Tinubu approves commencement of Consumer Credit Scheme

President Bola Tinubu has approved the commencement of the inaugural phase of the Consumer Credit Scheme, aimed at empowering Nigerians to improve their quality of life through access to goods and services.

The President’s special adviser on media and publicity, Ajuri Ngelale in a statement on Wednesday noted that “consumer credit is the lifeblood of modern economies, and every hardworking Nigerian should have access to social mobility.

“This scheme will facilitate crucial purchases, such as homes, vehicles, education, and healthcare, essential for ongoing stability to pursue their aspirations.”

The Nigerian Consumer Credit Corporation, CREDICORP, will strengthen Nigeria’s credit reporting systems, ensuring every economically active citizen has a dependable credit score.

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This score will serve as personal equity, facilitating access to consumer credit.

CREDICORP will also offer credit guarantees and wholesale lending to financial institutions dedicated to broadening consumer credit access.

“This initiative promotes responsible consumer credit as a pathway to an improved quality of life, fostering a cultural shift towards growth and financial responsibility,” Ngelale said in the statement.

In line with the President’s directive, CREDICORP has launched a portal for Nigerians to express interest in receiving consumer credit.

Working Nigerians interested in receiving consumer credit can visit www.credicorp.ng to express interest before May 15, 2024.

Credible News.ng

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