“Individuals build credit histories through responsible
repayment, unlocking more opportunities for a better life. The increased demand
for goods and services also stimulates local industry and job creation.
“The President believes every hardworking Nigerian should
have access to social mobility, with consumer credit playing a pivotal role in
achieving this vision.
“The Nigerian Consumer Credit Corporation (CREDICORP)
achieves its mandate through the following: Strengthening Nigeria’s credit
reporting systems and ensuring every economically active citizen has a
dependable credit score. This score becomes personal equity they build,
facilitating access to consumer credit, Offering credit guarantees and
wholesale lending to financial institutions dedicated to broadening consumer
credit access today and Promoting responsible consumer credit as a pathway to
an improved quality of life, fostering a cultural shift towards growth and
financial responsibility.
“In line with the President’s directive to expand consumer
credit access to Nigerians, the Nigerian Consumer Credit Corporation
(CREDICORP) has launched a portal for Nigerians to express interest in
receiving consumer credit.
“This initiative, in collaboration with financial
institutions and cooperatives nationwide, aims to broaden consumer credit
availability.
“Working Nigerians interested in receiving consumer credit
can visit www.credicorp.ng to express interest. The deadline is May 15, 2024.
“The scheme will be rolled out in phases, starting with
members of the civil service and cascading to members of the public,” the
statement said.
Recall that two months ago, a presidential spokesman, Bayo
Onanuga, announced that the Federal Executive Council had given the nod for the
establishment of the Consumer Credit Scheme.
He said the President’s Chief of Staff, Femi Gbajabiamila,
will lead a committee that includes the Budget Minister, Attorney-General, and
Coordinating Minister of the Economy and Finance to make the scheme a reality.
In March, the Chairman of the Federal Inland Revenue Service
Chairman, Zacch Adedeji, said the Nigerian government would unveil its proposed
N100 billion consumer credit loan in a few days.
