The Financial Institutions Training Centre has launched its Credit Academy, an initiative aimed at nurturing highly skilled credit professionals to drive growth and sustainability in Nigeria’s financial services sector.
According to a statement by FITC on Sunday, the academy is part of its broader mission to support institutional resilience and economic development. The initiative is designed not only as a learning platform but also as a national response to structural gaps that have limited access to credit for decades.
“Amid rising credit demand, increasing credit bureau activity, and regulatory reforms, the academy is building the workforce Nigeria needs to unlock sustainable and inclusive credit delivery,” the statement read.
Data from the CRC Credit Bureau shows that Nigeria’s credit penetration stands at 14 per cent, far below the 30 per cent recorded in economies like Kenya and even higher levels in parts of Southeast Asia.
FITC noted that many financial institutions still lack adequately trained personnel to assess and manage credit risk effectively, resulting in conservative lending practices, high rejection rates, and heavy reliance on collateral that excludes low-income households and SMEs.
According to the statement, the FITC Credit Academy aims to address this gap through tiered learning tracks, application-focused methodology, and partnerships with key stakeholders.
It added that the academy will also provide training on integrating digital credit tools such as AI, automation, and mobile platforms to enhance credit assessment and monitoring.
Additionally, FITC highlighted that ongoing reforms, including the expansion of credit bureau coverage, enforcement of the Secured Transactions in Movable Assets Act, and digitisation of collateral registries, create a growing demand for technical capacity that the academy seeks to fill.
FITC stated that the Credit Academy represents a step towards building a robust, skilled workforce capable of unlocking Nigeria’s credit potential and supporting the nation’s broader economic development goals.
