While millions of Nigerians now have bank accounts, most still find it nearly impossible to access formal loans. The reason? Not just policy gaps — but a shortage of people who know how to lend responsibly.
To tackle that problem head-on, the Financial Institutions Training Centre (FITC) has launched the Credit Academy, a new national programme aimed at building a generation of professionals who can bridge the country’s credit divide.
“We’re not just teaching theory,” FITC said in a recent statement. “We’re building a workforce that understands how to deliver inclusive, sustainable credit.”
Credit Access: A Numbers Game That Nigeria Is Still Losing
According to the CRC Credit Bureau, only about 14 percent of Nigerians are currently able to access credit — a figure that has improved slightly in the last decade, but remains far behind countries such as Kenya (over 30 percent) or several Southeast Asian nations.
Experts say the numbers reflect more than economic strain. They reflect a deeper, structural issue: banks and lenders often don’t have the trained staff needed to assess risk, understand informal businesses, or design products for low-income households and small businesses.
The result? Overly cautious lending, high rejection rates, and a continued dependence on heavy collateral — a model that excludes the very people who need credit the most.
Inside the Credit Academy: Building Talent, Not Just Theory
FITC’s Credit Academy is designed to change that. It offers tiered training — from beginner to advanced — targeting everyone from fresh credit officers to senior executives.
The programmes are hands-on, using real-life case studies, peer learning, simulations, and industry-specific tools. Participants are exposed to how credit actually works in Nigeria’s context — not just the textbook version.
Key elements of the academy include:
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Tiered Learning Tracks: Beginner, intermediate and advanced courses for various job levels.
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Practical Modules: Every lesson is built around real-world applications.
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Digital Credit Tools: Training on AI, mobile credit platforms, and automation.
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Stakeholder Partnerships: Collaborations across the financial services sector to support reform.
The Bigger Picture: Laws Alone Won’t Deliver Loans
Nigeria has passed important reforms — such as the Secured Transactions in Movable Assets Act and digitisation of collateral registries — but FITC warns that tools are only useful if people know how to use them.
“Institutions can’t benefit from reforms if they don’t have people with the technical skills to implement them,” the centre explained.
This is why the Credit Academy isn’t just a training platform — it’s a strategic national response to a decades-long bottleneck in Nigeria’s credit system.
From Paper Certificates to Real-World Competence
In the end, the success of Nigeria’s credit future may depend less on new regulations and more on the people interpreting them.
FITC’s Credit Academy is betting on human capital — equipping professionals with the skills, confidence, and insight to expand access to credit, support small businesses, and build a more inclusive financial system.
It’s not just about teaching credit. It’s about changing who gets trusted, who gets funded, and who gets to grow.
