President Bola Tinubu has approved the launch of the Nigerian Consumer Credit Scheme (CreditCorps), prioritizing civil servants in its pilot stage.
About The Nigeria Consumer Credit Corporation (CrediCorp)
The Nigeria Consumer Credit Corporation (CrediCorp) is a company owned by the Federal Government of Nigeria with a mission to increase consumer credit access to 50% of working Nigerians by 2030.
CrediCorp achieves this by addressing structural barriers to accessing consumer credit in Nigeria and providing capital, guarantees, and policy support to the market.
CrediCorp, along with its consumer credit guarantee fund, collaborates closely with the Central Bank of Nigeria, the financial sector, identity management, credit registries, fintechs, consumer protection agencies, and policymakers to accomplish this mission.
The main goals of CrediCorp’s business are:
- To streamline, standardize, and make credit registry and credit scores more accessible in Nigeria, using NIN as the unique identifier.
- To offer credit guarantees to financial institutions to promote credit products that benefit people and encourage the purchase of locally-made goods and services.
- To provide wholesale and catalytic lending to financial institutions dedicated to improving consumer credit.
How To Apply For Nigerian Consumer Credit Scheme
If you are a civil servant and you are interested in applying for this scheme, follow this link to apply: www.credicorp.ng
Note that all qualified applicants have until May 15th, 2024, to submit their applications.
