President Bola Tinubu has approved the take-off 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.
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Through responsible 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.
A statement issued by presidential spokesman, Ajuri
Ngelale on Wednesday said the President believed every
hardworking Nigerian should have access to social
mobility, with consumer credit playing a pivotal role in
achieving this vision.
The Nigerian Consumer Credit Corporation (CREDICORP)
achieves its mandate through the following:
(1) 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.
(2) Offering credit guarantees and wholesale lending to
financial institutions dedicated to broadening consumer
credit access today.
(3) Promoting responsible consumer credit as a pathway
to an improved quality of life, fostering a cultural shift
towards growth and financial responsibility.
According to Ngelale, in line with the President’s directive
to expand consumer credit access to Nigerians, the
Nigerian Consumer Credit Corporation (CREDICORP) has
launched a portal for Nigerians to express interest in
receiving consumer credit.
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He said this initiative, in collaboration with financial
institutions and cooperatives nationwide, aims to broaden
consumer credit availability.
Ngelale added that working Nigerians interested in
receiving consumer credit can visit www.credicorp.ng to
express interest, saying that the deadline is May 15, 2024.
He said the scheme would be rolled out in phases, starting
with members of the civil service and cascading to
members of the public.

https://pmnewsnigeria.com/2024/04/24/tinubu-approves-take-off-of-consumer-credit-scheme/

https://guardian.ng/news/tinubu-approves-take-off-of-consumer-credit-scheme/

https://thenationonlineng.net/breaking-tinubu-approves-takeoff-of-consumer-credit-scheme/

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good development

God bless Tinubu and his cabinet

JA GA BAN.