August 16, 2023


Credit Bureau of Nigeria (CBAN) is an incorporated not-for-profit and non-governmental business management organization formed to promote a credit reporting culture towards the expansion of Nigeria’s economy through its values.

Members of the association are the licensed private credit bureaus, particularly, these are:

  1. XDS Credit Bureau/First Central Credit Bureau
  2. CRC Credit Bureau Limited
  3. CR Services Credit Bureau

CBAN seeks to promote the use of credit information, access to finance and the success of members and stakeholders through advocacy and capacity building.  CBAN ensures the utilization of data in accordance with international best practices and relevant legislation.

The vision of CBAN is Credit Information for Wealth Creation.

The organization’s mandate is to create a platform to protect the interests of credit bureaus, articulate and promote policies and regulations favorable to the lending industry in particular and the financial and banking industry in general while proactively monitoring developments relating to the promulgation of laws and issuance of regulations that have bearing on the credit bureau industry.

CRC Credit Bureau Limited

CRC Credit Bureau Limited, a private limited liability company duly incorporated and licensed under the laws of the Federal Republic of Nigeria was established by a consortium of Eleven (11) leading Financial Institutions and Dun & Bradstreet (a leading global credit information service provider) with the purpose of creating and operating a consumer and corporate Credit Bureau in Nigeria. Operating as an independent venture, CRC Credit Bureau Limited provides an industry-wide information repository on credit profiles of corporate entities as well as consumers, thus improving the ability of credit providers to make informed lending decisions. They claim to be the leading credit bureau company in Nigeria with credit information of over 95% of the Nigerian lending industry covering commercial banks, non-bank institutions, retailers & utility service providers. Access to their credit information database enables creditors and other lending institutions extend credit to existing and new customer segments while taking advantage of our technology driven product offerings to develop new credit products.

CR Services Credit Bureau Limited

CR Services was incorporated in Nigeria in January 2003. Later that year, the credit bureau database went live with two Nigerian banks and CR Services was selected as technical partner to the Credit Risk Managers Association (CRIMA) — the largest association of risk managers in Nigeria. This partnership led to a three-month Technical Evaluation of CR Services by the Risk Management and IT staff of about 50 banks. An overwhelming majority (94%) approved of the service, commending its ease of use and unique biometric advantages

First Central Credit Bureau Limited

First Central Credit Bureau Limited is Nigeria’s first licensed credit bureau. The company was incorporated as XDS Solutions Limited in May, 2005 with RC. No 623, 894 and having satisfied the conditions for the grant of a credit bureau license under the Central Bank of Nigeria Act, No. 7 of 2007, was granted final operating license on the 28th of May 2009 to operate a credit bureau in Nigeria.

First Central Credit Bureau changed its name from XDS Credit Bureau to First Central Credit Bureau in April 26, 2018.

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