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CreditCorp: 1.6m Nigerians have applied for consumer credit scheme

CreditCorp: 1.6m Nigerians have applied for consumer credit scheme
May 15
14:46 2024

Uzoma Nwagba, chief executive officer (CEO) of Consumer Credit Corporation (CreditCorp), says about 1.6 million Nigerians have applied for credit under its scheme.

Speaking on Channels TV’s Politics Today on May 14, Nwagba said applicants have actively engaged with the scheme, providing extensive personal and financial information to support their requests.

“It has been overwhelming. We did not expect the volume of applications or expressions of interest when we put out an EoI just a week after my appointment,” Nwagba said.

“As of today, we have about 1.6 million Nigerians who indicated interest, told us what they do, submitted their income information, and what they need credit for. We didn’t even expect that volume.”

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He said Nigerians have been listening to President Bola Tinubu about the scheme, adding that the government is prepared to take a systematic approach to ensure they continue addressing Nigeria’s demographics.

Uzoma Nwagba was appointed by the president as CreditCorp CEO on April 5 to spearhead the current administration’s drive to ensure financial inclusion and economic prosperity for Nigerians.

On April 24, the federal government approved the takeoff of the first phase of the consumer credit scheme and launched a portal for Nigerians to express interest in the scheme.

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The government said the scheme, which aims to broaden consumer credit availability, will be rolled out in phases, starting with civil servants, and then extended to the general public.

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