A credit expert and President of the Money Lenders Association (MLA), Gbemi Adelekan, has said that many Micro, Small, and Medium Enterprises (MSMEs) in Nigeria are building up negative credit profiles that could bar them from accessing the capital they desperately need to grow.
Adelekan, who stated this in an interview with the News Agency of Nigeria (NAN) on Sunday, described credit health as not just a financial record but as a business passport that can unlock doors or keep them firmly shut.
“It’s no longer just about borrowing money; it’s about what your credit story says about your business. Many MSMEs don’t realise that their borrowing behaviour today will determine whether they can scale tomorrow,” Adelekan said.
