In a significant move to support economically active Nigerians, the Nigerian Consumer Credit Corporation has launched the disbursement of President Bola Tinubu’s consumer credit scheme.
This initiative aims to provide affordable credit to 500,000 civil servants nationwide, starting with 15,000 beneficiaries per round.
Uzoma Nwagba, CEO of CREDICORP, announced a partnership with Credit Direct to facilitate this program, offering discounted direct consumer credit to civil servants. Eligible applicants can access loans up to N3.5m at reduced interest rates, with flexible repayment plans.
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Nwagba emphasized the scheme’s goal of supporting the well-being of Nigerians, aligning with CREDICORP’s mission to accelerate consumer credit access to 50% of economically active Nigerians by 2030.
Chukwuma Nwanze, CEO of Credit Direct, highlighted the importance of partnership in fostering financial inclusion, ensuring that civil servants can access funds quickly and easily.
This consumer credit scheme is a vital step towards catalyzing local industries, expanding consumption, and improving the quality of life for Nigerians.
