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    Federal Government Consumer Credit Scheme 2024

    President Bola Tinubu has approved launching the first phase of the Consumer Credit Scheme in Nigeria, a programme designed to offer credit facilities to working citizens.

    What is a Consumer Credit Scheme?

    Consumer credit serves as the lifeblood of modern economies, enabling citizens to enhance their quality of life by paying responsibly over time by accessing goods and services upfront.

    Benefits of the Consumer Credit Scheme

    The Scheme facilitates crucial purchases, such as

    • Homes
    • Vehicles
    • Education
    • Healthcare
    • Business Loan

    Document Needed for the Consumer Credit Schemes?

      • NIN Number
      • Bank Name
      • Account Number
      • Job Information

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    Nigerian Consumer Credit Corporation (CREDICORP) Scope

    The Nigerian Consumer Credit Corporation (CREDICORP) achieves its mandate through the following:

    • Strengthening Nigeria’s credit reporting systems, ensuring every economically active citizen has a dependable credit score. This score becomes personal equity they build, facilitating access to consumer credit.
    • Offering credit guarantees and wholesale lending to financial institutions dedicated to broadening consumer credit access today.
    • Promoting responsible consumer credit as a pathway to an improved quality of life, fostering a cultural shift towards growth and financial responsibility.

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    How to Apply for the Nigerian Consumer Credit Corporation

    The registration process consists of 5 stages, during which you will need to provide data such as your:

        • Personal Information
        • Credit needs
        • Primary Employment
        • Secondary Employment
        • Face Capture
      • Applicants should go to the website to begin their application.
      • First Stage: You will be require input personal information such as name, email, date of birth, gender, and phone number
      • Second Stage:  Candidates should select
        • Needs” such as; house, phones, cars, business loan, medical bill, etc
    • And fill in their
      • Credit requirement (you must fill in 3 credit)
      • Amount they can borrow and comfortably repay over 6 months
      • Any previous borrowing experience from banks, microfinance institutions, fintech companies, or loan apps
      • And NIN (which can be obtained by dialing *346#).
    • Third Stage:  You will need to fill in your:
      • Job title:
      • Years in current employment:
      • Monthly income from MAIN employment:
      • Bank where income is received:
      • Bank account number:
    • Fourth Stage is optional and should only be completed by individuals who have a side hustle.
    • Fifth Stage involves face capturing, so please ensure that you allow the system access to your camera.
    Deadline: May 15, 2024


    For more information visit the official webpage of Federal Government Consumer Credit Scheme 2024