The Federal Government of Nigeria through the Nigeria Consumer Credit Corporation (CrediCorp) has initiated several credit support program to expand consumer credit access to Nigerians and promote small and medium scale businesses in Nigeria.
CrediCorp is a lending company owned by the Federal Government of Nigeria, tasked with the responsibility of pioneering accessible credit solutions tailored to meet the diverse financial needs of individuals and businesses across all sectors in Nigeria. With a commitment to financial inclusion and innovation, the Company is transforming the landscape of credit opportunities in Nigeria.
This is part of President Bola Ahmed Tinubu’s Renewed Hope Agenda targeted at creating access to single digit loans to all eligible Nigerians.
Categories of CrediCorp Loans
The CrediCorp Loans currently available to Civil Servants and the general public are of different categories as follows:
- CrediCorp Loans to Civil servants and teachers (Federal and State)
- Automobiles Credit Fund
- Credit Access for Light and Mobility (CALM) – Consumer credit for Vehicle CNG conversions and solar home systems
- Securing Consumer Access for Local Enterprises (SCALE) – Credit for Vendors & Manufacturers aimed at accelerating growth of local vendors and manufacturers by channeling credit-backed consumers to them.
CrediCorp Loans to Civil servants and teachers (Federal and State)
These are credit via our participating financial institutions to support civil servants. See details here.
Automobiles Credit Fund
Purchase of Automobiles through National Automotive Design and Development Council (NADDC) accredited companies.
This is the Tinubu-Led FG has launched Renewed Hope Automobiles Credit Fund Today:
1. It’s a Single digit loan.
2. Commencement day: January 2025.
3. Opened to all Nigerians.
4. National Automotive Design and Development Council (NADDC) had accredited:
☑ Nordmotion
☑ Dangote Peugeot
☑ Pan Nigeria Ltd
☑ Innoson vehicles
☑ Geely Nigeria
☑ Jet Motor Company etc.
5. Automobile loan is for people that will patronize locally manufactured or assembled cars, motorcycles and tricycles.
6. Check your preferred local manufacturer web site. Discuss with them. They will issue pro-forma invoice and then CrediCorpNG will credit the manufacturer directly.
To start your application visit https://www.credicorp.ng/