The President of the Federal Republic of Nigeria, Pres. Bola Ahmed Tinubu recently launched the Consumer Credit Scheme, an initiative which will enable Nigerians to get access to loans to improve their livelihood and wellbeing. It is expected to facilitate housing, transportation, healthcare, and education, TheMediaGood Newspaper can report.
Here are what you should know about the programme.
WHY??
Consumer credit serves as the lifeblood of modern economies, enabling citizens to enhance their quality of life by accessing goods and services upfront, paying responsibly over time. It also facilitates crucial purchases, such as homes, vehicles, education, and healthcare, essential for ongoing stability to pursue their aspirations.
Through responsible repayment, individuals build credit histories, unlocking more opportunities for a better life.
WHO IS ELIGIBLE??
For working Nigerians generally. However, as part of the plans to ensure a smooth running, the scheme will be rolled out in phases, starting with members of the civil service and cascading to members of the public.
HOW??
The Nigeria Consumer Credit Corporation (CrediCorp) is a company owned by the Federal Government. The CrediCorp including its consumer credit guarantee fund, works closely with the Central Bank of Nigeria (CBN), the financial sector, identity management, credit registries, fintechs, consumer protection, and policy makers on the mission to avail loans to qualified Nigerians.
Working Nigerians interested in receiving the consumer credit can now visit www.credicorp.ng to express interest. For this first phase of the exercise, there is a deadline – Wednesday, May 15th, 2024. All who are eligible and are seeking to benefit from this scheme should have registered on or before this date.
You do not have to pay to gain access to this portal or access the loans. Nigerians are advised to take note as many fraudsters might try to take advantage of this scheme and defraud unsuspecting Nigerians.