CREDICORP disburses loans to 20,000 soldiers

The Nigerian Consumer Credit Corporation has partnered with Fewchore Finance to provide consumer credit to personnel of the armed forces, with 20,000 armed forces personnel benefitting in its first phase.

The programme is in commemoration of the Armed Forces Remembrance Day, according to a statement on Thursday.

The statement added the fund – kicking off with the Armed Forces Remembrance Day – advances President Bola Tinubu’s vision to extend consumer credit access to over 50 per cent of working Nigerians by 2030 and demonstrates a specific commitment to improving the welfare of Nigerian soldiers who protect and serve the nation.

The statements read, “Via affordable consumer credit, members of the Armed Forces can now acquire life-enhancing household assets and meet immediate financial challenges—and at even better terms for locally manufactured goods. The programme aims to ease their financial burden, boost morale, and enhance the well-being of their families, most of whom they leave for the battlegrounds.

“President Tinubu has long championed the welfare of uniformed personnel, and this initiative reflects his commitment to creating meaningful support systems.”

Also speaking, the Managing Director/Chief Executive Officer of CREDICORP, Uzoma Nwagba, said, “This programme shows Mr. President’s commitment to supporting those who protect and serve our nation. By making credit accessible to armed forces personnel, we not only honour their service but also advance the President’s goal of using consumer credit for much better lives.”

Managing Director/CEO of Fewchore Finance, Sunkanmi Balogun, added, “We are proud to support the courageous men and women of the armed forces. At Fewchore Finance, we have a long-standing relationship with the Armed Forces and remain committed to creating solutions that address real needs.”

The initiative, starting with a first phase targeting 20,000 beneficiaries, will involve all branches of the Armed Forces. Phased implementation will ensure equitable access, coordinated with the respective accounts and budget departments of the forces.