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Upon my arrival to Canada, I opened an account with the Royal Bank of Canada and was offered a credit card of C$2000 with a monthly repayment plan option of at least C$30 per month. This added to my settling plan as I got a comfortable apartment for my family here and invested the funds in my skill which I added to my 4-hour work per day. It made me financially secure. Why can’t Nigeria follow in this line? The poverty in the country is so much. 😡
Nigerian banks may adopt a more cautious approach in managing credit risk. Remember, Nigeria has a very poor identification system for citizens and residents. Also banks might be more hesitant to issue credit cards without thorough assessments of customers' creditworthiness and their ability to repaRead more
Nigerian banks may adopt a more cautious approach in managing credit risk. Remember, Nigeria has a very poor identification system for citizens and residents. Also banks might be more hesitant to issue credit cards without thorough assessments of customers’ creditworthiness and their ability to repay debts. This cautious approach helps banks mitigate the risk of non-performing loans.
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