By James Alomu
The Manager of Equity Bank Soroti Branch Francis Erumu Ochiba has warned the public to exercise caution when registering phone lines for other individuals, noting that such actions could expose them to financial risks and damage their creditworthiness.
Speaking during an interview on how farmers can leverage banks for growth and prosperity, the manager emphasized that the National Identification Number (NIN) has become the central tool in tracking all financial transactions and borrowing history. He explained that any loan taken using one’s NIN is recorded in the system, making it easy for financial institutions to assess an individual’s credibility.
According to him, banks rely on systems such as the Credit Reference Bureau to verify customers before approving loans. He added that with reforms by Bank of Uganda, the NIN has replaced previous financial tracking methods, making credit records more comprehensive and transparent.
The manager further noted that loans acquired through mobile money platforms, including MTN Uganda and Airtel Uganda, are also linked to an individual’s NIN.
He urged the public to maintain responsible financial behavior, warning that unpaid debts remain visible and could hinder access to future credit opportunities.
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