The late 1980s and early 1990s witnessed rising non-performing credit portfolios in banks and these significantly contributed to the financial distress in the banking sector. Also identified was the existence of predatory debtors in the banking system whose modus operandi involved the abandonment of their debt obligations in some banks only to contract new debts in other banks. It was against this background that the Central Bank of Nigeria Credit Risk Management System (CRMS) or Credit Bureau was established. The Central Bank of Nigeria's webpage outlines the background and objectives of the system.
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