When it comes to purchasing stocks, it’s akin to lending money to an institution. The assurance that they can repay depends on various factors, and this is where credit rating agencies come into play. These agencies evaluate the ability of borrowers, including government bodies and private enterprises, to repay their debt. This assessment, known as … Read more
In today’s world, obtaining a loan is often a necessary step towards achieving financial goals. Whether it’s for a new car, a business investment, or a significant asset, a loan agreement is a crucial component of the process. This binding contract outlines the responsibilities of both the lender and the borrower, ensuring transparency and legal … Read more
In desperate situations, people often find themselves resorting to extreme measures to secure much-needed funds. Unfortunately, for many, legal avenues for obtaining loans are out of reach, leading them to turn to illegal means. This is where loan sharks come into play. But who exactly are these individuals, and how do they operate? Who is … Read more
The debate surrounding the prevalence and usage of credit cards in Nigeria has been a longstanding one. When viewed on the global scale, it’s evident that the adoption of credit cards by individuals and businesses in the country is relatively low. In this post, we will delve into the essence of credit cards, shedding light … Read more
For many Nigerians, owning a car is a significant milestone that often requires financial assistance. Whether you’re eyeing a brand-new ride or a reliable Tokunbo, securing a loan can pave the way to making your dream a reality. In this article, we’ve curated a comprehensive list of trusted car loan companies in Nigeria to guide … Read more
In recent years, Nigeria has witnessed a surge in various means of financing basic needs, and one of the most notable avenues is micro loans. These are essentially small loans that borrowers can access from individuals rather than traditional financial institutions, operating on a peer-to-peer lending system. If you find yourself facing cash flow challenges, … Read more
Microfinance banks play a crucial role in providing financial services to the “unbankable,” catering to individuals who may not have access to traditional commercial banking services. One of their key offerings is providing loans to salary earners, allowing them to meet immediate and potential financial needs. In this article, we’ll provide a comprehensive list of … Read more
A credit score is a crucial financial metric that reflects an individual’s creditworthiness. In Nigeria, this three-digit number, ranging from 300 to 850, is determined by factors such as payment history, amount owed, pursuit of new credit, length of credit history, and credit mix. This guide will delve into the significance of a credit score … Read more
In the dynamic landscape of business, growth often requires financial support. Whether it’s expanding operations, acquiring new equipment, or bringing in additional talent, a business loan can be a game-changer. However, understanding the intricacies of interest rates and loan costs can be a daunting task. This is where a business loan calculator steps in, simplifying … Read more
In the late 1980s and early 1990s, Nigeria’s banking sector faced a crisis characterized by predatory debtors moving from one bank to another, neglecting their obligations. To address this, the Central Bank of Nigeria took action by establishing a central database to regulate this practice, giving birth to the Credit Bureau of Nigeria. This pivotal … Read more