Background
The Government of the Federal Republic of Nigeria recognizes
that the establishment of a consumer credit system is a strategic
imperative for economic development and is one of the current important
tools for actualizing government's initiatives for sustainable development
and the fight to alleviate poverty.
Accordingly, a Committee on Consumer Credit was inaugurated by President
Olusegun Obasanjo, GCFR, on August 5, 2005 mandated with the task
of determining the enabling environment and operating framework
for the take-off of a consumer credit system in Nigeria.
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