Credit Direct, Nigeria’s foremost embedded finance company, and vivo, a Chinese technology company, have signed a Memorandum of Understanding (MoU) formalising a strategic partnership to expand smartphone access across Nigeria.
The signing took place on Friday, 17th April 2026, at Credit Direct’s headquarters in Lagos.
Under the terms of the agreement, customers can acquire a vivo smartphone by paying 20% upfront, with the remaining balance spread over six months. Credit Direct provides the financing.
The arrangement is designed to remove the single largest barrier to device ownership in Nigeria: the requirement to pay the full purchase price up front.
Nigeria currently has approximately 120 million smartphone users, yet a significant portion of the population remains without a device. The primary obstacle is not availability; it is the capital required to make an outright purchase. The Credit Direct-vivo partnership is structured specifically to address that constraint, enabling customers to own a quality device without disrupting their monthly finances.
The partnership gives Credit Direct’s customer base access to vivo’s retail network of more than 600 stores across 25 states. In its first year, the two companies are targeting sales of over 200,000 devices.
For Credit Direct, this is its first formal partnership with vivo Nigeria and a direct application of its founding purpose: extending financial access to individuals excluded from traditional credit.
“Nigeria has millions of smartphone users, but the gap between those who are connected and those who are not remains wide, and the primary reason for that gap is access to capital. This partnership addresses that directly. vivo has built a strong mobile product over the years, and Credit Direct has been providing financing to people who have been shut out of the formal financial system for years. What this partnership does is bring those two realities together. People who need smartphones but cannot afford to buy one outright can now do so through a payment plan that does not strain their monthly income. Our mission has always been to make financial solutions a universal opportunity, and this is exactly what that looks like in practice. I am genuinely excited about what we can achieve together.” Chukwuma Nwanze, MD/CEO, Credit Direct.
“We chose Credit Direct because they are the clear leaders in consumer financing in Nigeria, and they operate with a level of professionalism that gave us confidence. Instalment-based device purchasing was something we had explored before, but it did not come together at the time. With Credit Direct’s backing and infrastructure, we are confident this will be different. This is a partnership we believe in.” Toni Liu, CEO, vivo Nigeria.
Nigerians interested in acquiring a vivo smartphone through Credit Direct’s flexible financing plan can visit www.creditdirect.ng for more information.
About Credit Direct
Credit Direct is Nigeria’s leading embedded finance company, providing fast, accessible, and responsible financial solutions to individuals nationwide. Since its founding, Credit Direct has served millions of customers, including those historically underserved by traditional banking, through a technology-driven lending model built for scale, speed, and inclusion. Credit Direct is a subsidiary of First City Monument Bank (FCMB) Group Plc.
