Business News

Nigeria’s Consumer Credit Scheme: 7 things you need to know 

President Bola Tinubu recently approved the launch of the first phase of the Consumer Credit Scheme in Nigeria, a programme designed to offer credit facilities to working citizens in the country.

Following the President’s directive to enhance access to consumer credit for Nigerians, The Nigeria Consumer Credit Corporation (CREDICORP) has introduced a portal where Nigerians can indicate their interest in obtaining consumer credit.

CREDICORP is a federally-owned entity with a clear goal to boost consumer credit availability to 50% of Nigeria’s working population by 2030.

The launch of this initiative was announced in a statement by the President’s special adviser on media and publicity, Ajuri Ngelale.

According to the statement, the initiative would be implemented in stages, beginning with Federal civil service employees and then extending to the general public.

Here are 7 facts to know about the initiative:

The application portal will open shortly as stated here