Money Lenders Association is a non-profit, non-political organization to be incorporated at the Corporate Affairs Commission to pursue objectives for the benefit of all licensed Money Lenders in Lagos and other states of the federation who become our members.

The main objectives of the Money Lenders Association are to unite all Credit Company using the Money Lenders Licence to work for the betterment of the industry and to safeguard the interest of the public and customers of the money lending business.
The Association will work closely with the Government and relevant institutions with an aim to enable a better understanding of the money lending industry and the practical difficulties encountered by the industry in its daily operation.

The Association will work with the Ministry in coming up with a Code of Practice aimed at s to self-monitoring and self-regulation of the money lending industry. It also aims to strengthen customers’ trust in the money lending industry by providing clear guidance to members on the operation of the money lending business in particular customer relationship management.

One of the objectives of the Code of Practice is to increase transparency in the provision of money lending services so as to enhance the understanding of customers of what they can reasonably expect of the services provided by members.

The Code of Practice is expected to set out the minimum standards which members should follow in their dealings with customers. The Code will also promote a stronger corporate culture of treating customers fairly so that the interests of customers are taken into account during the business dealings.
With the sudden increase in the numbers of Credit Companies using the Money Licence to operate in the State, we plan to work with the Government to establish effective systems and controls to prevent and detect money laundering and counter-terrorist financing.