A new credit risk platform could soon overhaul how banks in Nigeria decide who gets a loan—and who doesn’t. At the center of this change is Ehimare Ucheoma, a veteran of Nigeria’s financial sector with a deep understanding of its gaps, particularly in lending accuracy and regulatory compliance.
Ucheoma spoke with reporters in Lagos, laying out what she called a “timely and necessary” innovation. Her new platform collects and processes vast layers of financial data to help banks avoid bad loans and sharpen their credit decisions. For a sector often criticized for being too slow or too risky in lending, this might be a real shakeup.
“This is not some abstract tech product,” she said. “It’s a working, practical system that reduces guesswork and makes loan decisions faster, smarter, and safer.”
Why Nigerian Banks Have Been Struggling With Risk
Let’s not pretend it’s been smooth sailing. Nigeria’s banking sector has faced years of pressure when it comes to credit risk. Bad loans have eaten into profits. Poor documentation and inconsistent data have made it difficult to evaluate customers clearly. Add regulatory heat on top of that, and the environment has been… tense.
Banks are under constant pressure to lend more, yet they’re haunted by rising default rates. Between balancing Central Bank of Nigeria’s strict compliance rules and market demand for credit, the industry often finds itself stuck in a catch-22.
Some banks have resorted to rigid systems or outdated models that simply don’t cut it anymore. Others have depended too heavily on credit bureaus, which don’t always capture the full financial behavior of borrowers.
And that’s exactly the gap Ucheoma believes this platform can fill.
How the Platform Works — And Why It Could Matter
Ucheoma’s system is built to pull data from multiple corners of the borrower’s financial life. Not just credit bureau reports, but internal bank transaction records, payment patterns, and other behavioral metrics. It then crunches this data to produce a single, actionable risk score.
Here’s what makes it different, according to her:
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It adapts in real time to new data, allowing for dynamic updates on customer risk.
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It complies fully with IFRS 9 accounting and Basel II/III frameworks.
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It is designed with the specific needs of Nigerian banks in mind—meaning local context is not an afterthought.
The approach isn’t just technical. It’s psychological, too. By creating trust in the data and simplifying decision-making, the system aims to reduce hesitation among credit officers. That, in turn, could speed up loan approvals while lowering bad debt risk.
Who’s This Really For?
While it’s tempting to assume this is a “big bank” tool, Ucheoma insists it can serve institutions of all sizes. “Whether you’re a tier-one bank or a small regional lender, you need a system that helps you sleep at night,” she said with a chuckle.
She added that the platform is scalable and modular, allowing banks to start small and grow over time. And because compliance is baked into the architecture, it also doubles as a guardrail for regulatory inspections.
Here’s a quick look at how different players in the sector might benefit:
| Stakeholder | Benefit |
|---|---|
| Commercial Banks | Faster, more confident lending decisions; improved capital allocation |
| Microfinance Lenders | Data-backed risk checks for first-time or informal borrowers |
| Regulators | Easier audits, better transparency, stronger systemic stability |
| Customers | Fairer evaluations, shorter processing times, better access to credit |
One key point she emphasized was financial inclusion. The system isn’t built just for those with formal banking histories. It incorporates alternative data sources that could bring underserved populations into the credit fold—people previously labeled “unscorable.”
The Regulatory Piece Can’t Be Ignored
Innovation in finance isn’t really innovation unless regulators are on board. Ucheoma gets that. And that’s why the platform is designed to match up with Central Bank of Nigeria (CBN) policies and global compliance standards.
In particular, the system aligns with:
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IFRS 9, which mandates forward-looking loss estimation.
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Basel II and III, focused on risk sensitivity and capital adequacy.
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CBN’s Risk-Based Supervision (RBS) framework.
One sentence paragraph: That’s not accidental.
She said the platform was audited in phases, with extensive feedback from both regulatory consultants and internal bank compliance teams. The goal was simple—make sure this tool actually helps banks meet their oversight obligations, not just automate what they already do poorly.
Will Banks Bite? Maybe Sooner Than You Think
Convincing banks to change systems isn’t easy. But according to Ucheoma, the appetite is already there. She’s currently in discussions with three major Nigerian banks for pilot rollouts, and at least one regional lender has already integrated parts of the platform into their risk desk.
Why now?
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Loan defaults remain a pain point, and boards are asking tough questions.
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Compliance pressure is only increasing, especially post-pandemic.
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The rise of fintechs has exposed just how outdated traditional credit systems are.
Ucheoma believes the tipping point is close. “Banks want change,” she said. “They just need to see that it won’t disrupt their entire operations overnight.”
One-sentence paragraph again: That’s exactly what her product promises—not a revolution, but a smart recalibration.
