CREDICORP Disburses N53.5bn in Consumer Credit to Nigerians

The Nigerian Consumer Credit Corporation (CREDICORP) announced that it has disbursed over N53.5 billion in consumer credit to more than 351,000 Nigerians since its inception, with women making up approximately 59% of the beneficiaries. This announcement was made in Aba, Abia State, during the unveiling of the USSD-based SPARK credit product, which aims to assist over 1,000 Abians, particularly market women, traders, youths, and transport operators.

Engr. Uzoma Nwagba, Managing Director and Chief Executive Officer of CREDICORP, emphasized the initiative's goal of providing affordable credit to those who need it, enabling them to acquire productive assets such as tricycles and vehicles. Dr. Armstrong Ume Takang, a member of CREDICORP's Board, praised President Tinubu for his support of consumer credit expansion, highlighting its potential to strengthen businesses and contribute to economic growth.

Mr. Chinenye Mba-Uzoukwu, representing Governor Alex Otti, acknowledged CREDICORP's efforts in Aba, a city known for its entrepreneurial spirit. Aisha Abdullahi, Executive Director of CREDICORP, urged potential beneficiaries to choose credit products wisely and use them for productive purposes.