‘Leaders Must be Bold’ — a Fearless Lagos Credit Bureau CEO Speaks Out

Group Managing Director/CEO of Nigeria’s CRC Credit Bureau Ltd, Dr. ‘Tunde Popoola, in conversation with CFI.co.

Lagos-based CRC Credit Bureau, in association with Dun & Bradstreet, provides nationwide information on credit profiles, for consumers as well as corporate entities.

The focus is on improving the ability of credit providers to make informed lending decisions from customer acquisition, credit analysis and monitoring, skip-tracing and recovery. CFI.co wanted to find out more.

CFI.co: What excites you about the business world in general?

Tunde Popoola: I’m thrilled by the philosophy of addressing issues, finding solutions to human problems and creating value. That mindset makes life more rewarding and exciting, and businesses get to deploy tools to build institutions, develop a workforce and capacities to deliver on their focused areas. I’m enthused by the impact that businesses make, serving as engines of growth, innovation, and progress. The process contributes to improving living standards, societal development and human progress.

I’m excited by the dynamism and constant evolution of the business world. Every day brings new challenges and opportunities, pushing us to innovate, adapt, and grow. The pace of technological advancements and the way they transform industries is particularly fascinating.

This ever-changing landscape requires agility and a forward-thinking mindset.

What lessons did you learn from your earlier career experience?

The importance of resilience and adaptability. The business environment can be unpredictable, and the ability to pivot and adjust strategies is crucial for long-term success.

Additionally, I learned the value of building strong relationships and networks. Success is rarely achieved in isolation: collaborative efforts and partnerships often drive significant achievements.

Finally, I understand the necessity of continuous learning and staying updated with industry trends to remain competitive. I learned the benefits of dreaming big, and believing in myself. I leaned that fear is an enemy that can prevent us taking actions and risks, and encourages procrastination. If I am to succeed, I must conquer fear and self-doubt.

What motivates and enthuses you about the business you now lead?

Leading CRC Credit Bureau is particularly motivating due to the critical role we play in Nigeria’s financial ecosystem.

We’re not just providing credit information; we’re empowering businesses and individuals with the data and insights needed to make informed financial decisions. Our work directly impacts economic growth and financial inclusion, which is immensely gratifying. Additionally, the passion and dedication of our team is inspiring; it fuels my enthusiasm every day. I’m motivated by being at the forefront of something with the capacity to improve the quality of life and shape behaviour.

What is special about your organisation’s management style?

CRC Credit Bureau is collaborative, inclusive, and entrepreneurial. We believe in empowering our team members by giving them the space to make decisions. We encourage open communication and the use of initiative across all levels of the organisation.

We foster a culture of continuous improvement and innovation, where feedback is sought and valued. One of the secrets to success is our focus on employee development. We invest heavily in training, development programmes, and mentorship to ensure our team members are equipped with the confidence, skills and knowledge they need to excel in their roles.

What are the key strengths of the team?

Their expertise, dedication, and collaborative spirit. Each member brings a unique skillset and experience. Our support team is crucial; they ensure that everything runs smoothly behind the scenes, allowing the rest of the team to focus on strategic initiatives and client engagement. The synergy between teams enhances our efficiency and effectiveness, enabling us to focus on delivering exceptional service.

What are the key traits of a good corporate leader?

They should possess vision, integrity, and empathy. Vision is essential for setting a clear direction and inspiring others. Integrity builds trust and credibility, which are fundamental for fostering a positive organisational culture and maintaining stakeholder confidence.

Empathy allows a leader to promote a supportive and motivating work environment. A good leader should be bold and courageous enough to take some risks, and lead from the front. Strong communication skills and the ability to make tough decisions are crucial.

Do those criteria change when applied to your particular industry?

While the core traits remain consistent, there are specific nuances in the credit bureau and financial services sector. In our industry, a deep understanding of regulatory requirements and compliance is paramount. Given the sensitive nature of the data we handle, an emphasis on security and privacy is essential. Leaders in our industry must be adept at navigating complex stakeholder relationships, and possess a strong analytical mindset to cultivate data-driven decision-making.