President Bola Tinubu has approved the launch of the first phase of the Consumer Credit Scheme in Nigeria, a programme designed to offer credit facilities too working citizens in the country.
The President’s special adviser on media and publicity, Ajuri Ngelale, said this in a statement on Tuesday in Abuja.
According to the statement, the initiative would be implemented in stages, beginning with civil service members and then extending to the general public.
Ngelale noted that working Nigerians interested in receiving consumer credit can visit credicorp.ng to express interest.
- “President Bola Tinubu has approved the takeoff of the first phase of the Consumer Credit Scheme.
- “Consumer credit serves as the lifeblood of modern economies, enabling citizens to enhance their quality of life by accessing goods and services upfront, paying responsibly over time.
- “It facilitates crucial purchases, such as homes, vehicles, education, and healthcare, essential for ongoing stability to pursue their aspirations.
- “Through responsibley repayment, individuals build credit histories, unlocking more opportunities for a better life. Additionally, the increased demand for goods and services 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,” Ngelale said.
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More on Consumer Credit Scheme
Furthermore, Ngelale explained that the Nigerian Consumer Credit Corporation (CREDICORP) achieves its mandate through the following:
- Strengthening Nigeria’s credit reporting systems, 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.
- Promoting responsible consumer credit as a pathway to an improved quality of life, fostering a cultural shift towards growth and financial responsibility.
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Moreover, Ngelale mentioned that following the President’s directive to enhance access to consumer credit for Nigerians, CREDICORP has introduced a portal where Nigerians can indicate their interest in obtaining consumer credit.
He explained that this initiative, in partnership with financial institutions and cooperatives across the country, seeks to expand the availability of consumer credit.
He added that working Nigerians who are interested in obtaining consumer credit should visit credicorp.ng to register their interest.
- “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 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,” he said.
