The Nigerian Consumer Credit Corporation (CREDICORP) on Friday announced the launch of YouthCred in partnership with the National Youth Service Corps (NYSC) to provide credits for serving Corps members.
According to the Corporation, the initiative is in fulfillment of President Bola Tinubu’s Democracy Day promise to launch a consumer credit program for 400,000 Nigerians.
“YouthCred is not just a loan. It’s a movement. It equips young Nigerians with credit education, tailored financing for relocation, devices, business, or personal needs, and a chance to build a credit history early,” CREDICORP stated.
To actualize its goals, CEDICORP said it has signed a formal Memorandum of Understanding (MOU) with the NYSC, and the two organizations are now working hand-in-hand to empower Corps Members with access to responsible credit.
Speaking about the initiative ahead of its launch in an interview with Naijaonpoint earlier this year, CREDICORP CEO Uzoma Nwagba said YouthCred is not just another loan scheme, but a program designed to help young Nigerians live better today, while learning how to manage credit responsibly for the future.
According to him, YouthCred allows corps members to access upfront consumer credit of N100,000 to N150,000, repayable in small installments over the course of their service year.
Nwagb said YouthCred is tailored to help corps members meet real, practical needs. Whether they are posted to urban centers or rural communities, the program ensures they can settle in quickly and comfortably.
“Imagine you’re posted to a remote village, you need a fan, some basic furniture, maybe even a motorbike or tricycle to move around.
“Or you’re sent to a city law firm, you need a suit, shoes, or maybe a laptop. YouthCred lets you access the tools you need upfront, so you can start your service year strong and pay back in small bits,” Nwagba explained.