Over 1.6 Million Nigerians Apply for Credit with CREDICORP, CEO Discloses

By Milcah Tanimu

The newly launched Consumer Credit Corporation (CREDICORP) has garnered immense interest from Nigerians, with over 1.6 million individuals submitting applications for credit, according to CEO Uzoma Nwagba.

Nwagba revealed the staggering number of applications received within just three weeks since the scheme’s inception on April 21, 2024. Spearheaded by President Bola Tinubu, CREDICORP aims to enhance access to credit for the country’s workforce, facilitating essential purchases.

Expressing surprise at the overwhelming response, Nwagba highlighted the active engagement of applicants, who provided comprehensive personal and financial information to support their credit requests.

“With about 1.6 million Nigerians indicating interest, providing income information, and detailing their credit needs, the volume of applications has surpassed our expectations,” Nwagba remarked.

Appointed as CEO on April 5, Nwagba emphasized the systematic approach adopted by CREDICORP to navigate Nigeria’s demographic landscape, underscoring the initiative’s commitment to expanding credit access across the nation.