corrected.

12. Can CRC Approve or deny credit?

No, CRC does not provide its opinion on the creditworthiness of any subject and does not approve or deny credit.

The CIR only provides available factual credit information and does not provide any opinion, indication or comment pertaining to whether credit should or should not be granted.

The credit grantors who have received an application for credit will make the credit decision. CRC does not grant or deny credit.

13. If my credit application has been rejected, will this fact appear in my credit record?

The Members do not provide this information to CRC and hence it will not be present in the CIR.

14. If a credit grantor has denied me credit, could others reject my application?

Not necessarily, Different credit grantors may use a CIR differently, or take into account other factors when they assess your application. Although one bank may deny you credit, another bank could take a different view and accept your application.

15. When does CRC classify an account as ‘default’?

CRC does not classify any accounts as default accounts. It merely reflects this information after the Member has classified it as such. The Number of Days Overdue Due and / or Asset Classification as per CBN definition as submitted by Members is reflected in the CIR.

16. How can I contact CRC’s Customer Service Representative?

You may contact CRC Customer support via Phone (+234 (0)1 6283901) or via email contactus@crccreditbureau.com