CREDICORP Launches USSD Loan Service Amid User Issues
The Nigerian Consumer Credit Corporation (CREDICORP) launched a USSD loan service named SPARK during its showcase in Aba. This initiative allows Nigerians with basic mobile phones to apply for consumer loans without internet access, using the code *347333#.
However, within 24 hours of the launch, users reported that the platform was inaccessible. CREDICORP Managing Director Uzoma Nwagba stated that the service aims to broaden access to credit for first-time borrowers and those with little or no credit history.
Despite the launch, CREDICORP acknowledged that the service is not fully operational nationwide, with a complete rollout anticipated before December 2026. The corporation has facilitated over N53.5 billion in loans for more than 351,000 Nigerians, with women constituting about 59% of beneficiaries.
Specific details regarding loan limits, interest rates, repayment periods, and eligibility conditions have yet to be disclosed.
Plus234Feed summary based on reporting from Legit.ng. Read the original report below.
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