Nigerian Consumer Credit Scheme (CREDICORP) 2024 – Apply Now
The Tinubu led administration has launched the Nigerian Consumer Credit Corporation (CREDICORP) initiative in order to aid its people and boost the nation’s economy.
The purpose of this new project is to facilitate loans for major purchases such as televisions and refrigerators. It also offers guidance on improving money management. What you should know about it is as follows.
About Nigerian Consumer Credit Scheme (CREDICORP) 2024
The Nigeria Consumer Credit Corporation (CrediCorp) is a company owned by the Federal Government of Nigeria. CrediCorp has one mission: to accelerate consumer credit access to 50% of working Nigerians by 2030. CrediCorp achieves this mission by:
A) fixing the structural barriers to accessing consumer credit in Nigeria.
B) catalysing the market with capital, guarantees, and policy.
CrediCorp including its consumer credit guarantee fund, works closely with the Central Bank of Nigeria, the financial sector, identity management, credit registries, fintechs, consumer protection, and policy makers on this mission.
The aim of the scheme is to remove structural, market and policy barriers, and accelerate access to consumer credit to 50% of all working Nigerians, by 2030.
Below are benefits of the CREDICORP Scheme
- Strengthening Credit Reporting Systems: Making sure that every citizen who is financially active has a trustworthy credit score, which helps them get access to consumer credit.
- Offering Credit Guarantees: Providing help to banks and other financial institutions that want to make it easier for people to get consumer credit.
- Promoting Financial Responsibility: Encouraging people to use consumer credit responsibly to promote growth and financial responsibility.
Documents Required For Registerations
- National Identification Number (NIN)
- Bank Details: Bank Name, Account Number
- Employment Information: Job Title, Years in Current Employment, Monthly Income
- Proof of Side Hustle (if applicable)
Process Involved in the Registration
- Familiarize Yourself with the Scheme
- Confirm Eligibility
- Gather Essential Documents
- Access the Application Portal
- Complete the Application Form
- Submission of Application
- Await Adjudication
- Follow-Up Procedures
How To Register for Nigerian Consumer Credit Scheme (CREDICORP) 2024
- Initial Registration
- Input personal details such as name, email, date of birth, gender, and phone number.
- Needs Assessment
- Specify desired credit utilization, determine borrowing capacity, and repayment capabilities.
- Employment Information
- Provide details regarding primary employment, including job title, years of service, and monthly income.
- Supplementary Information
- Disclose details of any secondary employment or side hustles, if applicable.
- Facial Recognition
- Complete the application process by submitting a facial capture for identity verification.
The government’s work to make it easier for people to borrow money for important things helps Nigeria grow. If you want to join and get financial help, sign up before May 15, 2024, at credicorp.ng.