Amidst ongoing economic challenges, President Bola Tinubu has authorized a N100 billion Consumer Credit Scheme to provide relief to Nigerians. As announced by Presidential Spokesperson Ajuri Ngelale, the scheme aims to enhance access to essential goods and services.
Interested individuals are encouraged to register on the Nigerian Consumer Credit Corporation (CREDICORP) portal until May 15, 2024.
Consumer credit serves as a catalyst for economic growth, enabling citizens to access goods and services upfront while making responsible payments over time. It supports essential purchases such as homes, vehicles, education, and healthcare, contributing to financial stability and personal aspirations.
CREDICORP will fulfill its mandate through the following measures:
* Enhancing credit reporting systems to establish reliable credit scores for economically active Nigerians.
* Providing credit guarantees and wholesale lending to financial institutions to expand consumer credit availability.
* Promoting responsible consumer credit practices to foster financial responsibility and growth.
In accordance with the President’s directive, CREDICORP has established a portal for Nigerians to express their interest in obtaining consumer credit. The scheme will be implemented in phases, initially targeting civil servants and gradually expanding to the general public.
Working Nigerians seeking consumer credit are invited to visit www.credicorp.ng to register their interest before the May 15, 2024 deadline. CONTINUE READING
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