When I was a younger man just starting out in the world, I made some poor financial decisions that led to me getting blacklisted by the credit bureaus. At the time, I was working a lower-paying job and had taken out some loans and credit cards that I struggled to keep up with the payments on. Before I knew it, I had fallen behind and my accounts were sent to collection agencies. It was a stressful time and I felt like I had no way out of the deep hole I had dug myself into.
What a Credit Bureau Blacklist Means
So what exactly does it mean to be blacklisted by the credit bureaus in Nigeria? The three major credit bureaus – CRC Credit Bureau Limited, Credit Registry Services Limited (CRSL), and NIBSS Credit Bureau Limited – collect data on people’s borrowing and repayment histories and issues them credit reports and credit scores. When you default on a loan or other credit agreement, negative marks are placed on your credit report.
If too many negative marks accumulate, or if you have a history of not paying debts, the credit bureaus will blacklist you. Being blacklisted means future lenders can see that you are a high credit risk, and it becomes virtually impossible to secure new loans, mortgages, or credit cards. Your BVN (Bank Verification Number) is associated with your credit report, so being blacklisted also makes it difficult to open new bank accounts.
It took me a while to understand the full consequences of being blacklisted, but once I did, I knew I had to take action to resolve it as soon as possible. I wanted to be able to access credit again someday if necessary and to rebuild my financial future. So I started doing research online on how the credit bureau blacklisting process works in Nigeria and what steps someone needs to go through to get their name removed.
How to Remove Your BVN From Credit Bureau Blacklist in Nigeria
From what I read, the first step is to gather all the necessary documents. You will need
- Your valid ID card (national ID card, driver’s license, international passport)
- Recent utility bill as proof of current address
- Proof of repayment/settlement letters from all previous lenders you defaulted on
- A letter requesting credit report review and blacklist removal
I contacted all the lenders I had defaulted with to request proof of settlement or repayment letters. This involved negotiating payments in some cases to resolve the outstanding debts.
Submitting Your Credit Report Review Request
Once you have all the required documents compiled, you need to submit a credit report review request directly to the credit bureaus. Each bureau has its own process:
For CRC, submit documents to their head office in Lagos or any branch
For CRSL, submit online via their website or by post/courier
For NIBSS Credit Bureau, submit online or to their office
In the letter, you need to politely and sincerely ask them to review your credit report due to the issues being resolved and remove your name from the blacklist. You’ll need to pay the applicable credit report review fees.
After submitting your request, you enter a waiting period where the credit bureau will review your credit report and verify all the documentation received. This process can take 4-6 weeks. It’s an anxious time as you wait to see if they will agree to remove the negative history and take you off the blacklist.
There are a few possible outcomes once the credit bureau has finished reviewing your request:
Blacklist removal approved: If they are satisfied all issues have been resolved, they will update your credit report and remove the blacklisting.
Request denied: If settlement letters are insufficient or other issues remain, they may deny the request. You’d need to address outstanding items.
Request pending: They may need more time or information. Follow up respectfully for updates.
Partial removal: Some but not all negative history removed depending on individual lender response.
The goal is to get full blacklisting removal, but even partial improves your credit standing. Keep all documentation of the process.
In my case, it took several weeks of back-and-forth before I had secured all the necessary repayment proof letters. But once I submitted my complete request package, the waiting period was the hardest – wondering if it had worked.
Thankfully, after a month, I received notice that CRC had approved my request and removed me from their blacklist! Seeing that updated credit report was such a relief.
Conclusion
As frustrating as the experience was, going through the blacklist removal process was worth it to get my financial future back on track. I hope sharing my journey provides helpful guidance for others in navigating the Nigerian credit bureaus. With effort and perseverance, you can resolve issues on your report over time.
