- The federal government has launched the Consumer Credit Scheme platform for Nigerians to apply for loans
- According to Ajuri Ngelale, the scheme can be used to improve quality of life by obtaining goods and services upfront
- Those interested would need to sign up through the website www.credicorp.ng to declare their interest
Legit.ng journalist Zainab Iwayemi has over three years of experience covering the Economy, Technology, and Capital Market.
President Bola Tinubu has approved the launch of the Consumer Credit Scheme (CCS), which intends to serve civil servants primarily.
Chief Ajuri Ngelale, the President's Special Advisor on Media and Publicity, announced this on Wednesday, April 24, in Abuja.
The Nigerian Consumer Credit Corporation (CREDICORP) is in charge of overseeing the program.
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Ngelale said that the CCS is essential to contemporary economies because it allows people to improve their quality of life by obtaining goods and services upfront and making responsible payments over time.
According to him, it makes it easier for Nigerians to make the essential purchases—like homes, cars, healthcare, and education—necessary for continued stability so they may follow their goals.
Vanguard reported that People can open up additional options for a better life by building credit histories through conscientious repayment using the scheme.
Credit scheme essential for Nigerians to grow
Ngelale stated that the president believes every diligent Nigerian should be able to move up the social ladder and that consumer credit was essential to realising this goal.
According to him, CREDICORP uses three main frameworks to carry out its mission.
Among them include improving Nigeria's credit reporting systems and guaranteeing that each person engaged in the economy has a stable credit score. Their equity is influenced by this score, making it easier to obtain consumer credit.
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In addition, it provides wholesale loans and credit guarantees to financial institutions committed to increasing consumer access to credit today.
Similarly, it promotes responsible consumer credit as a pathway to an improved quality of life, fostering a cultural shift towards growth and financial responsibility.
Ngelale said that in line with the president's directive to expand consumer credit access to Nigerians, the CREDICORP has launched a portal for Nigerians to express interest in receiving consumer credit.
According to the presidential spokesman, the program aims to increase consumer credit availability and was carried out in partnership with financial institutions and cooperatives nationwide.
He clarified that before May 15, working Nigerians interested in obtaining consumer credit should visit www.credicorp.ng to declare their interest.
Remember that the program will be gradually implemented and extended to further members of the public.
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Legit.ng reported that the federal government of Nigeria will open the website for the much-anticipated student loan soon.
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As reported by Premium Times, the opportunity was supposed to kick off in January (2024).
The minister of state for education, Yusuf Sununu, said the January 2024 date for the take-off of the student loan was still in place.
Source: Legit.ng
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