Credit: 1.6m Nigerians Submit Applications To CREDICORP  

Over 1.6 million Nigerians have applied for credit under the newly launched Consumer Credit Corporation (CREDICORP).

The CEO of CREDICORP), Uzoma Nwagba, disclosed this on Tuesday night while speaking on Channels TV’s current affairs programme, ‘Politics Today’, monitored by our correspondent in Abuja.

This initiative, spearheaded by President Bola Tinubu and launched on April 21, 2024, aims to expand access to credit for the nation’s working populace, enabling them to make essential purchases.

Nwagba expressed his surprise at the sheer volume of applications received in just three weeks since the inception of the scheme.

“It has been overwhelming. We didn’t expect the volume of applications or expressions of interest when we put out an EoI just a week after my appointment,” he stated.

The CREDICORP CEO detailed that applicants have actively engaged with the scheme, providing extensive personal and financial information to support their requests.

“As of today, we have about 1.6 million Nigerians who indicated interest, told us what they do, submitted their income information, and what they need credit for. We didn’t even expect that volume,” Nwagba added.

Appointed as pioneer CEO on April 5, Nwagba was tasked by President Tinubu to lead the crucial initiative. Reflecting on his role, he stated: “It is our job and we are prepared to take a systematic approach to ensure that we continue to go through the demography of Nigeria.”