The Board believes it is extremely important to strike the right balance by seeking to protect consumers from predatory lending practices without restricting credit from responsible lenders to borrowers with shorter or lower-rated credit histories. To achieve that balance, we coordinate with other federal and state agencies, and consult with consumer advocates, lenders, investors, and other interested parties.
Most African countries, including Nigeria share certain similarities with the two countries in terms of their large population, massive supply of relatively educated and cheap labour, and existence of huge domestic markets essential for the attraction of foreign investment. For Africa to emerge from the present economic problem there is need for development strategies that fit into the unique nature of the continent.