CREDICORP Launches USSD Loan Service SPARK for Nigerians

The Federal Government has launched a USSD-based credit service named SPARK, designed to facilitate access to consumer loans for Nigerians using basic mobile phones, eliminating the need for internet connectivity. This initiative was unveiled by the Nigerian Consumer Credit Corporation, known as CREDICORP, and aims to assist first-time borrowers who may have limited or no formal credit history.

The USSD code for accessing SPARK is *347*333#, although the service is not yet confirmed to be fully operational nationwide. CREDICORP anticipates a broader rollout before the end of 2026.

The initiative is intended to help borrowers establish repayment records to enhance their credit profiles. The unveiling occurred at CREDICORP’s CREDICORP for All showcase in Aba, Abia State, where over 1,000 residents were informed about consumer credit opportunities.

CREDICORP Managing Director and CEO Uzoma Nwagba emphasized that consumer credit should be accessible to all working Nigerians, showcasing various credit-access demonstrations and initiatives at the event.