Loan Defaulters Risk Access to Passport, Housing, and More as FG Links Records to NIN

The Federal Government (FG) has announced plans to link the National Identification Numbers (NIN) of loan defaulters to their credit records, a move aimed at improving financial discipline and strengthening Nigeria’s credit system.

According to Uzoma Nwagba, Managing Director of the Nigerian Consumer Credit Corporation (CREDITCORP), the initiative will consolidate credit data from banks, fintech companies, and microfinance institutions into a centralized national credit bureau. This system will serve as a comprehensive record of borrowers’ credit activities across the country.

The FG warns that individuals who fail to repay loans may face restrictions on accessing key services, including passport issuance, driver’s licenses, and housing allocations. The move is intended to encourage responsible borrowing and reduce non-performing loans in the financial sector.

In addition, the government plans to integrate both financial and non-financial data into borrowers’ profiles, using NIN as a unique identifier. This approach is expected to provide a clearer picture of creditworthiness for lenders and help mitigate default risks.

As part of the reforms, CREDITCORP is also introducing YouthCred, a program targeting Nigerian youths, especially members of the National Youth Service Corps (NYSC). The initiative is designed to provide structured credit opportunities, promote financial inclusion, and instill financial responsibility among young Nigerians aged 18 to 25.

The FG has stressed that the program is not meant to punish borrowers, but rather to foster accountability, support responsible lending, and contribute to sustainable economic growth. Borrowers are therefore advised to regularly monitor their loan obligations to avoid potential restrictions tied to their NIN.