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The Letter of Consent for Disclosure of Credit Information is a crucial document in Nigerian financial operations, required whenever credit information needs to be accessed, shared, or processed by authorized parties. This document became particularly important following the implementation of the Credit Reporting Act 2017 and the Nigeria Data Protection Regulation (NDPR) 2019, which established strict requirements for handling personal financial information. The letter serves as evidence of informed consent and protects both the information provider and recipient. It is commonly used in loan applications, credit assessments, and financial due diligence processes, ensuring compliance with Nigerian banking regulations and data protection laws. The document must clearly specify the scope of information to be disclosed, the duration of the consent, and any limitations on use, making it an essential tool in Nigeria's credit information sharing ecosystem.

1. Letter Header and Date: Includes letterhead, date, and reference number if applicable

2. Recipient Details: Full name and address of the credit bureau or financial institution receiving the consent

3. Subject Line: Clear indication that this is a consent for credit information disclosure

4. Consenting Party Information: Full details of the individual/entity giving consent, including relevant identification numbers

5. Purpose Statement: Clear statement of the purpose for which the credit information may be disclosed

6. Scope of Consent: Specific details of what information is authorized for disclosure

7. Duration of Consent: Period for which the consent remains valid

8. Authorization Statement: Explicit statement of consent and authorization

9. Signature Block: Space for signature, name, and date of execution