Sequel to the success on its recent Expression of Interest (EOI) campaign for financial institutions, the recently established Nigeria Consumer Credit Corporation (CREDICORP) would soon commence the disbursement of consumer credit to Nigerians, with 151 organisations indicating interest.
CREDICORP is a federal government entity with the mandate to expand consumer credit access to Nigerians.
In one month, many financial institutions have completed the detailed EOI and this includes commercial, microfinance banks,fintechs, mortgage banks and cooperatives.
Notably, 85 of these institutions are licensed by the Central Bank of Nigeria (CBN), collectively serving over 1.5 million consumer credit customers.
Qualified and ready institutions are being reviewed and shortlisted for the pilot phase of the scheme, according to the Corporation.
The eagerness of financial institutions to partner with CREDICORP highlights the strategic vision and immense benefits of targeted consumer credit under President Bola Tinubu’s Renewed Hope Agenda.
