Kwara State University (KWASU), Malete, took a decisive step towards strengthening the link between academia and industry as it hosted its first collaborative lecture with CRC Credit Bureau Limited, with a focus on how trust, data and innovation are redefining finance and entrepreneurship in Nigeria.

The lecture, organised by the Faculty of Management and Social Sciences (FMSS) in partnership with the Centre for Advancement and Industrial Collaboration (CAIC), drew participation from top university officials, industry experts and students under the theme, “Finance, Entrepreneurship and the Infrastructure of Trust”.

In his address, the vice chancellor, Professor Shaykh-Luqman Jimoh, said the initiative forms part of the university’s commitment to forging practical partnerships that enhance learning and promote national development.

He recalled that KWASU and CRC Credit Bureau had, earlier in January, formalised a strategic partnership aimed at advancing collaboration in finance, data science, credit management and employability.

He noted that the partnership will provide students with structured internships, industry exposure and targeted training, while also opening up opportunities for joint research and knowledge exchange between the university and the financial services firm.

“This is one of the ways we are bridging the gap between the ivory tower and industry. Our goal is to ensure that our students are not only academically sound but also industry-ready,” he said.

The highlight of the event was the keynote lecture delivered by the Managing Director/Chief Executive Officer of CRC Credit Bureau Limited, Dr Ahmed Tunde Popoola, who provided an in-depth analysis of the evolving financial landscape and its implications for economic and enterprise development.

Popoola explained that finance has evolved beyond traditional intermediation to become a critical enabler of innovation, inclusive growth and entrepreneurial expansion.

He noted that advancements in information and communication technology have transformed financial services, leading to the emergence of digital banking, fintech platforms and alternative lending systems that now compete with traditional institutions.

According to him, these innovations have improved access to credit, particularly for small businesses and underserved populations, while also reducing transaction friction and supporting the growth of digital economies.

He, however, warned that the rapid expansion of digital finance comes with challenges, including regulatory gaps, cybersecurity risks and the growing threat of over-indebtedness due to easy access to digital loans.

Speaking further, the CRC boss emphasised the central role of data in modern finance, noting that both financial and alternative data such as transaction history, mobile phone usage and online behaviour, are increasingly used to assess creditworthiness.

He described the “infrastructure of trust”, including credit bureaus, digital identity systems, collateral registries and data governance frameworks, as the backbone of an efficient financial system.

Popoola explained that credit reporting systems help to address information asymmetry between lenders and borrowers, thereby boosting confidence in lending decisions and expanding access to finance.

He pointed out that Nigeria has made notable progress in this regard through initiatives such as the Bank Verification Number (BVN), National Identification Number (NIN), credit bureaus and the National Collateral Registry.

Despite these gains, he called for stronger policy coordination, improved data integration and accelerated development of critical infrastructure, particularly electricity, to unlock the full potential of entrepreneurship in the country.

He also urged entrepreneurs and consumers to maintain integrity in their financial dealings and digital activities, stressing that data-driven profiling increasingly determines access to credit.

Popoola further challenged policymakers and academics to prioritise evidence-based research on government interventions in financing small and medium enterprises, as well as the broader impact of fintech and digital finance on economic growth.

The lecture also underscored the need to harmonise Nigeria’s multiple identification systems into a unified framework to enhance efficiency and trust within the financial ecosystem.

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