Nigeria lunches Credit facilitating platform, Nigeria Consumer Credit Corporation (CrediCorp). The company is owned by the Federal Government of Nigeria with the primary goal of increasing access to consumer credit for 50% of the working population in Nigeria by 2030.
CrediCorp focuses on strategies that addresses barriers to accessing credit. IT is dedicated to collaborating with key stakeholders such as the Central Bank of Nigeria and various entities within the financial sector, providing capital and guarantees.
The corporation’s business operations concentrate on enhancing access to consumer credit in Nigeria. The corporation will implement a unifying credit registry using the National Identification Number (NIN), to provide credit guarantees to financial institutions to accelerate people-centred credit products and incentive purchase of locally manufactured goods and services.
The Credit scheme will roll out in two phases starting from . The 1st phase is categorised into 3 sections which comprise Federal, State Civil Servants and White collar & informal workers (covering over 28 million population), to be completed in . The 2nd phase which covers the General public (73 million population) will commence the following year.
To register, visit CredCrop official website.