President Bola Tinubu has given the green light for the commencement of the first phase of the consumer credit scheme aimed at expanding access to credit for Nigerians.
Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, announced in a statement on Wednesday that the Nigerian Consumer Credit Corporation (Credicorp) has initiated the scheme, following Tinubu’s directive.
According to Ngelale, the scheme, conducted in collaboration with financial institutions and cooperatives nationwide, seeks to enhance consumer credit availability.
He mentioned that the scheme will be implemented in stages, beginning with civil servants and later extended to the general public.
Ngelale stated: “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.
“The president believes every hardworking Nigerian should have access to social mobility, with consumer credit playing a pivotal role in achieving this vision.”
Consumer credit plays a vital role in modern economies, empowering individuals to improve their quality of life by accessing goods and services upfront and responsibly repaying over time.
