AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
The status on a Nigerian credit report tracks the CBN's loan classification. A facility is performing when payments are up to date; it becomes non-performing at 90 days past due, and the CBN's Prudential Guidelines then class it as substandard (90 to under 180 days), doubtful (180 to under 360 days) or lost (360 days or more). "Delinquent" is a general word for overdue and usually means at least one missed payment.
Open your credit report and each facility carries a status word. Some are plain, some sound alarming, and bureaus do not all use identical labels. Underneath most of them is one framework: the way the CBN tells banks to classify loans by how many days a payment is overdue. Once you know the day counts, the words make sense.
The CBN classification behind the labels
The CBN's Prudential Guidelines for Deposit Money Banks, effective 1 July 2010, divide credit facilities into performing and non-performing. A facility is non-performing when interest or principal has been unpaid for 90 days or more. Non-performing facilities are then graded by age, and banks must set aside provisions against them:
| Status | Days past due | Provision the bank holds |
|---|---|---|
| Performing | Principal and interest up to date | Not stated in this section |
| Substandard | 90 days to under 180 days | 10% of the outstanding balance |
| Doubtful | 180 days to under 360 days | 50% |
| Lost | 360 days or more | 100% |
Some loan types follow longer or different timetables in the guidelines' annexures. Project finance, real estate, SME, agricultural and mortgage loans add a watchlist stage and, for some, a very doubtful stage. For example, the mortgage annexure puts a loan on the watchlist at more than 90 days overdue, substandard at more than 180 days, doubtful at more than a year and lost at more than two years.
Other words you may see
- Delinquent
- Overdue. Bureaus and lenders use it for any facility with missed payments, often with a days-past-due figure beside it. It can describe a loan 10 days late or 200 days late, so read the number.
- Past due / days in arrears
- The count of days since the oldest unpaid instalment fell due.
- Pass and watch / watchlist
- A warning stage before non-performing, used for some loan types.
- Written off
- The lender has removed the loan from its books as an accounting matter. The debt is not forgiven and the record stays.
- Closed / settled
- The facility has been repaid and closed. Late payments before closure remain on the history.
- Restructured
- The terms were changed, often to give more time. Lenders will ask why.
How each status affects a new application
No published rule says what any lender must do with each status; each lender applies its own policy, and the CBN's 2013 guidelines say a credit decision should not rest solely on bureau data. The general pattern:
- Performing on everything: the best position. Lenders look next at income and how much you already owe.
- Delinquent but under 90 days: a warning. A short, one-off lateness that was cleared is easier to explain than a pattern.
- Substandard or doubtful: most mainstream lenders will want the facility regularised or settled before offering new credit.
- Lost or written off: the most serious. Expect declines until it is settled and has aged. Bureaus keep information for at least six years from receipt under the Credit Reporting Act 2017.
- Closed after arrears: better than open arrears, and it improves as time passes with clean conduct elsewhere.
What to check first
- Read the days-past-due figure, not just the label, for each facility.
- Check the date of the last update; a stale status may be a reporting delay.
- If a facility you settled shows a non-performing status, dispute it with proof; see fixing a balance after settlement.
- If the status is accurate, speak to the lender about regularising it before you apply elsewhere.
- Pull all three bureaus' reports, since a status can differ between them; see how the bureaus differ.
How a status changes after you pay
A status is a snapshot. When you clear arrears, the days-past-due count on the facility falls, and the lender's next monthly update should show it. When you settle in full, the facility should move to closed or settled. What does not change is the history: the months in which you were late remain, because CRC's FAQ says accurate information cannot be deleted. Over time the weight of an old episode falls as newer, clean months build up beside it. If the status has not moved after the next update cycle, ask the lender for confirmation and dispute the entry with the bureau.
Where Pryme fits
Solid Allianze Microfinance Bank lends Loans on Spaces and, with Pryme, is integrated with all licensed credit bureaus in Nigeria. The agreement shows the repayment date in full before you accept. See what happens after a missed repayment and how to repay on time.
Questions people ask
What does delinquent mean on my credit report?
It means a facility is overdue. Look at the days-past-due figure beside it to see how serious it is.
When does a loan become non-performing in Nigeria?
Under the CBN's Prudential Guidelines, when interest or principal is unpaid for 90 days or more.
What does lost mean on a credit report?
It is the CBN's most serious classification, generally 360 days or more past due for ordinary bank loans. It weighs heavily on any new application.
Does written off mean I no longer owe the money?
No. A write-off is an accounting step by the lender. The debt and the record remain.
Sources
- CBN Prudential Guidelines for Deposit Money Banks in Nigeria (effective 1 July 2010) · accessed Oct 2026
- CBN Guidelines for the Licensing, Operations and Regulation of Credit Bureaux, BSD/DIR/GEN/LAB/06/051 (14 Nov 2013) · accessed Oct 2026
- Boosting access to credit in Nigeria: a glimpse into the Credit Reporting Act 2017 (Mondaq) · accessed Oct 2026
- CRC Credit Bureau: Frequently Asked Questions · accessed Oct 2026
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