CrediCorp boss assures Nigerians of Tinubu’s commitment to consumer credit scheme

The Chief Executive Officer of Nigeria Consumer Credit Corporation, Uzoma Nwagba, has stressed the commitment of President Bola Tinubu to using the scheme to provide access to life-enhancing goods and services for the citizenry.

Nwagba stated this when he received the Head of Civil Service of the Federation, Esther Walson-Jack, according to a statement made available to PUNCH Online on Monday.

The CrediCorp boss noted that by the second quarter of 2025, no fewer than 400,000 civil servants would have access to credit.

He also said no fewer than 25,000 Nigerian civil servants have accessed the consumer credit scheme.

“During the visit, Nwagba briefed the host about the activities of CrediCorp and also introduced the corporation’s CALM Fund specifically targeting access to CNG conversions and Solar panels. He emphasised that civil servants are beneficiaries.

“The CrediCorp chieftain expressed hope for his organisation’s continued and deeper engagements with the civil service in its efforts to ensure that no fewer than 400,000 civil servants have access to credit by the second quarter of 2025, even as the access to the general public has also commenced in earnest,” the statement read.

In early September 2024, the corporation announced a partnership with Credit Direct to boost mass access to consumer credit, starting with civil servants across the country and aiming to reach 500,000 nationwide.

Nwagba disclosed that Credit Direct, the largest lender to civil servants in Nigeria and a subsidiary of FCMB Group, is a key player in this first wave of institutions involved.

In October 2024, a beneficiary of the scheme, Hauwa Bawa from the Ministry of Labour and Productivity, shared her experience, “I got my loan without knowing anyone. I applied online, and the funds were disbursed promptly. It helped me take care of my small farm and some serious household needs. I can’t thank CrediCorp and President Bola Ahmed Tinubu enough.”

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