Dr Jameelah Sharrieff-Ayedun, through CreditRegistry, is enhancing access to credit and financial data for financial institutions in Nigeria.
When conversations turn to Nigeria’s financial sector, the spotlight often falls on mobile banking, payments, and the rapid expansion of fintech solutions. Yet behind the scenes, a quieter transformation has been taking place in credit reporting, an area long overlooked but crucial for any country hoping to achieve sustainable financial inclusion. At the centre of this shift is Dr Jameelah Sharrieff-Ayedun, co-founder and Chief Executive of CreditRegistry Nigeria, the country’s first licensed credit bureau.
Sharrieff-Ayedun’s career began in North America and Asia, where she established herself as an engineer and program manager for companies like General Motors and Microsoft. This early experience in project leadership and international operations provided her with a strong technical foundation and a deep understanding of structured systems and data-driven decision-making, all before her strategic move into financial services.
Her professional journey also exposed her to the importance of reliable credit information in developed markets. Credit reporting is often not taken for granted in countries where financial infrastructure is well established. Yet, its absence in Nigeria at the time posed significant barriers for lenders and borrowers.
Founding CreditRegistry
In 2001, recognising this gap, she co-founded CreditRegistry Corporation in the United States with her husband, a Nigerian entrepreneur. The aim was to design a credit reporting and management framework that could be applied to African economies. The following years saw this vision realised in Nigeria, where CreditRegistry Nigeria was set up as the first credit bureau authorised to operate in the country. The company provided a platform through which banks and financial institutions could share and access information about repayment histories, reducing reliance on guesswork or personal connections in lending decisions.
Becoming a CEO
Dr Sharrieff-Ayedun became the substantive Managing Director and Chief Executive Officer of CreditRegistry Nigeria in 2014. Under her leadership, the company reported considerable financial gains, including an 858% increase in profitability. Beyond the figures, CreditRegistry consolidated its role as a key part of Nigeria’s financial infrastructure, becoming the largest credit bureau in the country.
CreditRegistry pioneered credit reporting innovations with its early adoption of biometric technology, encompassing fingerprint, facial, and iris recognition. Additionally, the company developed SMARTScores, a scoring system designed to standardise and simplify risk assessment. These advancements have been instrumental in enabling lenders to provide credit to individuals and businesses previously excluded from formal borrowing due to insufficient credit histories.
Impact on the financial sector
CreditRegistry’s database now contains millions of credit profiles covering both individuals and businesses. For banks, microfinance institutions, and other lenders, this data makes it easier to extend credit with greater confidence. For borrowers, particularly those running small and medium-sized enterprises (SMEs), it has created opportunities to access loans that might previously have been out of reach.
Financial analysts point to a decline in default rates as one indicator of the bureau’s impact. By equipping lenders with reliable information, the system reduces the chances of loans being granted to individuals or businesses unable to repay. This not only protects financial institutions but also contributes to greater stability in Nigeria’s banking sector.
Promoting financial literacy
While providing data infrastructure is at the core of CreditRegistry’s operations, the company has also taken steps to promote financial education among the wider public. Initiatives such as the Africa Credit Expo and the Africa Consumer Credit Academy aim to increase awareness of how credit systems work and encourage responsible borrowing.
“We want to ensure that people not only have access to credit but also understand how to use it responsibly to build strong credit profiles and create wealth for future generations.”She told Punch.
In recent years, the bureau has partnered with stakeholders to reach over one million Nigerians with financial literacy campaigns, with a stated goal of extending this figure to three million families by 2030. Dr Jameelah Sharrieff-Ayedun has contributed to significant changes in the country’s credit landscape with her company.
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