The Nigerian Consumer Credit Corporation (CrediCorp) scheme is set to benefit up to 500,000 civil servants under its initial phase, with a total sum of ₦100 billion allocated for this purpose. The announcement was made by Dada Olusegun, the Special Assistant to President Bola Tinubu on Social Media.
- Loan Amount: Civil servants can access loans of up to ₦3.5 million, based on their income and needs.
- Interest Rates and Repayment: The scheme promises the lowest interest rates available and offers a highly flexible repayment plan to ease financial pressures.
- Disbursement Timeline: Funds are expected to be disbursed to Participating Financial Institutions (PFIs) either this week or by next Monday.
- Partnerships: CrediCorp has partnered with Credit Direct, Nigeria’s largest lender to civil servants and a subsidiary of the FCMB Group, to initiate the scheme.
- Eligibility and Information: Civil servants and other eligible Nigerians are encouraged to visit the Credit Direct website or contact their customer service center for details on special credit offers and eligibility criteria.
Uzoma Nwagba, CEO of CrediCorp, confirmed the receipt of the ₦100 billion funding, marking a significant step in the rollout of the scheme.
