FG Inaugurates CREDICORP Board to Deepen Consumer Credit Access
FG Inaugurates CREDICORP Board to Deepen Consumer Credit Access
FG Inaugurates CREDICORP Board to Deepen Consumer Credit Access
The Federal Government has intensified efforts to expand access to consumer credit with the inauguration of the Board of the Nigerian Consumer Credit Corporation (CREDICORP).
President Bola Ahmed Tinubu said widening access to credit is central to Nigeria’s ambition of becoming a one-trillion-dollar economy.
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Represented by Vice President Kashim Shettima at the board’s inauguration, the President explained that CREDICORP was established to build a trusted consumer credit system, reduce borrowing costs, and address long-standing resistance to formal credit in the country.
He stressed that improving Nigerians’ quality of life depends on closing the gap between access to capital and human dignity. According to the President, within just one year of operation, CREDICORP has disbursed over ₦37 billion to more than 200,000 Nigerians, with over half of the beneficiaries accessing formal credit for the first time.
President Tinubu disclosed that the target is to ensure at least 50 per cent of working Nigerians have access to consumer credit by 2030. He charged the Board to uphold the highest standards of accountability, integrity, and public service, describing its role as critical to the success and sustainability of the corporation.
Earlier, Chairman of CREDICORP, Aderemi Abdul, thanked the President for the vision behind the initiative, describing the corporation as a significant boost to Nigeria’s financial architecture.
Managing Director and Chief Executive Officer, Uzoma Nwagba, said said CREDICORP has already made a measurable impact on students and young professionals, pledging to fully deliver on the President’s vision.
The newly inaugurated Board comprises representatives of key government agencies alongside independent directors, reinforcing the government’s commitment to inclusive credit access and sustainable economic growth.
FG Inaugurates CREDICORP Board to Deepen Consumer Credit Access
